Blair William & Co. IL grew its position in shares of American Tower Corp (NYSE:AMT) by 2.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 626,669 shares of the real estate investment trust’s stock after purchasing an additional 12,072 shares during the quarter. American Tower accounts for 0.9% of Blair William & Co. IL’s portfolio, making the stock its 26th largest position. Blair William & Co. IL owned about 0.14% of American Tower worth $136,457,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of AMT. CXI Advisors acquired a new position in shares of American Tower in the 4th quarter worth $27,000. MCF Advisors LLC acquired a new stake in American Tower during the first quarter valued at $27,000. Brooktree Capital Management acquired a new stake in American Tower during the fourth quarter valued at $29,000. John W. Brooker & Co. CPAs bought a new position in American Tower during the first quarter valued at about $32,000. Finally, TI Trust Inc. bought a new position in American Tower during the fourth quarter valued at about $34,000. Institutional investors own 91.73% of the company’s stock.
In related news, EVP Steven O. Vondran sold 1,154 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $233.24, for a total value of $269,158.96. Following the completion of the transaction, the executive vice president now directly owns 26,315 shares of the company’s stock, valued at approximately $6,137,710.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Robert Joseph Meyer, Jr. sold 6,439 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $238.11, for a total transaction of $1,533,190.29. Following the completion of the transaction, the chief accounting officer now directly owns 37,120 shares of the company’s stock, valued at $8,838,643.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,392 shares of company stock valued at $3,343,752. 0.65% of the stock is owned by corporate insiders.
A number of research firms have recently commented on AMT. UBS Group upgraded American Tower from a “neutral” rating to a “buy” rating and set a $270.00 price objective on the stock in a research note on Thursday, April 2nd. Wells Fargo & Co boosted their price target on American Tower from $265.00 to $272.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Edward Jones upgraded American Tower from a “hold” rating to a “buy” rating in a research note on Tuesday, March 24th. Credit Suisse Group assumed coverage on American Tower in a research note on Tuesday, April 28th. They set an “outperform” rating and a $308.00 price target on the stock. Finally, Morgan Stanley lifted their price objective on American Tower from $218.00 to $245.00 and gave the company an “equal weight” rating in a report on Monday, April 27th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $257.38.
Shares of AMT traded up $14.27 on Friday, hitting $242.43. The company’s stock had a trading volume of 2,812,237 shares, compared to its average volume of 1,978,653. The company has a market capitalization of $101.14 billion, a PE ratio of 56.78, a PEG ratio of 1.94 and a beta of 0.44. The company has a debt-to-equity ratio of 6.91, a current ratio of 0.57 and a quick ratio of 0.57. American Tower Corp has a fifty-two week low of $174.32 and a fifty-two week high of $260.43. The company has a 50 day moving average price of $239.56 and a 200 day moving average price of $229.48.
American Tower (NYSE:AMT) last posted its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.12). The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. American Tower had a return on equity of 35.63% and a net margin of 24.55%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.84 EPS. On average, equities analysts forecast that American Tower Corp will post 8 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 19th will be given a $1.10 dividend. The ex-dividend date is Thursday, June 18th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.81%. This is a boost from American Tower’s previous quarterly dividend of $1.08. American Tower’s dividend payout ratio is currently 55.89%.
American Tower Company Profile
American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 171,000 communications sites.
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