Invesco Ltd. Has $1.30 Billion Stake in American Tower Corporation (NYSE:AMT)

Key Points

• Invesco Ltd. has increased its stake in American Tower Corporation by 0.5%, now holding approximately 5.97 million shares worth about $1.30 billion.
• CEO Juan Font sold 720 shares of American Tower, decreasing his position by 2.98%, which he disclosed in an SEC filing.
• American Tower reported $2.60 EPS for the last quarter, slightly surpassing analyst expectations, despite a 9.4% decline in revenue compared to the same quarter last year.

Invesco Ltd. grew its position in American Tower Corporation (NYSE:AMT - Free Report) by 0.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,971,716 shares of the real estate investment trust's stock after purchasing an additional 30,130 shares during the quarter. Invesco Ltd. owned about 1.28% of American Tower worth $1,299,445,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Elmwood Wealth Management Inc. increased its stake in American Tower by 2.5% during the 1st quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust's stock worth $454,000 after acquiring an additional 50 shares during the period. 4J Wealth Management LLC increased its stake in American Tower by 4.0% during the 1st quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust's stock worth $283,000 after acquiring an additional 50 shares during the period. TCTC Holdings LLC increased its stake in American Tower by 15.8% during the 1st quarter. TCTC Holdings LLC now owns 374 shares of the real estate investment trust's stock worth $81,000 after acquiring an additional 51 shares during the period. Coyle Financial Counsel LLC increased its stake in American Tower by 2.4% during the 1st quarter. Coyle Financial Counsel LLC now owns 2,238 shares of the real estate investment trust's stock worth $487,000 after acquiring an additional 53 shares during the period. Finally, CreativeOne Wealth LLC increased its stake in American Tower by 2.1% during the 4th quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust's stock worth $477,000 after acquiring an additional 54 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of American Tower stock in a transaction dated Thursday, July 31st. The stock was 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 of the company's stock, valued at approximately $4,880,130.25. This trade represents a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.17% of the company's stock.

Wall Street Analyst Weigh In

AMT has been the topic of a number of recent research reports. Wells Fargo & Company lowered their price objective on American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. UBS Group raised their price objective on American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. HSBC downgraded American Tower from a "buy" rating to a "hold" rating and set a $235.00 target price on the stock. in a report on Wednesday, July 30th. Hsbc Global Res downgraded American Tower from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 30th. Finally, JMP Securities raised their target price on American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a report on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, American Tower currently has a consensus rating of "Moderate Buy" and a consensus price target of $243.88.

American Tower Stock Down 1.7%

Shares of NYSE:AMT opened at $206.51 on Friday. The firm has a market cap of $96.70 billion, a P/E ratio of 75.09, a P/E/G ratio of 1.20 and a beta of 0.82. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $243.56. The business has a fifty day simple moving average of $218.37 and a 200 day simple moving average of $211.06.

American Tower (NYSE:AMT - Get Free Report) last announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.01. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%. American Tower's revenue for the quarter was down 9.4% compared to the same quarter last year. During the same period last year, the company earned $2.79 EPS. Analysts predict that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 13th were given a $1.70 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 3.3%. American Tower's dividend payout ratio (DPR) is 247.27%.

About American Tower

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.

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