American Tower Corporation $AMT Shares Purchased by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp boosted its stake in American Tower Corporation (NYSE:AMT) by 29.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,671 shares of the real estate investment trust’s stock after acquiring an additional 4,929 shares during the period. OMERS ADMINISTRATION Corp’s holdings in American Tower were worth $3,740,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Aristotle Atlantic Partners LLC lifted its holdings in shares of American Tower by 5.0% in the 1st quarter. Aristotle Atlantic Partners LLC now owns 42,000 shares of the real estate investment trust’s stock valued at $7,248,000 after purchasing an additional 2,000 shares during the last quarter. Waverly Advisors LLC grew its stake in American Tower by 11.7% during the 1st quarter. Waverly Advisors LLC now owns 45,679 shares of the real estate investment trust’s stock worth $7,883,000 after buying an additional 4,775 shares during the last quarter. Wealth Alliance LLC increased its position in American Tower by 163.5% during the first quarter. Wealth Alliance LLC now owns 12,109 shares of the real estate investment trust’s stock worth $2,090,000 after buying an additional 7,514 shares during the period. Epoch Investment Partners Inc. increased its position in American Tower by 14.2% during the first quarter. Epoch Investment Partners Inc. now owns 72,850 shares of the real estate investment trust’s stock worth $12,572,000 after buying an additional 9,079 shares during the period. Finally, Gabelli Funds LLC lifted its stake in American Tower by 5.9% in the first quarter. Gabelli Funds LLC now owns 114,390 shares of the real estate investment trust’s stock valued at $19,741,000 after buying an additional 6,350 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Transactions at American Tower

In other news, EVP Ruth T. Dowling sold 416 shares of the stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total transaction of $73,856.64. Following the completion of the transaction, the executive vice president directly owned 29,461 shares of the company’s stock, valued at approximately $5,230,505.94. This represents a 1.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the subject of several research analyst reports. Mizuho raised American Tower from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $189.00 to $205.00 in a report on Wednesday, April 15th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $260.00 target price on shares of American Tower in a report on Wednesday, April 29th. The Goldman Sachs Group began coverage on shares of American Tower in a research report on Friday, June 26th. They issued a “buy” rating and a $215.00 price target for the company. Wolfe Research raised shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price objective on the stock in a research report on Wednesday, July 8th. Finally, Scotiabank lifted their price objective on shares of American Tower from $214.00 to $218.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $215.57.

American Tower Stock Up 0.0%

Shares of NYSE:AMT opened at $166.69 on Tuesday. The company has a market cap of $77.66 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 0.70 and a beta of 0.91. The firm’s 50-day simple moving average is $176.56 and its 200-day simple moving average is $178.30. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $229.07.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $1.24. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.66 billion. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.75 earnings per share. As a group, equities research analysts predict that American Tower Corporation will post 10.66 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Friday, June 12th were given a dividend of $1.79 per share. The ex-dividend date was Friday, June 12th. This represents a $7.16 annualized dividend and a yield of 4.3%. American Tower’s payout ratio is presently 115.67%.

About American Tower

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.