Los Angeles Capital Management LLC raised its position in American Tower Co. (NYSE:AMT – Get Rating) by 1,115.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,268 shares of the real estate investment trust’s stock after purchasing an additional 58,981 shares during the quarter. Los Angeles Capital Management LLC’s holdings in American Tower were worth $16,145,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. CCLA Investment Management Ltd raised its position in American Tower by 5.6% in the first quarter. CCLA Investment Management Ltd now owns 196,971 shares of the real estate investment trust’s stock valued at $49,537,000 after purchasing an additional 10,459 shares during the last quarter. Graypoint LLC raised its position in shares of American Tower by 8.4% during the first quarter. Graypoint LLC now owns 1,022 shares of the real estate investment trust’s stock worth $257,000 after acquiring an additional 79 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of American Tower by 1.3% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,311 shares of the real estate investment trust’s stock worth $7,866,000 after acquiring an additional 403 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its position in shares of American Tower by 1.9% during the first quarter. Kornitzer Capital Management Inc. KS now owns 11,820 shares of the real estate investment trust’s stock worth $2,969,000 after acquiring an additional 225 shares during the last quarter. Finally, AE Wealth Management LLC raised its position in shares of American Tower by 7.3% during the first quarter. AE Wealth Management LLC now owns 35,387 shares of the real estate investment trust’s stock worth $8,890,000 after acquiring an additional 2,397 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on AMT shares. Deutsche Bank Aktiengesellschaft raised their price objective on American Tower from $260.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, July 14th. Credit Suisse Group started coverage on American Tower in a research report on Wednesday, June 22nd. They set an “outperform” rating and a $313.00 price objective for the company. Royal Bank of Canada raised their price objective on American Tower from $282.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday. TheStreet raised American Tower from a “c+” rating to a “b” rating in a research note on Wednesday, April 27th. Finally, JPMorgan Chase & Co. raised American Tower from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $245.00 to $285.00 in a research note on Tuesday, June 21st. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and a consensus price target of $291.69.
Insider Activity at American Tower
American Tower Trading Up 0.3 %
Shares of American Tower stock opened at $272.19 on Friday. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.65 and a current ratio of 0.65. American Tower Co. has a 52 week low of $220.00 and a 52 week high of $303.72. The stock has a 50 day moving average price of $256.59 and a two-hundred day moving average price of $248.36. The stock has a market capitalization of $126.73 billion, a PE ratio of 44.77, a price-to-earnings-growth ratio of 2.70 and a beta of 0.46.
American Tower (NYSE:AMT – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.99. American Tower had a return on equity of 28.93% and a net margin of 27.23%. The firm had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter last year, the firm posted $2.42 earnings per share. The company’s revenue for the quarter was up 16.3% compared to the same quarter last year. As a group, equities analysts anticipate that American Tower Co. will post 9.37 earnings per share for the current fiscal year.
American Tower Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, July 8th. Investors of record on Friday, June 17th were given a dividend of $1.43 per share. This is a boost from American Tower’s previous quarterly dividend of $1.40. The ex-dividend date was Thursday, June 16th. This represents a $5.72 annualized dividend and a dividend yield of 2.10%. American Tower’s payout ratio is presently 94.08%.
American Tower Company Profile
American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.
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