Focus Partners Advisor Solutions LLC Acquires Shares of 4,731 American Tower Corporation $AMT

Focus Partners Advisor Solutions LLC acquired a new stake in American Tower Corporation (NYSE:AMT) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,731 shares of the real estate investment trust’s stock, valued at approximately $1,046,000.

A number of other hedge funds also recently bought and sold shares of AMT. Nuveen LLC acquired a new stake in American Tower in the 1st quarter valued at about $991,525,000. Price T Rowe Associates Inc. MD raised its holdings in American Tower by 39.6% in the 1st 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 during the last quarter. Alyeska Investment Group L.P. acquired a new stake in American Tower in the 1st quarter valued at about $162,127,000. Amundi raised its holdings in American Tower by 35.5% in the 1st 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 during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its holdings in American Tower by 490.9% in the 1st 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 during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Transactions at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AMT has been the subject of several analyst reports. HSBC cut shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 price target for the company. in a research note on Wednesday, July 30th. The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a research note on Tuesday, July 29th. Hsbc Global Res cut shares of American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Royal Bank Of Canada set a $220.00 price target on shares of American Tower and gave the company a “sector perform” rating in a research note on Wednesday, October 1st. Finally, Morgan Stanley lowered their price objective on shares of American Tower from $270.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $236.75.

American Tower Price Performance

American Tower stock opened at $189.35 on Tuesday. The firm has a market cap of $88.66 billion, a PE ratio of 68.86, a price-to-earnings-growth ratio of 1.16 and a beta of 0.86. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.33. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. The company’s 50 day moving average is $195.03 and its two-hundred day moving average is $208.94.

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

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th were issued a dividend of $1.70 per share. The ex-dividend date was Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a yield of 3.6%. American Tower’s dividend 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.