American Tower Corp (AMT) Shares Bought by Brasada Capital Management LP

Brasada Capital Management LP lifted its stake in American Tower Corp (NYSE:AMT) by 0.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 60,593 shares of the real estate investment trust’s stock after acquiring an additional 478 shares during the period. American Tower accounts for about 3.6% of Brasada Capital Management LP’s investment portfolio, making the stock its 2nd largest position. Brasada Capital Management LP’s holdings in American Tower were worth $11,940,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc grew its holdings in American Tower by 6.7% in the 3rd quarter. Vanguard Group Inc now owns 56,635,438 shares of the real estate investment trust’s stock valued at $8,229,130,000 after buying an additional 3,579,249 shares during the last quarter. FMR LLC grew its holdings in American Tower by 32.6% in the 4th quarter. FMR LLC now owns 20,144,710 shares of the real estate investment trust’s stock valued at $3,186,692,000 after buying an additional 4,949,323 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in American Tower by 15,525.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,579,832 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 7,531,324 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in American Tower by 2.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,557,968 shares of the real estate investment trust’s stock valued at $1,037,413,000 after buying an additional 144,064 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in American Tower by 2.4% in the 4th quarter. Northern Trust Corp now owns 6,552,256 shares of the real estate investment trust’s stock valued at $1,036,502,000 after buying an additional 151,008 shares during the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:AMT opened at $200.47 on Thursday. American Tower Corp has a 1-year low of $134.87 and a 1-year high of $201.20. The company has a market cap of $87.03 billion, a PE ratio of 25.09, a PEG ratio of 1.61 and a beta of 0.66. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 4.31.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Friday, May 3rd. The real estate investment trust reported $1.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $0.04. American Tower had a return on equity of 22.61% and a net margin of 17.95%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the firm earned $0.63 EPS. American Tower’s revenue for the quarter was up 4.1% compared to the same quarter last year. Research analysts expect that American Tower Corp will post 7.51 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Thursday, April 11th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Wednesday, April 10th. This is a positive change from American Tower’s previous quarterly dividend of $0.84. American Tower’s dividend payout ratio (DPR) is presently 45.06%.

A number of research firms have issued reports on AMT. KeyCorp raised their target price on American Tower from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, February 12th. Royal Bank of Canada raised their target price on American Tower from $195.00 to $203.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. SunTrust Banks raised their target price on American Tower to $210.00 and gave the company a “positive” rating in a report on Monday, May 6th. Edward Jones lowered American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, March 13th. Finally, Macquarie reaffirmed a “buy” rating and issued a $210.00 target price on shares of American Tower in a report on Thursday, February 28th. Twelve analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $180.44.

In other news, EVP Olivier Puech sold 1,169 shares of American Tower stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $188.18, for a total transaction of $219,982.42. Following the sale, the executive vice president now owns 19,147 shares of the company’s stock, valued at approximately $3,603,082.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joann A. Reed sold 1,538 shares of American Tower stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $175.61, for a total value of $270,088.18. The disclosure for this sale can be found here. Insiders have sold a total of 171,718 shares of company stock worth $33,175,251 in the last three months. 0.75% of the stock is owned by insiders.

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

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