Landsberg Bennett & Dubbaneh LLC Has $4 Million Position in American Tower Corp (NYSE:AMT)

Landsberg Bennett & Dubbaneh LLC lowered its position in American Tower Corp (NYSE:AMT) by 1.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 18,274 shares of the real estate investment trust’s stock after selling 344 shares during the quarter. American Tower accounts for 1.1% of Landsberg Bennett & Dubbaneh LLC’s holdings, making the stock its 23rd largest position. Landsberg Bennett & Dubbaneh LLC’s holdings in American Tower were worth $4,002,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AMT. First Trust Advisors LP increased its position in shares of American Tower by 64.2% during the 1st quarter. First Trust Advisors LP now owns 364,955 shares of the real estate investment trust’s stock worth $71,918,000 after purchasing an additional 142,704 shares in the last quarter. Burney Co. increased its position in shares of American Tower by 39.1% during the 1st quarter. Burney Co. now owns 3,558 shares of the real estate investment trust’s stock worth $701,000 after purchasing an additional 1,001 shares in the last quarter. Advisory Alpha LLC acquired a new stake in shares of American Tower during the 1st quarter worth about $44,000. Andra AP fonden acquired a new stake in shares of American Tower during the 1st quarter worth about $5,675,000. Finally, Riverhead Capital Management LLC increased its position in shares of American Tower by 32.1% during the 1st quarter. Riverhead Capital Management LLC now owns 23,115 shares of the real estate investment trust’s stock worth $4,555,000 after purchasing an additional 5,620 shares in the last quarter. 92.50% of the stock is owned by institutional investors.

A number of equities research analysts recently issued reports on the stock. Citigroup increased 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. ValuEngine cut shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. SunTrust Banks increased their target price on shares of American Tower to $230.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. increased their target price on shares of American Tower from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, KeyCorp increased their target price on shares of American Tower from $225.00 to $253.00 and gave the stock an “overweight” rating in a research report on Monday, August 19th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $206.87.

AMT traded down $1.72 during midday trading on Friday, hitting $224.56. The company had a trading volume of 91,929 shares, compared to its average volume of 1,787,064. The company has a debt-to-equity ratio of 4.13, a quick ratio of 0.49 and a current ratio of 0.49. The company has a market capitalization of $100.09 billion, a PE ratio of 28.09, a P/E/G ratio of 1.83 and a beta of 0.44. American Tower Corp has a twelve month low of $140.40 and a twelve month high of $242.00. The firm’s 50-day simple moving average is $225.42 and its 200-day simple moving average is $209.95.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.96 earnings per share for the quarter, missing the consensus estimate of $1.87 by ($0.91). The company 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 revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.74 EPS. As a group, sell-side analysts anticipate that American Tower Corp will post 7.67 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Friday, September 27th will be given a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 1.69%. The ex-dividend date is Thursday, September 26th. This is a boost from American Tower’s previous quarterly dividend of $0.92. American Tower’s dividend payout ratio (DPR) is presently 47.56%.

In other news, EVP Edmund Disanto sold 63,686 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $221.06, for a total value of $14,078,427.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James D. Taiclet, Jr. sold 57,438 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $211.89, for a total transaction of $12,170,537.82. Following the completion of the transaction, the chief executive officer now directly owns 255,414 shares in the company, valued at approximately $54,119,672.46. The disclosure for this sale can be found here. Insiders sold a total of 168,332 shares of company stock valued at $36,957,715 in the last 90 days. Corporate insiders own 0.75% of the company’s stock.

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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