SVB Wealth LLC Has $9.66 Million Stock Holdings in American Tower Co. (NYSE:AMT)

SVB Wealth LLC lessened its holdings in American Tower Co. (NYSE:AMT) by 5.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,863 shares of the real estate investment trust’s stock after selling 2,801 shares during the period. SVB Wealth LLC’s holdings in American Tower were worth $9,655,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Northwest Investment Counselors LLC acquired a new stake in shares of American Tower during the first quarter worth approximately $25,000. Gold Investment Management Ltd. bought a new stake in shares of American Tower during the fourth quarter valued at approximately $28,000. SOA Wealth Advisors LLC. bought a new stake in shares of American Tower during the first quarter valued at approximately $30,000. Private Wealth Management Group LLC bought a new stake in shares of American Tower during the fourth quarter valued at approximately $31,000. Finally, Rational Advisors LLC bought a new stake in shares of American Tower during the first quarter valued at approximately $35,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Up 0.6 %

AMT traded up $1.32 during mid-day trading on Monday, hitting $215.04. The stock had a trading volume of 1,607,810 shares, compared to its average volume of 2,310,986. The stock’s fifty day simple moving average is $197.59 and its 200-day simple moving average is $193.54. The company has a debt-to-equity ratio of 3.39, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $100.42 billion, a price-to-earnings ratio of 48.35, a price-to-earnings-growth ratio of 1.50 and a beta of 0.81. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). American Tower had a return on equity of 18.45% and a net margin of 18.42%. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same quarter in the previous year, the business earned $2.54 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. As a group, research analysts forecast that American Tower Co. will post 10.04 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 14th were issued a dividend of $1.62 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.01%. American Tower’s payout ratio is 146.61%.

Insider Buying and Selling

In related news, Director Robert D. Hormats sold 700 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $183.50, for a total transaction of $128,450.00. Following the sale, the director now directly owns 7,332 shares in the company, valued at $1,345,422. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other American Tower news, Director Robert D. Hormats sold 700 shares of American Tower stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $183.50, for a total value of $128,450.00. Following the sale, the director now directly owns 7,332 shares in the company, valued at approximately $1,345,422. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sanjay Goel sold 3,504 shares of American Tower stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total transaction of $702,061.44. Following the completion of the sale, the executive vice president now owns 28,413 shares in the company, valued at $5,692,828.68. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on AMT. Barclays decreased their price target on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Morgan Stanley raised their price objective on shares of American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Wells Fargo & Company raised their price objective on shares of American Tower from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. The Goldman Sachs Group began coverage on shares of American Tower in a research note on Monday, July 1st. They issued a “buy” rating and a $230.00 price objective on the stock. Finally, Mizuho began coverage on shares of American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average target price of $222.92.

American Tower Company Profile

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.