Signaturefd LLC Increases Position in American Tower Co. (NYSE:AMT)

Signaturefd LLC lifted its holdings in American Tower Co. (NYSE:AMT) by 7.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,004 shares of the real estate investment trust’s stock after buying an additional 585 shares during the quarter. Signaturefd LLC’s holdings in American Tower were worth $1,861,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NBT Bank N A NY boosted its position in American Tower by 3.3% in the 2nd quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock valued at $329,000 after buying an additional 54 shares during the period. CX Institutional boosted its holdings in shares of American Tower by 2.9% in the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock valued at $450,000 after purchasing an additional 54 shares during the period. O Brien Greene & Co. Inc grew its stake in American Tower by 2.3% in the second quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock worth $481,000 after purchasing an additional 55 shares in the last quarter. CFO4Life Group LLC increased its holdings in American Tower by 5.4% during the 1st quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock worth $221,000 after purchasing an additional 57 shares during the period. Finally, Tyche Wealth Partners LLC raised its position in American Tower by 4.9% during the 2nd quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock valued at $242,000 after purchasing an additional 58 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of American Tower stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $232.93, for a total transaction of $508,020.33. Following the completion of the transaction, the chief accounting officer now directly owns 31,873 shares in the company, valued at approximately $7,424,177.89. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of American Tower stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $232.93, for a total value of $508,020.33. Following the completion of the transaction, the chief accounting officer now owns 31,873 shares in the company, valued at $7,424,177.89. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total value of $2,333,866.35. Following the completion of the sale, the executive vice president now directly owns 51,746 shares in the company, valued at approximately $12,070,789.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,723 shares of company stock valued at $7,795,397 in the last quarter. 0.18% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. BMO Capital Markets raised their price objective on American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, September 13th. TD Cowen raised their target price on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Scotiabank upped their price target on American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, July 31st. Mizuho raised their price objective on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, StockNews.com upgraded American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $237.92.

American Tower Trading Up 0.0 %

American Tower stock opened at $221.52 on Wednesday. The stock has a 50-day moving average price of $228.52 and a 200 day moving average price of $207.05. The company has a market capitalization of $103.44 billion, a price-to-earnings ratio of 50.12, a price-to-earnings-growth ratio of 1.03 and a beta of 0.83. American Tower Co. has a 52 week low of $157.25 and a 52 week high of $243.56. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.52). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The business had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same period last year, the company earned $2.46 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. Sell-side analysts anticipate that American Tower Co. will post 10.12 EPS for the current year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.93%. American Tower’s payout ratio is currently 146.61%.

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.