North American Management Corp Buys 939 Shares of American Tower Corp (AMT)

North American Management Corp grew its stake in shares of American Tower Corp (NYSE:AMT) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,859 shares of the real estate investment trust’s stock after acquiring an additional 939 shares during the period. American Tower accounts for approximately 1.9% of North American Management Corp’s portfolio, making the stock its 22nd largest holding. North American Management Corp’s holdings in American Tower were worth $11,604,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Principal Financial Group Inc. raised its position in shares of American Tower by 12.6% in the first quarter. Principal Financial Group Inc. now owns 3,595,781 shares of the real estate investment trust’s stock worth $522,610,000 after buying an additional 402,859 shares in the last quarter. Element Capital Management LLC purchased a new stake in shares of American Tower in the first quarter worth $446,000. LPL Financial LLC raised its position in shares of American Tower by 22.3% in the first quarter. LPL Financial LLC now owns 44,956 shares of the real estate investment trust’s stock worth $6,534,000 after buying an additional 8,209 shares in the last quarter. Mariner LLC purchased a new stake in shares of American Tower in the first quarter worth $309,000. Finally, Trust Co. of Vermont raised its position in shares of American Tower by 13.1% in the first quarter. Trust Co. of Vermont now owns 38,360 shares of the real estate investment trust’s stock worth $5,575,000 after buying an additional 4,440 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

In other American Tower news, EVP Edmund Disanto sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $149.53, for a total transaction of $2,242,950.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Pamela D. A. Reeve sold 7,152 shares of the firm’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $148.92, for a total value of $1,065,075.84. The disclosure for this sale can be found here. Insiders have sold 80,281 shares of company stock worth $12,014,625 in the last 90 days. Company insiders own 0.87% of the company’s stock.

A number of brokerages recently issued reports on AMT. ValuEngine upgraded American Tower from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Zacks Investment Research downgraded American Tower from a “hold” rating to a “sell” rating in a research report on Wednesday, October 10th. Cowen reiterated a “buy” rating and issued a $161.00 price objective on shares of American Tower in a research report on Wednesday, August 1st. Deutsche Bank increased their price objective on American Tower from $155.00 to $169.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Finally, Guggenheim reiterated a “hold” rating and issued a $160.00 price objective on shares of American Tower in a research report on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. American Tower presently has an average rating of “Buy” and a consensus target price of $162.14.

NYSE AMT traded up $0.99 during trading hours on Wednesday, reaching $146.68. 1,736,900 shares of the stock traded hands, compared to its average volume of 2,179,014. American Tower Corp has a 1 year low of $130.37 and a 1 year high of $155.28. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.99. The company has a market capitalization of $64.05 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 1.55 and a beta of 0.80.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, July 31st. The real estate investment trust reported $0.69 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.73 by ($1.04). American Tower had a net margin of 16.34% and a return on equity of 16.72%. The firm had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the previous year, the business earned $1.58 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities analysts expect that American Tower Corp will post 7.1 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 17th. Shareholders of record on Friday, September 28th will be given a dividend of $0.79 per share. This is an increase from American Tower’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $3.16 dividend on an annualized basis and a yield of 2.15%. American Tower’s dividend payout ratio (DPR) is presently 49.53%.

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 170,000 communications sites.

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

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