S Bank Fund Management Ltd Invests $873,000 in American Tower Corporation (NYSE:AMT)

Key Points

• S Bank Fund Management Ltd acquired 4,014 shares of American Tower Corporation, valued at approximately $873,000, marking a new investment in the real estate investment trust.
• American Tower Corporation reported a quarterly EPS of $2.60, exceeding analyst expectations, and a total revenue of $2.63 billion, despite a year-over-year decline of 9.4%.
• The company announced a quarterly dividend of $1.70, which represents an annualized dividend yield of 3.3%, with a high payout ratio of 247.27%.

S Bank Fund Management Ltd acquired a new position in shares of American Tower Corporation (NYSE:AMT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,014 shares of the real estate investment trust's stock, valued at approximately $873,000.

Other hedge funds also recently added to or reduced their stakes in the company. North Capital Inc. acquired a new position in American Tower during the 1st quarter worth $25,000. Hopwood Financial Services Inc. grew its holdings in American Tower by 100.0% during the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock worth $26,000 after acquiring an additional 60 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in American Tower during the 1st quarter worth $31,000. Lowe Wealth Advisors LLC boosted its holdings in shares of American Tower by 218.0% in the 1st quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 109 shares during the period. Finally, Minot DeBlois Advisors LLC acquired a new position in shares of American Tower in the 4th quarter valued at about $29,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. UBS Group lifted their price target on shares of American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Scotiabank lifted their price target on shares of American Tower from $234.00 to $248.00 and gave the company 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 for the company in a report on Wednesday, July 30th. JMP Securities lifted their price target on shares of American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a report on Wednesday, April 30th. Finally, Barclays lifted their price objective on shares of American Tower from $223.00 to $246.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Four 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $243.88.

American Tower Price Performance

Shares of AMT stock traded down $0.33 during midday trading on Thursday, reaching $203.82. 2,636,869 shares of the company were exchanged, compared to its average volume of 2,192,818. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $243.56. The company has a market cap of $95.44 billion, a P/E ratio of 74.12, a PEG ratio of 1.16 and a beta of 0.82. The company's 50 day moving average price is $217.56 and its two-hundred day moving average price is $211.54. 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 released its quarterly earnings results 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. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the previous year, the firm earned $2.79 EPS. American Tower's revenue was down 9.4% on a year-over-year basis. On average, sell-side analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

Insider Activity at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the business's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the sale, the chief executive officer directly owned 23,425 shares in the company, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.17% of the company's stock.

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.