Gilbert & Cook Inc. increased its position in shares of American Tower Corp (NYSE:AMT) by 16.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,346 shares of the real estate investment trust’s stock after acquiring an additional 187 shares during the period. Gilbert & Cook Inc.’s holdings in American Tower were worth $298,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in AMT. Cox Capital Mgt LLC increased its stake in American Tower by 1.1% in the 2nd quarter. Cox Capital Mgt LLC now owns 6,489 shares of the real estate investment trust’s stock worth $1,327,000 after purchasing an additional 73 shares in the last quarter. Boltwood Capital Management increased its stake in American Tower by 2.5% in the 2nd quarter. Boltwood Capital Management now owns 4,175 shares of the real estate investment trust’s stock worth $854,000 after purchasing an additional 100 shares in the last quarter. Park National Corp OH increased its stake in American Tower by 10.4% in the 2nd quarter. Park National Corp OH now owns 33,595 shares of the real estate investment trust’s stock worth $6,869,000 after purchasing an additional 3,153 shares in the last quarter. Dorsey Wright & Associates increased its stake in American Tower by 47.6% in the 2nd quarter. Dorsey Wright & Associates now owns 27,161 shares of the real estate investment trust’s stock worth $5,553,000 after purchasing an additional 8,760 shares in the last quarter. Finally, DNB Asset Management AS increased its stake in American Tower by 11.6% in the 2nd quarter. DNB Asset Management AS now owns 54,538 shares of the real estate investment trust’s stock worth $11,150,000 after purchasing an additional 5,688 shares in the last quarter. 92.54% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on the company. Cowen lifted their price target on American Tower from $238.00 to $260.00 and gave the stock an “in-line” rating in a research note on Friday, November 1st. Citigroup raised their price objective on American Tower from $236.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. SunTrust Banks raised their price objective on American Tower to $230.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. KeyCorp set a $242.00 price objective on American Tower and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Zacks Investment Research upgraded American Tower from a “hold” rating to a “buy” rating and set a $237.00 price objective for the company in a research report on Tuesday, August 20th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. American Tower presently has an average rating of “Hold” and a consensus price target of $215.79.
American Tower (NYSE:AMT) last announced its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $1.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.17. American Tower had a return on equity of 27.12% and a net margin of 20.58%. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the company posted $1.85 EPS. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. Equities analysts forecast that American Tower Corp will post 7.65 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Friday, September 27th were issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 1.85%. This is a positive change from American Tower’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Thursday, September 26th. American Tower’s payout ratio is currently 47.56%.
In other news, EVP Edmund Disanto sold 63,686 shares of American Tower stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $221.06, for a total transaction of $14,078,427.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Craig Macnab sold 5,953 shares of American Tower stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $225.46, for a total value of $1,342,163.38. Following the sale, the director now owns 14,341 shares of the company’s stock, valued at $3,233,321.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 141,524 shares of company stock valued at $31,726,127. 0.75% of the stock is owned by corporate insiders.
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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