XML Financial LLC Acquires New Position in American Tower Co. (NYSE:AMT)

XML Financial LLC acquired a new stake in American Tower Co. (NYSE:AMTFree Report) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 1,239 shares of the real estate investment trust’s stock, valued at approximately $267,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Campbell & CO Investment Adviser LLC grew its holdings in shares of American Tower by 18.8% during the third quarter. Campbell & CO Investment Adviser LLC now owns 1,688 shares of the real estate investment trust’s stock valued at $278,000 after purchasing an additional 267 shares during the last quarter. Hunter Associates Investment Management LLC grew its holdings in shares of American Tower by 86.9% during the third quarter. Hunter Associates Investment Management LLC now owns 3,165 shares of the real estate investment trust’s stock valued at $516,000 after purchasing an additional 1,472 shares during the last quarter. Nichols & Pratt Advisers LLP MA grew its holdings in shares of American Tower by 5.1% during the third quarter. Nichols & Pratt Advisers LLP MA now owns 1,550 shares of the real estate investment trust’s stock valued at $255,000 after purchasing an additional 75 shares during the last quarter. 1ST Source Bank grew its holdings in shares of American Tower by 17.3% during the third quarter. 1ST Source Bank now owns 2,156 shares of the real estate investment trust’s stock valued at $355,000 after purchasing an additional 318 shares during the last quarter. Finally, Cornerstone Advisors LLC bought a new position in shares of American Tower during the third quarter valued at approximately $2,006,000. 92.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AMT has been the subject of a number of recent analyst reports. Morgan Stanley increased their price objective on American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Mizuho initiated coverage on American Tower in a report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price objective for the company. BMO Capital Markets decreased their price objective on American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Scotiabank decreased their price objective on American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a report on Wednesday, May 1st. Finally, StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $220.91.

View Our Latest Stock Report on American Tower

Insider Activity

In other news, Director Robert D. Hormats sold 700 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total transaction of $128,450.00. Following the completion of the sale, the director now owns 7,332 shares in the company, valued at approximately $1,345,422. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Robert D. Hormats sold 700 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total value of $128,450.00. Following the completion of the sale, the director now owns 7,332 shares in the company, valued at $1,345,422. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sanjay Goel sold 3,504 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total value of $702,061.44. Following the completion of the sale, the executive vice president now owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

American Tower Stock Performance

AMT opened at $194.80 on Tuesday. The company has a market capitalization of $90.97 billion, a price-to-earnings ratio of 44.07, a price-to-earnings-growth ratio of 1.39 and a beta of 0.79. The company has a debt-to-equity ratio of 3.39, a current ratio of 0.85 and a quick ratio of 0.85. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10. The business has a 50 day moving average price of $184.85 and a two-hundred day moving average price of $196.21.

American Tower (NYSE:AMTGet Free Report) last released its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). American Tower had a return on equity of 18.45% and a net margin of 18.42%. The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same quarter last year, the company earned $2.54 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. Research analysts predict that American Tower Co. will post 9.98 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 14th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.33%. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

American Tower Company Profile

(Free Report)

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.

See Also

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:AMTFree Report).

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

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