Raiffeisen Bank International AG boosted its stake in American Tower Corporation (NYSE:AMT - Free Report) by 19.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,191 shares of the real estate investment trust's stock after purchasing an additional 6,427 shares during the quarter. Raiffeisen Bank International AG's holdings in American Tower were worth $8,665,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Cohen & Steers Inc. lifted its holdings in shares of American Tower by 21.8% during the 4th quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust's stock worth $3,516,890,000 after acquiring an additional 3,437,602 shares during the period. Capital Research Global Investors lifted its stake in American Tower by 66.5% during the fourth quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust's stock worth $1,570,547,000 after purchasing an additional 3,421,413 shares during the last quarter. Capital World Investors lifted its stake in American Tower by 160.6% during the fourth quarter. Capital World Investors now owns 4,920,100 shares of the real estate investment trust's stock worth $902,396,000 after purchasing an additional 3,032,005 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of American Tower by 23,627.3% in the 1st quarter. GAMMA Investing LLC now owns 1,701,957 shares of the real estate investment trust's stock valued at $370,346,000 after purchasing an additional 1,694,784 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of American Tower by 272.0% in the 1st quarter. Bessemer Group Inc. now owns 1,136,903 shares of the real estate investment trust's stock valued at $247,390,000 after purchasing an additional 831,247 shares during the last quarter. Institutional investors own 92.69% of the company's stock.
Insider Buying and Selling at American Tower
In related news, CEO Juan Font sold 720 shares of the business's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value of $149,997.60. Following the transaction, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. The trade was a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by company insiders.
American Tower Stock Up 1.8%
Shares of AMT opened at $212.18 on Monday. The stock's 50-day moving average price is $218.73 and its two-hundred day moving average price is $210.67. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $243.56. The company has a market capitalization of $99.33 billion, a PE ratio of 77.16, a PEG ratio of 1.17 and a beta of 0.82. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36.
American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, topping analysts' consensus estimates of $2.59 by $0.01. The company had revenue of $2.63 billion for 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%. The firm's quarterly revenue was down 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.79 earnings per share. On average, analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.
American Tower Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 13th were given a dividend of $1.70 per share. The ex-dividend date was Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 3.2%. American Tower's dividend payout ratio is 247.27%.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on AMT. The Goldman Sachs Group restated a "buy" rating on shares of American Tower in a research report on Tuesday, July 29th. Scotiabank increased their target price on shares of American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a report on Wednesday, April 30th. Wells Fargo & Company decreased their price target on shares of American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Hsbc Global Res cut shares of American Tower from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Finally, HSBC lowered shares of American Tower from a "buy" rating to a "hold" rating and set a $235.00 target price on the stock. in a research report on Wednesday, July 30th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $243.88.
Get Our Latest Research Report on American Tower
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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