American Tower Co. (NYSE:AMT) Shares Purchased by CCLA Investment Management Ltd

CCLA Investment Management Ltd boosted its stake in American Tower Co. (NYSE:AMTGet Rating) by 5.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 196,971 shares of the real estate investment trust’s stock after acquiring an additional 10,459 shares during the quarter. CCLA Investment Management Ltd’s holdings in American Tower were worth $49,537,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in American Tower by 6.7% in the 4th quarter. BlackRock Inc. now owns 36,636,712 shares of the real estate investment trust’s stock valued at $10,716,237,000 after acquiring an additional 2,302,202 shares during the period. State Street Corp boosted its stake in American Tower by 5.1% during the 4th quarter. State Street Corp now owns 19,702,540 shares of the real estate investment trust’s stock worth $5,789,646,000 after purchasing an additional 953,582 shares during the last quarter. Geode Capital Management LLC boosted its stake in American Tower by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 8,675,143 shares of the real estate investment trust’s stock worth $2,531,637,000 after purchasing an additional 136,713 shares during the last quarter. Principal Financial Group Inc. boosted its stake in American Tower by 3.3% during the 4th quarter. Principal Financial Group Inc. now owns 5,114,492 shares of the real estate investment trust’s stock worth $1,492,053,000 after purchasing an additional 161,751 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in American Tower by 10.0% during the 4th quarter. Deutsche Bank AG now owns 4,654,065 shares of the real estate investment trust’s stock worth $1,361,314,000 after purchasing an additional 424,182 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

American Tower Stock Down 0.3 %

Shares of AMT opened at $258.28 on Thursday. The firm has a market cap of $120.02 billion, a P/E ratio of 44.69, a price-to-earnings-growth ratio of 2.51 and a beta of 0.46. American Tower Co. has a 12-month low of $220.00 and a 12-month high of $303.72. The company’s 50-day moving average price is $254.08 and its 200 day moving average price is $247.69. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 4.12.

American Tower (NYSE:AMTGet Rating) last issued its quarterly earnings results on Wednesday, April 27th. The real estate investment trust reported $1.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.41 by ($0.85). The business had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.61 billion. American Tower had a return on equity of 30.44% and a net margin of 26.72%. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter last year, the company earned $2.46 earnings per share. On average, sell-side analysts forecast that American Tower Co. will post 9.55 earnings per share for the current year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 8th. Shareholders of record on Friday, June 17th were paid a dividend of $1.43 per share. The ex-dividend date was Thursday, June 16th. This is a positive change from American Tower’s previous quarterly dividend of $1.40. This represents a $5.72 dividend on an annualized basis and a yield of 2.21%. American Tower’s dividend payout ratio is 98.96%.

Insiders Place Their Bets

In other American Tower news, Director Robert D. Hormats sold 150 shares of the business’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $254.53, for a total transaction of $38,179.50. Following the sale, the director now directly owns 6,571 shares in the company, valued at $1,672,516.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Robert D. Hormats sold 200 shares of the company’s stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $235.40, for a total transaction of $47,080.00. Following the sale, the director now directly owns 6,721 shares in the company, valued at $1,582,123.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert D. Hormats sold 150 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $254.53, for a total transaction of $38,179.50. Following the sale, the director now owns 6,571 shares in the company, valued at $1,672,516.63. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

AMT has been the topic of several recent research reports. Credit Suisse Group initiated coverage on shares of American Tower in a research note on Wednesday, June 22nd. They set an “outperform” rating and a $313.00 target price on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of American Tower from $260.00 to $270.00 and gave the stock a “hold” rating in a research note on Thursday, July 14th. Jefferies Financial Group lowered their target price on shares of American Tower from $308.00 to $293.00 and set a “buy” rating on the stock in a research note on Thursday, June 30th. Citigroup lowered their price target on shares of American Tower from $300.00 to $290.00 and set a “buy” rating on the stock in a research report on Monday, July 18th. Finally, StockNews.com started coverage on shares of American Tower in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $291.56.

American Tower Profile

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American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.

See Also

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

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