Beaumont Financial Partners LLC Purchases 706 Shares of American Tower Co. (NYSE:AMT)

Beaumont Financial Partners LLC raised its position in shares of American Tower Co. (NYSE:AMTGet Rating) by 1.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,089 shares of the real estate investment trust’s stock after purchasing an additional 706 shares during the period. American Tower comprises 1.2% of Beaumont Financial Partners LLC’s portfolio, making the stock its 22nd biggest position. Beaumont Financial Partners LLC’s holdings in American Tower were worth $15,849,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Norges Bank acquired a new position in American Tower during the 4th quarter valued at about $1,148,150,000. BlackRock Inc. increased its position in American Tower by 6.7% during the 4th quarter. BlackRock Inc. now owns 36,636,712 shares of the real estate investment trust’s stock valued at $10,716,237,000 after buying an additional 2,302,202 shares in the last quarter. State Street Corp increased its position in American Tower by 5.1% during the 4th quarter. State Street Corp now owns 19,702,540 shares of the real estate investment trust’s stock valued at $5,789,646,000 after buying an additional 953,582 shares in the last quarter. Bank of Montreal Can increased its position in American Tower by 49.0% during the 4th quarter. Bank of Montreal Can now owns 1,713,723 shares of the real estate investment trust’s stock valued at $499,397,000 after buying an additional 563,327 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in American Tower by 109.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 1,079,340 shares of the real estate investment trust’s stock valued at $271,151,000 after purchasing an additional 563,028 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Insider Activity at American Tower

In related news, Director Robert D. Hormats sold 150 shares of the stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $254.53, for a total value of $38,179.50. Following the completion of the transaction, the director now directly owns 6,571 shares in the company, valued at $1,672,516.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Robert D. Hormats sold 150 shares of the stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $254.53, for a total value of $38,179.50. Following the completion of the transaction, the director now directly owns 6,571 shares in the company, valued at $1,672,516.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert D. Hormats sold 200 shares of the stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $235.40, for a total value of $47,080.00. Following the completion of the transaction, the director now owns 6,721 shares of the company’s stock, valued at $1,582,123.40. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on AMT. JPMorgan Chase & Co. upgraded American Tower from an “underweight” rating to an “overweight” rating and boosted their price target for the company from $245.00 to $285.00 in a research note on Tuesday, June 21st. Morgan Stanley dropped their price target on American Tower from $268.00 to $252.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 20th. Citigroup lowered their target price on American Tower from $300.00 to $290.00 and set a “buy” rating on the stock in a research note on Monday, July 18th. TheStreet upgraded American Tower from a “c+” rating to a “b” rating in a research note on Wednesday, April 27th. Finally, Credit Suisse Group assumed coverage on American Tower in a research note on Wednesday, June 22nd. They issued an “outperform” rating and a $313.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $291.69.

American Tower Price Performance

Shares of American Tower stock traded up $0.92 during mid-day trading on Friday, reaching $272.19. 1,156,388 shares of the stock traded hands, compared to its average volume of 1,506,142. The business has a 50-day moving average of $256.59 and a 200 day moving average of $248.36. American Tower Co. has a fifty-two week low of $220.00 and a fifty-two week high of $303.72. The stock has a market capitalization of $126.73 billion, a PE ratio of 44.77, a PEG ratio of 2.70 and a beta of 0.46. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 3.47.

American Tower (NYSE:AMTGet Rating) last announced its earnings results 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 business had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter in the prior year, the firm earned $2.42 earnings per share. The business’s revenue was up 16.3% compared to the same quarter last year. On average, analysts predict that American Tower Co. will post 9.37 EPS for the current year.

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 8th. Investors of record on Friday, June 17th were issued a $1.43 dividend. This represents a $5.72 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Thursday, June 16th. This is a boost from American Tower’s previous quarterly dividend of $1.40. American Tower’s dividend payout ratio (DPR) is currently 94.08%.

American Tower Profile

(Get Rating)

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.

Further Reading

Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Co. (NYSE:AMTGet Rating).

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

Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.