American Tower Co. (NYSE:AMT) Holdings Boosted by Advisory Services Network LLC

Advisory Services Network LLC boosted its position in shares of American Tower Co. (NYSE:AMT) by 17.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,749 shares of the real estate investment trust’s stock after purchasing an additional 4,775 shares during the period. Advisory Services Network LLC’s holdings in American Tower were worth $6,273,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Alera Investment Advisors LLC grew its holdings in shares of American Tower by 1.3% during the 4th quarter. Alera Investment Advisors LLC now owns 4,105 shares of the real estate investment trust’s stock valued at $886,000 after acquiring an additional 51 shares in the last quarter. Allstate Corp grew its holdings in shares of American Tower by 3.1% during the 4th quarter. Allstate Corp now owns 1,750 shares of the real estate investment trust’s stock valued at $378,000 after acquiring an additional 53 shares in the last quarter. Augustine Asset Management Inc. grew its holdings in shares of American Tower by 0.8% during the 4th quarter. Augustine Asset Management Inc. now owns 7,092 shares of the real estate investment trust’s stock valued at $1,531,000 after acquiring an additional 56 shares in the last quarter. McIlrath & Eck LLC grew its holdings in shares of American Tower by 13.9% during the 4th quarter. McIlrath & Eck LLC now owns 459 shares of the real estate investment trust’s stock valued at $99,000 after acquiring an additional 56 shares in the last quarter. Finally, Glassman Wealth Services grew its holdings in shares of American Tower by 4.7% during the 4th quarter. Glassman Wealth Services now owns 1,242 shares of the real estate investment trust’s stock valued at $268,000 after acquiring an additional 56 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Stock Performance

Shares of AMT traded up $2.18 during trading hours on Friday, reaching $209.38. 784,782 shares of the company traded hands, compared to its average volume of 2,359,641. The stock’s fifty day moving average is $192.22 and its 200 day moving average is $194.20. The stock has a market cap of $97.78 billion, a P/E ratio of 46.88, a price-to-earnings-growth ratio of 1.40 and a beta of 0.81. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.85 and a current ratio of 0.85. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.54 EPS. Equities research analysts anticipate that American Tower Co. will post 10.03 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be paid a $1.62 dividend. The ex-dividend date is Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a yield of 3.09%. American Tower’s payout ratio is currently 146.61%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AMT. Barclays reduced their price objective on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Morgan Stanley lifted their price objective on shares of American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Scotiabank reduced their price objective on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a research note on Wednesday, May 1st. BMO Capital Markets cut their target price on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Finally, The Goldman Sachs Group assumed coverage on shares of American Tower in a research report on Monday, July 1st. They set a “buy” rating and a $230.00 target price for the company. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $221.67.

Insider Activity at American Tower

In other news, EVP Sanjay Goel sold 3,504 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total transaction 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 $5,692,828.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Sanjay Goel sold 3,504 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total transaction 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 $5,692,828.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert D. Hormats sold 700 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were 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 directly owns 7,332 shares of the company’s stock, valued at approximately $1,345,422. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.