American Tower Co. (NYSE:AMT) Shares Acquired by Waverly Advisors LLC

Waverly Advisors LLC increased its holdings in shares of American Tower Co. (NYSE:AMT) by 45.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,603 shares of the real estate investment trust’s stock after acquiring an additional 1,750 shares during the quarter. Waverly Advisors LLC’s holdings in American Tower were worth $1,107,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new stake in shares of American Tower in the first quarter valued at approximately $25,000. Gold Investment Management Ltd. acquired a new stake in shares of American Tower in the 4th quarter worth $28,000. SOA Wealth Advisors LLC. purchased a new position in shares of American Tower during the 1st quarter worth $30,000. Private Wealth Management Group LLC acquired a new position in shares of American Tower during the 4th quarter valued at about $31,000. Finally, Rational Advisors LLC purchased a new stake in shares of American Tower in the first quarter valued at about $35,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In other news, Director Robert D. Hormats sold 700 shares of the company’s 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 completion of the transaction, the director now owns 7,332 shares in the company, valued at approximately $1,345,422. The sale was disclosed in a document filed with the SEC, which is available at this link. In other American Tower news, EVP Sanjay Goel sold 3,504 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total value 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 sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert D. Hormats sold 700 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total transaction of $128,450.00. Following the transaction, the director now owns 7,332 shares in the company, valued at $1,345,422. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

American Tower Stock Performance

Shares of American Tower stock opened at $221.49 on Wednesday. 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 stock has a market capitalization of $103.43 billion, a price-to-earnings ratio of 50.90, a price-to-earnings-growth ratio of 1.51 and a beta of 0.81. The business has a 50-day moving average of $198.63 and a 200 day moving average of $193.69. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $223.46.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.46 EPS. As a group, sell-side analysts forecast that American Tower Co. will post 10.04 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 14th were paid a $1.62 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a yield of 2.93%. American Tower’s dividend payout ratio is currently 146.61%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AMT. Wells Fargo & Company lifted their target price on shares of American Tower from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Raymond James upgraded American Tower from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $226.00 to $248.00 in a report on Wednesday, May 1st. JPMorgan Chase & Co. raised their target price on American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday. The Goldman Sachs Group assumed coverage on American Tower in a research report on Monday, July 1st. They issued a “buy” rating and a $230.00 target price on the stock. Finally, Mizuho assumed coverage on American Tower in a report on Monday, April 8th. They set a “neutral” rating and a $205.00 price target for the company. Three investment 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’s stock. According to data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.92.

American Tower 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.