American Tower Corporation (NYSE:AMT) Shares Purchased by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC raised its holdings in American Tower Corporation (NYSE:AMT) by 2.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,254 shares of the real estate investment trust’s stock after acquiring an additional 91 shares during the quarter. Pathway Financial Advisers LLC’s holdings in American Tower were worth $926,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. North Capital Inc. purchased a new position in shares of American Tower in the 1st quarter valued at about $25,000. Hopwood Financial Services Inc. boosted its holdings in American Tower by 100.0% during the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 60 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in American Tower during the first quarter worth about $31,000. Lowe Wealth Advisors LLC increased its holdings in American Tower by 218.0% in the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 109 shares in the last quarter. Finally, Minot DeBlois Advisors LLC acquired a new stake in shares of American Tower during the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling

In other news, CEO Juan Font sold 720 shares of the company’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the transaction, the chief executive officer owned 23,425 shares of the company’s stock, valued at $4,880,130.25. This represents a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.17% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. UBS Group upped their price target on American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Raymond James Financial set a $250.00 target price on American Tower and gave the stock a “strong-buy” rating in a research report on Wednesday. BMO Capital Markets restated an “outperform” rating and issued a $245.00 price target (down previously from $250.00) on shares of American Tower in a research report on Wednesday. Scotiabank lifted their price target on American Tower from $234.00 to $248.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 30th. Finally, Bank of America assumed coverage on shares of American Tower in a research report on Monday, May 19th. They issued a “buy” rating and a $255.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, American Tower has an average rating of “Moderate Buy” and a consensus price target of $243.88.

American Tower Stock Performance

Shares of AMT opened at $212.18 on Friday. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $243.56. The company’s 50 day simple moving average is $218.73 and its 200 day simple moving average is $210.32. The company has a market capitalization of $99.33 billion, a price-to-earnings ratio of 77.16, a PEG ratio of 1.15 and a beta of 0.82. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.81 and a current ratio of 0.95.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the prior year, the company posted $2.79 EPS. The business’s revenue for the quarter was down 9.4% compared to the same quarter last year. On average, sell-side analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 13th were issued a $1.70 dividend. The ex-dividend date was Friday, June 13th. This represents a $6.80 annualized dividend and a yield of 3.2%. American Tower’s payout ratio is 247.27%.

About American Tower

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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.