Exencial Wealth Advisors LLC trimmed its stake in American Tower Corporation (NYSE:AMT - Free Report) by 23.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 6,609 shares of the real estate investment trust's stock after selling 2,065 shares during the quarter. Exencial Wealth Advisors LLC's holdings in American Tower were worth $1,438,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC grew its position in American Tower by 23.0% in the 1st quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust's stock worth $80,000 after purchasing an additional 69 shares during the last quarter. Shum Financial Group Inc. boosted its position in shares of American Tower by 3.5% during the first quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust's stock worth $913,000 after buying an additional 141 shares during the period. Mariner LLC grew its holdings in American Tower by 30.9% in the 4th quarter. Mariner LLC now owns 363,088 shares of the real estate investment trust's stock worth $66,585,000 after buying an additional 85,693 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc grew its holdings in American Tower by 13.3% in the 1st quarter. AEGON ASSET MANAGEMENT UK Plc now owns 231,913 shares of the real estate investment trust's stock worth $50,487,000 after buying an additional 27,194 shares in the last quarter. Finally, Georgetown University increased its position in American Tower by 128.2% in the 4th quarter. Georgetown University now owns 45,654 shares of the real estate investment trust's stock valued at $8,373,000 after acquiring an additional 25,651 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.
American Tower Trading Up 0.5%
American Tower stock opened at $209.97 on Friday. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $243.56. The firm's 50 day moving average price is $218.53 and its two-hundred day moving average price is $210.94. The firm has a market cap of $98.29 billion, a price-to-earnings ratio of 76.35, a price-to-earnings-growth ratio of 1.19 and a beta of 0.82. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95.
American Tower (NYSE:AMT - Get Free Report) last issued its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%. The business had revenue of $2.63 billion for the quarter, compared to analysts' expectations of $2.58 billion. During the same period in the previous year, the firm posted $2.79 EPS. The company's quarterly revenue was down 9.4% on a year-over-year basis. On average, research analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.
American Tower Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 13th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a yield of 3.2%. American Tower's dividend payout ratio is currently 247.27%.
Analyst Ratings Changes
AMT has been the subject of a number of analyst reports. HSBC lowered American Tower from a "buy" rating to a "hold" rating and set a $235.00 price target for the company. in a research report on Wednesday, July 30th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of American Tower in a report on Tuesday, July 29th. JPMorgan Chase & Co. increased their target price on shares of American Tower from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Bank of America assumed coverage on shares of American Tower in a research note on Monday, May 19th. They set a "buy" rating and a $255.00 target price on the stock. Finally, Hsbc Global Res lowered shares of American Tower from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $243.88.
Get Our Latest Stock Analysis on American Tower
Insider Buying and Selling
In other American Tower news, CEO Juan Font sold 720 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value of $149,997.60. Following the completion of the transaction, the chief executive officer directly owned 23,425 shares in the company, valued at $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.17% of the company's stock.
About American Tower
(
Free Report)
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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.
Further Reading
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