AQR Capital Management LLC grew its holdings in American Tower Corp (NYSE:AMT) by 2.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 869,400 shares of the real estate investment trust’s stock after acquiring an additional 21,682 shares during the period. AQR Capital Management LLC owned about 0.20% of American Tower worth $177,748,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also bought and sold shares of AMT. Cornerstone Advisors Inc. raised its holdings in American Tower by 6.5% during the first quarter. Cornerstone Advisors Inc. now owns 1,505 shares of the real estate investment trust’s stock worth $297,000 after purchasing an additional 92 shares in the last quarter. Moors & Cabot Inc. acquired a new position in American Tower during the first quarter worth about $228,000. National Asset Management Inc. grew its position in American Tower by 5.3% during the first quarter. National Asset Management Inc. now owns 3,992 shares of the real estate investment trust’s stock worth $786,000 after buying an additional 201 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in American Tower by 7.4% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,379 shares of the real estate investment trust’s stock worth $271,000 after buying an additional 95 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its position in American Tower by 9.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 31,105 shares of the real estate investment trust’s stock worth $6,130,000 after buying an additional 2,690 shares during the period. Institutional investors and hedge funds own 92.50% of the company’s stock.
Several research analysts have weighed in on the stock. Citigroup upped their target price on shares of American Tower from $236.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. increased their price target on shares of American Tower from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. KeyCorp increased their price target on shares of American Tower from $225.00 to $253.00 and gave the company an “overweight” rating in a research report on Monday, August 19th. Zacks Investment Research upgraded shares of American Tower from a “hold” rating to a “buy” rating and set a $237.00 price target on the stock in a research report on Tuesday, August 20th. Finally, Morgan Stanley raised their target price on shares of American Tower from $201.00 to $216.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 19th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $206.87.
AMT stock traded down $1.83 during mid-day trading on Friday, hitting $224.45. 1,303,833 shares of the company were exchanged, compared to its average volume of 1,688,118. American Tower Corp has a twelve month low of $140.82 and a twelve month high of $242.00. The firm has a fifty day simple moving average of $225.40 and a 200 day simple moving average of $210.11. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 4.13. The company has a market capitalization of $99.36 billion, a PE ratio of 28.09, a price-to-earnings-growth ratio of 1.84 and a beta of 0.44.
American Tower (NYSE:AMT) last posted its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.96 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.87 by ($0.91). The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.83 billion. American Tower had a net margin of 19.30% and a return on equity of 24.75%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $1.74 earnings per share. As a group, sell-side analysts anticipate that American Tower Corp will post 7.67 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Friday, September 27th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.69%. This is an increase from American Tower’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Thursday, September 26th. American Tower’s payout ratio is 47.56%.
In other news, Director Pamela D. A. Reeve sold 4,167 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $240.80, for a total value of $1,003,413.60. Following the completion of the sale, the director now directly owns 19,139 shares in the company, valued at $4,608,671.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Edmund Disanto sold 31,669 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $226.54, for a total transaction of $7,174,295.26. Following the transaction, the executive vice president now owns 166,730 shares of the company’s stock, valued at $37,771,014.20. The disclosure for this sale can be found here. Insiders sold a total of 200,001 shares of company stock worth $44,132,010 over the last quarter. Insiders own 0.75% of the company’s stock.
American Tower Company 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 approximately 171,000 communications sites.
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