5,161 American Tower Corporation $AMT Shares Acquired by Uhlmann Price Securities LLC

Uhlmann Price Securities LLC increased its position in shares of American Tower Corporation (NYSE:AMT) by 201.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,719 shares of the real estate investment trust’s stock after acquiring an additional 5,161 shares during the quarter. Uhlmann Price Securities LLC’s holdings in American Tower were worth $1,264,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Operose Advisors LLC acquired a new stake in American Tower during the 2nd quarter valued at $25,000. Allied Private Wealth LLC purchased a new stake in shares of American Tower in the second quarter valued at $29,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of American Tower in the second quarter valued at $33,000. SBI Securities Co. Ltd. acquired a new stake in shares of American Tower in the third quarter worth $35,000. Finally, Kelleher Financial Advisors acquired a new stake in shares of American Tower in the second quarter worth $37,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In related news, EVP Ruth T. Dowling sold 952 shares of American Tower stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $185.81, for a total value of $176,891.12. Following the transaction, the executive vice president owned 26,133 shares in the company, valued at $4,855,772.73. This trade represents a 3.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur bought 2,829 shares of the business’s stock in a transaction on Friday, August 21st. The shares were purchased at an average cost of $177.00 per share, with a total value of $500,733.00. Following the transaction, the director owned 7,765 shares in the company, valued at approximately $1,374,405. The trade was a 57.31% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AMT. Sanford C. Bernstein lowered their price target on American Tower from $214.00 to $212.00 and set an “outperform” rating on the stock in a report on Tuesday, October 20th. Scotiabank reissued an “outperform” rating on shares of American Tower in a research note on Wednesday, July 29th. Truist Financial increased their price objective on American Tower from $207.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, October 30th. Mizuho set a $208.00 price objective on American Tower in a research report on Thursday, August 20th. Finally, BMO Capital Markets lifted their target price on American Tower from $190.00 to $195.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $216.11.

American Tower Stock Down 2.7%

AMT opened at $188.81 on Friday. The firm has a market cap of $87.98 billion, a P/E ratio of 26.63, a price-to-earnings-growth ratio of 3.41 and a beta of 0.85. The company has a debt-to-equity ratio of 3.30, a quick ratio of 0.51 and a current ratio of 0.51. The business has a 50 day moving average price of $177.26 and a 200 day moving average price of $177.65. American Tower Corporation has a twelve month low of $160.06 and a twelve month high of $202.50.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, October 27th. The real estate investment trust reported $1.64 EPS for the quarter, meeting the consensus estimate of $1.64. American Tower had a return on equity of 32.71% and a net margin of 30.10%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter last year, the company posted $2.78 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. Research analysts forecast that American Tower Corporation will post 10.80 EPS for the current year.

American Tower declared that its Board of Directors has initiated a share buyback program on Tuesday, October 27th that authorizes the company to buy back $2 billion in outstanding shares. This buyback authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Share buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 20th. Investors of record on Wednesday, September 30th were issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Wednesday, September 30th. American Tower’s dividend payout ratio is currently 100.99%.

About American Tower

American Tower Corporation is a real estate investment trust that owns, operates and develops communications infrastructure. Its portfolio includes wireless and broadcast communications sites, such as towers and rooftop installations, where mobile network operators and other customers place antennas and related equipment.

The company also provides services related to site acquisition, development, construction and maintenance. Through its CoreSite business, American Tower operates data centers and provides colocation and interconnection services.

Founded in 1995 and headquartered in Boston, American Tower serves customers in the United States and in markets across Africa, Asia-Pacific, Europe and Latin America.