Banco Santander S.A. Has $283,000 Stock Position in American Tower Corporation (NYSE:AMT)

Banco Santander S.A. reduced its position in American Tower Corporation (NYSE:AMT) by 97.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,299 shares of the real estate investment trust’s stock after selling 56,181 shares during the period. Banco Santander S.A.’s holdings in American Tower were worth $283,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMT. Brighton Jones LLC increased its stake in shares of American Tower by 113.0% in the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after buying an additional 2,104 shares during the period. Resona Asset Management Co. Ltd. acquired a new position in American Tower in the fourth quarter valued at about $13,938,000. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in American Tower by 24.2% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 5,802 shares of the real estate investment trust’s stock worth $1,064,000 after buying an additional 1,132 shares during the last quarter. FMR LLC boosted its holdings in American Tower by 5.0% during the fourth quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust’s stock worth $2,050,390,000 after buying an additional 537,136 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in American Tower by 8.3% during the fourth quarter. Invesco Ltd. now owns 5,941,586 shares of the real estate investment trust’s stock worth $1,089,746,000 after buying an additional 455,225 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Stock Up 0.3%

Shares of American Tower stock opened at $212.69 on Tuesday. The business’s 50 day simple moving average is $218.75 and its 200 day simple moving average is $210.83. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $243.56. The firm has a market cap of $99.57 billion, a PE ratio of 77.34, a P/E/G ratio of 1.17 and a beta of 0.82. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.01. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%. The business’s quarterly revenue was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.79 EPS. On average, analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 13th were issued a dividend of $1.70 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.2%. American Tower’s payout ratio is presently 247.27%.

Analysts Set New Price Targets

A number of brokerages have issued reports on AMT. Bank of America began coverage on American Tower in a report on Monday, May 19th. They set a “buy” rating and a $255.00 target price on the stock. Hsbc Global Res cut American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. UBS Group raised their target price on American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Raymond James Financial set a $250.00 target price on American Tower and gave the stock a “strong-buy” rating in a report on Wednesday, July 30th. Finally, Wells Fargo & Company reduced their target price on American Tower from $240.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.88.

Insider Buying and Selling at American Tower

In related news, CEO Juan Font sold 720 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the transaction, the chief executive officer directly owned 23,425 shares of the company’s stock, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.

American Tower Profile

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.