B&I Capital AG Purchases 25,518 Shares of American Tower Corporation $AMT

B&I Capital AG increased its position in American Tower Corporation (NYSE:AMT) by 16.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 180,758 shares of the real estate investment trust’s stock after purchasing an additional 25,518 shares during the quarter. American Tower accounts for 12.0% of B&I Capital AG’s portfolio, making the stock its largest position. B&I Capital AG’s holdings in American Tower were worth $34,763,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Abound Wealth Management grew its stake in shares of American Tower by 137.3% during the third quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 81 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of American Tower in the second quarter worth about $31,000. Root Financial Partners LLC purchased a new position in American Tower in the third quarter valued at about $32,000. VSM Wealth Advisory LLC grew its stake in American Tower by 136.4% during the 2nd quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 90 shares in the last quarter. Finally, Salomon & Ludwin LLC increased its holdings in American Tower by 147.9% during the 3rd quarter. Salomon & Ludwin LLC now owns 181 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Activity at American Tower

In other news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the completion of the transaction, the insider owned 211,379 shares in the company, valued at approximately $14,743,685.25. This represents a 91.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AMT shares. Mizuho reduced their target price on American Tower from $217.00 to $189.00 and set a “neutral” rating for the company in a research note on Monday, January 12th. Argus set a $210.00 price target on shares of American Tower in a report on Thursday, October 30th. The Goldman Sachs Group reduced their price objective on shares of American Tower from $230.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 16th. UBS Group dropped their target price on shares of American Tower from $260.00 to $254.00 and set a “buy” rating for the company in a research report on Tuesday, January 20th. Finally, Royal Bank Of Canada reduced their price target on shares of American Tower from $220.00 to $195.00 and set a “sector perform” rating on the stock in a research report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and an average target price of $218.79.

American Tower Stock Down 1.1%

NYSE:AMT opened at $179.29 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.24. The stock has a 50 day moving average of $177.44 and a 200-day moving average of $190.52. The firm has a market capitalization of $83.94 billion, a PE ratio of 28.64, a price-to-earnings-growth ratio of 0.76 and a beta of 0.92. American Tower Corporation has a 52 week low of $166.88 and a 52 week high of $234.33.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.14. The business had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $2.52 EPS. Analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, December 29th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Monday, December 29th. This represents a $6.80 annualized dividend and a dividend yield of 3.8%. American Tower’s payout ratio is 108.63%.

About American Tower

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.