Capital Advisors Ltd. LLC grew its holdings in shares of American Tower Co. (NYSE:AMT – Get Rating) by 78.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 767 shares of the real estate investment trust’s stock after purchasing an additional 338 shares during the quarter. Capital Advisors Ltd. LLC’s holdings in American Tower were worth $193,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Rational Advisors LLC boosted its stake in American Tower by 140.0% in the fourth quarter. Rational Advisors LLC now owns 84 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 49 shares during the last quarter. Cassady Schiller Wealth Management LLC bought a new stake in shares of American Tower in the 4th quarter worth approximately $25,000. Sandy Cove Advisors LLC purchased a new position in American Tower in the fourth quarter valued at approximately $27,000. Crewe Advisors LLC bought a new position in American Tower during the fourth quarter valued at $28,000. Finally, First Personal Financial Services purchased a new stake in American Tower in the fourth quarter worth $30,000. 91.00% of the stock is currently owned by institutional investors.
American Tower Stock Performance
Shares of AMT opened at $272.19 on Friday. American Tower Co. has a 12-month low of $220.00 and a 12-month high of $303.72. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 3.47. The company has a market cap 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. The stock has a 50-day moving average price of $256.59 and a 200-day moving average price of $248.36.
American Tower Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, July 8th. Investors of record on Friday, June 17th were paid a $1.43 dividend. This represents a $5.72 dividend on an annualized basis and a 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 is currently 94.08%.
Insiders Place Their Bets
In other news, Director Robert D. Hormats sold 150 shares of the stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $254.53, for a total transaction of $38,179.50. Following the transaction, the director now directly owns 6,571 shares in the company, valued at approximately $1,672,516.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other American Tower news, Director Robert D. Hormats sold 200 shares of the company’s stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $235.40, for a total transaction of $47,080.00. Following the completion of the sale, the director now directly owns 6,721 shares in the company, valued at $1,582,123.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert D. Hormats sold 150 shares of American Tower stock in a transaction dated 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 owns 6,571 shares in the company, valued at approximately $1,672,516.63. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.
Wall Street Analysts Forecast Growth
AMT has been the subject of several research reports. JPMorgan Chase & Co. upgraded American Tower from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $245.00 to $285.00 in a research note on Tuesday, June 21st. TheStreet upgraded shares of American Tower from a “c+” rating to a “b” rating in a research report on Wednesday, April 27th. Citigroup lowered their price target on shares of American Tower from $300.00 to $290.00 and set a “buy” rating on the stock in a research report on Monday, July 18th. Morgan Stanley cut their price objective on shares of American Tower from $268.00 to $252.00 and set an “equal weight” rating for the company in a report on Wednesday, July 20th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of American Tower from $260.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, July 14th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $291.69.
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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