American Tower Corp (NYSE:AMT) Shares Purchased by Private Ocean LLC

Private Ocean LLC lifted its position in American Tower Corp (NYSE:AMT) by 18.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 341 shares of the real estate investment trust’s stock after purchasing an additional 54 shares during the period. Private Ocean LLC’s holdings in American Tower were worth $76,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Eagle Asset Management Inc. acquired a new position in shares of American Tower in the 3rd quarter valued at $963,000. Alps Advisors Inc. raised its holdings in American Tower by 30.2% during the third quarter. Alps Advisors Inc. now owns 13,889 shares of the real estate investment trust’s stock worth $3,072,000 after acquiring an additional 3,225 shares in the last quarter. Essex Financial Services Inc. raised its holdings in American Tower by 5.2% during the third quarter. Essex Financial Services Inc. now owns 3,475 shares of the real estate investment trust’s stock worth $768,000 after acquiring an additional 173 shares in the last quarter. Haverford Trust Co. raised its holdings in American Tower by 0.7% during the third quarter. Haverford Trust Co. now owns 128,840 shares of the real estate investment trust’s stock worth $28,490,000 after acquiring an additional 897 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in American Tower by 5.9% during the third quarter. Daiwa Securities Group Inc. now owns 118,691 shares of the real estate investment trust’s stock worth $26,246,000 after acquiring an additional 6,582 shares in the last quarter. Hedge funds and other institutional investors own 92.54% of the company’s stock.

Several research firms have issued reports on AMT. JPMorgan Chase & Co. upped their price objective on American Tower from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Zacks Investment Research raised American Tower from a “hold” rating to a “buy” rating and set a $237.00 target price on the stock in a research report on Tuesday, August 20th. SunTrust Banks upped their target price on American Tower to $230.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Cowen upped their target price on American Tower from $238.00 to $260.00 and gave the company an “in-line” rating in a research report on Friday, November 1st. Finally, ValuEngine downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. American Tower has a consensus rating of “Hold” and a consensus price target of $215.79.

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In other American Tower news, EVP Edmund Disanto sold 63,686 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $221.06, for a total value of $14,078,427.16. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Craig Macnab sold 5,953 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $225.46, for a total value of $1,342,163.38. Following the completion of the sale, the director now directly owns 14,341 shares in the company, valued at approximately $3,233,321.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 141,524 shares of company stock worth $31,726,127. Company insiders own 0.75% of the company’s stock.

NYSE:AMT traded up $0.18 during trading hours on Friday, reaching $205.87. 1,799,862 shares of the company were exchanged, compared to its average volume of 1,770,815. The company has a market capitalization of $91.20 billion, a P/E ratio of 25.77, a P/E/G ratio of 1.65 and a beta of 0.43. American Tower Corp has a 1-year low of $150.66 and a 1-year high of $242.00. The company has a debt-to-equity ratio of 4.40, a current ratio of 0.53 and a quick ratio of 0.53. The business has a 50 day moving average of $220.99 and a 200 day moving average of $213.42.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.17. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.88 billion. American Tower had a return on equity of 27.12% and a net margin of 20.58%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.85 earnings per share. As a group, equities research analysts anticipate that American Tower Corp will post 7.65 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Friday, September 27th were issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Thursday, September 26th. This is an increase from American Tower’s previous quarterly dividend of $0.92. American Tower’s dividend payout ratio (DPR) is currently 47.56%.

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 approximately 171,000 communications sites.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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