Vanguard Personalized Indexing Management LLC Decreases Stake in American Tower Corporation $AMT

Vanguard Personalized Indexing Management LLC lessened its holdings in American Tower Corporation (NYSE:AMT) by 13.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,210 shares of the real estate investment trust’s stock after selling 8,714 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in American Tower were worth $10,626,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new position in American Tower during the second quarter valued at about $31,000. Abound Wealth Management boosted its stake in American Tower by 137.3% in the third quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 81 shares during the last quarter. VSM Wealth Advisory LLC grew its position in shares of American Tower by 136.4% during the 2nd quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 90 shares during the period. Root Financial Partners LLC bought a new position in American Tower during the third quarter valued at $32,000. Finally, Rosenberg Matthew Hamilton lifted its position in shares of American Tower by 86.0% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 80 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Eugene F. Reilly acquired 5,554 shares of the firm’s stock in a transaction dated Friday, October 31st. The shares were purchased at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the acquisition, the director owned 5,689 shares in the company, valued at approximately $1,018,274.11. This represents a 4,114.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the business’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total value of $159,631,314.75. Following the completion of the sale, the insider directly owned 211,379 shares of the company’s stock, valued at approximately $14,743,685.25. This trade represents a 91.54% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AMT. TD Cowen cut their target price on shares of American Tower from $249.00 to $235.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. New Street Research raised American Tower from a “neutral” rating to a “buy” rating and set a $203.00 price target for the company in a report on Monday, January 5th. JPMorgan Chase & Co. decreased their price objective on American Tower from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, January 12th. UBS Group cut their target price on American Tower from $260.00 to $254.00 and set a “buy” rating for the company in a research note on Tuesday, January 20th. Finally, Citigroup reiterated a “market outperform” rating on shares of American Tower in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $218.79.

American Tower Trading Up 0.4%

Shares of American Tower stock opened at $179.52 on Tuesday. The company has a 50 day simple moving average of $177.49 and a two-hundred day simple moving average of $191.25. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market cap of $84.04 billion, a PE ratio of 28.68, a PEG ratio of 0.75 and a beta of 0.92. American Tower Corporation has a 1 year low of $166.88 and a 1 year high of $234.33.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.14. The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.52 earnings per share. Analysts expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, December 29th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Monday, December 29th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.8%. American Tower’s dividend payout ratio is 108.63%.

American Tower Company Profile

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.