Cwm LLC Acquires 990 Shares of American Tower Co. (NYSE:AMT)

Cwm LLC increased its holdings in shares of American Tower Co. (NYSE:AMTFree Report) by 8.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,828 shares of the real estate investment trust’s stock after acquiring an additional 990 shares during the period. Cwm LLC’s holdings in American Tower were worth $2,535,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Alera Investment Advisors LLC grew its holdings in shares of American Tower by 1.3% in the 4th quarter. Alera Investment Advisors LLC now owns 4,105 shares of the real estate investment trust’s stock valued at $886,000 after acquiring an additional 51 shares in the last quarter. Allstate Corp grew its holdings in American Tower by 3.1% during the fourth quarter. Allstate Corp now owns 1,750 shares of the real estate investment trust’s stock worth $378,000 after purchasing an additional 53 shares during the period. First Business Financial Services Inc. grew its holdings in American Tower by 1.3% during the third quarter. First Business Financial Services Inc. now owns 4,290 shares of the real estate investment trust’s stock worth $705,000 after purchasing an additional 55 shares during the period. Augustine Asset Management Inc. grew its holdings in American Tower by 0.8% during the fourth quarter. Augustine Asset Management Inc. now owns 7,092 shares of the real estate investment trust’s stock worth $1,531,000 after purchasing an additional 56 shares during the period. Finally, McIlrath & Eck LLC lifted its position in American Tower by 13.9% during the fourth quarter. McIlrath & Eck LLC now owns 459 shares of the real estate investment trust’s stock worth $99,000 after acquiring an additional 56 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. BMO Capital Markets dropped their price objective on American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Barclays dropped their price objective on American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Raymond James raised American Tower from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $226.00 to $248.00 in a report on Wednesday, May 1st. Finally, Mizuho initiated coverage on American Tower in a report on Monday, April 8th. They set a “neutral” rating and a $205.00 price target for the company. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and a consensus target price of $220.91.

View Our Latest Stock Report on AMT

Insider Activity at American Tower

In related news, Director Robert D. Hormats sold 700 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $183.50, for a total transaction of $128,450.00. Following the sale, the director now owns 7,332 shares in the company, valued at approximately $1,345,422. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Sanjay Goel sold 3,504 shares of the company’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 transaction of $702,061.44. Following the transaction, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert D. Hormats sold 700 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 7,332 shares in the company, valued at $1,345,422. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

American Tower Trading Up 0.3 %

Shares of NYSE AMT traded up $0.50 during trading on Wednesday, reaching $192.78. The company had a trading volume of 2,407,868 shares, compared to its average volume of 2,288,610. The company’s fifty day moving average price is $185.24 and its 200-day moving average price is $195.77. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10. The stock has a market cap of $90.02 billion, a P/E ratio of 43.61, a PEG ratio of 1.37 and a beta of 0.79. 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 (NYSE:AMTGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS 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 company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter last year, the firm posted $2.54 EPS. The company’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, research analysts expect that American Tower Co. will post 10.03 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently announced 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 is Friday, June 14th. This represents a $6.48 annualized dividend and a dividend yield of 3.36%. American Tower’s payout ratio is 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.

Further Reading

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

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