American Tower Corporation $AMT Shares Bought by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC grew its stake in American Tower Corporation (NYSE:AMT) by 2.2% during the 2nd quarter, Holdings Channel reports. The fund owned 78,577 shares of the real estate investment trust’s stock after acquiring an additional 1,674 shares during the period. American Tower comprises about 0.8% of Motley Fool Asset Management LLC’s portfolio, making the stock its 24th biggest position. Motley Fool Asset Management LLC’s holdings in American Tower were worth $17,367,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AMT. Nuveen LLC purchased a new stake in shares of American Tower in the first quarter valued at $991,525,000. Price T Rowe Associates Inc. MD lifted its position in shares of American Tower by 39.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock valued at $1,772,144,000 after acquiring an additional 2,309,627 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of American Tower in the first quarter valued at $162,127,000. Amundi lifted its position in shares of American Tower by 35.5% in the first quarter. Amundi now owns 2,838,421 shares of the real estate investment trust’s stock valued at $645,694,000 after acquiring an additional 743,617 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its position in shares of American Tower by 490.9% in the first quarter. T. Rowe Price Investment Management Inc. now owns 650,789 shares of the real estate investment trust’s stock valued at $141,612,000 after acquiring an additional 540,648 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMT has been the topic of several recent research reports. The Goldman Sachs Group restated a “buy” rating on shares of American Tower in a research report on Tuesday, July 29th. Morgan Stanley reduced their target price on American Tower from $270.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. Wells Fargo & Company reduced their target price on American Tower from $230.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, October 20th. JPMorgan Chase & Co. increased their target price on American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Finally, BMO Capital Markets reduced their target price on American Tower from $245.00 to $220.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and an average price target of $236.75.

American Tower Stock Performance

Shares of NYSE:AMT opened at $189.35 on Tuesday. The firm has a market capitalization of $88.66 billion, a PE ratio of 68.86, a P/E/G ratio of 1.16 and a beta of 0.86. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. The business has a 50-day moving average of $195.03 and a two-hundred day moving average of $208.94. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $234.33.

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

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th were paid a dividend of $1.70 per share. The ex-dividend date was Tuesday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.6%. American Tower’s dividend payout ratio is currently 247.27%.

Insider Buying and Selling

In other American Tower news, CEO Juan Font sold 720 shares of the company’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the sale, the chief executive officer directly owned 23,425 shares in the company, valued at $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.18% of the stock is owned by corporate insiders.

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