1,197 Shares in American Tower Co. (NYSE:AMT) Acquired by Keynote Financial Services LLC

Keynote Financial Services LLC acquired a new stake in shares of American Tower Co. (NYSE:AMT) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,197 shares of the real estate investment trust’s stock, valued at approximately $237,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cross Staff Investments Inc lifted its stake in American Tower by 5.1% during the 4th quarter. Cross Staff Investments Inc now owns 5,027 shares of the real estate investment trust’s stock valued at $1,085,000 after acquiring an additional 244 shares during the period. Anchor Capital Advisors LLC increased its holdings in shares of American Tower by 38.1% during the 4th quarter. Anchor Capital Advisors LLC now owns 76,625 shares of the real estate investment trust’s stock valued at $16,542,000 after purchasing an additional 21,139 shares in the last quarter. Meyer Handelman Co. purchased a new position in shares of American Tower during the 1st quarter valued at approximately $801,000. TD Asset Management Inc increased its holdings in shares of American Tower by 23.2% during the 4th quarter. TD Asset Management Inc now owns 275,428 shares of the real estate investment trust’s stock valued at $59,459,000 after purchasing an additional 51,882 shares in the last quarter. Finally, Kingsview Wealth Management LLC increased its holdings in shares of American Tower by 13.8% during the 1st quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock valued at $7,613,000 after purchasing an additional 4,660 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Trading Up 2.9 %

Shares of AMT stock traded up $6.71 on Friday, hitting $234.64. 4,750,517 shares of the stock traded hands, compared to its average volume of 1,800,808. The firm’s 50-day moving average price is $201.02 and its two-hundred day moving average price is $194.19. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $236.00. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.85 and a current ratio of 0.81. The stock has a market capitalization of $109.57 billion, a PE ratio of 53.09, a PEG ratio of 1.60 and a beta of 0.81.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period in the previous year, the company earned $2.46 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, analysts anticipate that American Tower Co. will post 10.04 EPS for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 14th were given 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 2.76%. American Tower’s payout ratio is currently 146.61%.

Analyst Ratings Changes

AMT has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday. Mizuho initiated coverage on shares of American Tower in a report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price target for the company. The Goldman Sachs Group initiated coverage on shares of American Tower in a report on Monday, July 1st. They issued a “buy” rating and a $230.00 price target for the company. StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Scotiabank boosted their price target on shares of American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $230.42.

Insider Buying and Selling at American Tower

In other American Tower news, EVP Sanjay Goel sold 3,504 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total transaction of $702,061.44. Following the sale, the executive vice president now directly owns 28,413 shares in the company, valued at $5,692,828.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

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.