Morningstar Investment Services LLC Boosts Position in American Tower Co. (NYSE:AMT)

Morningstar Investment Services LLC grew its holdings in shares of American Tower Co. (NYSE:AMTFree Report) by 170.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,094 shares of the real estate investment trust’s stock after buying an additional 2,578 shares during the quarter. Morningstar Investment Services LLC’s holdings in American Tower were worth $889,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in AMT. Janney Montgomery Scott LLC lifted its stake in shares of American Tower by 4.7% during the third quarter. Janney Montgomery Scott LLC now owns 116,899 shares of the real estate investment trust’s stock worth $19,224,000 after purchasing an additional 5,232 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in American Tower by 1,641.0% in the 3rd quarter. Gamco Investors INC. ET AL now owns 33,271 shares of the real estate investment trust’s stock worth $5,471,000 after acquiring an additional 31,360 shares during the period. Van ECK Associates Corp grew its position in American Tower by 0.5% in the third quarter. Van ECK Associates Corp now owns 108,748 shares of the real estate investment trust’s stock valued at $17,884,000 after acquiring an additional 591 shares in the last quarter. Pathstone Family Office LLC raised its stake in shares of American Tower by 118.3% during the third quarter. Pathstone Family Office LLC now owns 35,044 shares of the real estate investment trust’s stock valued at $5,772,000 after purchasing an additional 18,993 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of American Tower during the third quarter worth $63,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Mizuho started coverage on American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 price target on the stock. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Raymond James raised American Tower from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $226.00 to $248.00 in a research report on Wednesday, May 1st. Finally, BMO Capital Markets reduced their target price on American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $220.91.

Read Our Latest Stock Report on American Tower

Insider Buying and Selling

In other American Tower news, Director Robert D. Hormats sold 700 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total value of $128,450.00. Following the sale, the director now directly owns 7,332 shares in the company, valued at $1,345,422. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other American Tower news, Director Robert D. Hormats sold 700 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $183.50, for a total value of $128,450.00. Following the sale, the director now owns 7,332 shares in the company, valued at $1,345,422. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sanjay Goel sold 3,504 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total value of $702,061.44. Following the transaction, the executive vice president now owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

American Tower Stock Performance

AMT stock traded down $5.17 during trading on Friday, hitting $194.32. 1,139,310 shares of the company’s stock traded hands, compared to its average volume of 2,442,475. The stock has a fifty day moving average price of $184.88 and a two-hundred day moving average price of $196.30. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.39. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $219.10. The stock has a market capitalization of $90.74 billion, a price-to-earnings ratio of 45.13, a price-to-earnings-growth ratio of 1.42 and a beta of 0.79.

American Tower (NYSE:AMTGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). American Tower had a net margin of 18.42% and a return on equity of 18.45%. The business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.79 billion. During the same period in the prior year, the company earned $2.54 EPS. American Tower’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, equities analysts anticipate that American Tower Co. will post 9.98 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a yield of 3.33%. American Tower’s dividend payout ratio is currently 146.61%.

American Tower Profile

(Free Report)

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.

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

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