AQR Capital Management LLC Acquires 21,682 Shares of American Tower Corp (NYSE:AMT)

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AQR Capital Management LLC grew its holdings in American Tower Corp (NYSE:AMT) by 2.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 869,400 shares of the real estate investment trust’s stock after acquiring an additional 21,682 shares during the period. AQR Capital Management LLC owned about 0.20% of American Tower worth $177,748,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Brookfield Asset Management Inc. raised its holdings in shares of American Tower by 7.5% in the second quarter. Brookfield Asset Management Inc. now owns 1,419,214 shares of the real estate investment trust’s stock valued at $290,158,000 after buying an additional 99,019 shares during the last quarter. Marshall Wace North America L.P. raised its holdings in American Tower by 6,683.5% during the second quarter. Marshall Wace North America L.P. now owns 210,287 shares of the real estate investment trust’s stock worth $42,993,000 after purchasing an additional 207,187 shares in the last quarter. Assetmark Inc. raised its holdings in American Tower by 53.2% during the second quarter. Assetmark Inc. now owns 4,856 shares of the real estate investment trust’s stock worth $993,000 after purchasing an additional 1,686 shares in the last quarter. Kempen Capital Management N.V. raised its holdings in American Tower by 196.9% during the second quarter. Kempen Capital Management N.V. now owns 2,488 shares of the real estate investment trust’s stock worth $509,000 after purchasing an additional 1,650 shares in the last quarter. Finally, BBR Partners LLC raised its holdings in American Tower by 65.2% during the second quarter. BBR Partners LLC now owns 1,731 shares of the real estate investment trust’s stock worth $354,000 after purchasing an additional 683 shares in the last quarter. Hedge funds and other institutional investors own 92.50% of the company’s stock.

American Tower stock traded down $1.83 during midday trading on Friday, hitting $224.45. 1,303,833 shares of the stock were exchanged, compared to its average volume of 1,688,118. The firm has a market cap of $99.36 billion, a P/E ratio of 28.09, a P/E/G ratio of 1.84 and a beta of 0.44. The company has a debt-to-equity ratio of 4.13, a current ratio of 0.49 and a quick ratio of 0.49. American Tower Corp has a 1 year low of $140.82 and a 1 year high of $242.00. The company has a 50 day moving average price of $225.40 and a two-hundred day moving average price of $210.11.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.96 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.87 by ($0.91). The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.83 billion. American Tower had a return on equity of 24.75% and a net margin of 19.30%. American Tower’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.74 earnings per share. As a group, analysts predict that American Tower Corp will post 7.67 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Friday, September 27th will be issued a $0.95 dividend. This is an increase from American Tower’s previous quarterly dividend of $0.92. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, September 26th. American Tower’s payout ratio is presently 47.56%.

In other news, Director Pamela D. A. Reeve sold 4,167 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $240.80, for a total value of $1,003,413.60. Following the completion of the sale, the director now directly owns 19,139 shares in the company, valued at $4,608,671.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Edmund Disanto sold 31,669 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $226.54, for a total transaction of $7,174,295.26. Following the completion of the sale, the executive vice president now directly owns 166,730 shares in the company, valued at approximately $37,771,014.20. The disclosure for this sale can be found here. Insiders sold a total of 200,001 shares of company stock worth $44,132,010 over the last quarter. Insiders own 0.75% of the company’s stock.

Several research analysts recently issued reports on AMT shares. Zacks Investment Research raised shares of American Tower from a “hold” rating to a “buy” rating and set a $237.00 price target for the company in a report on Tuesday, August 20th. Citigroup upped their target price on shares of American Tower from $236.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Morgan Stanley upped their target price on shares of American Tower from $201.00 to $216.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 19th. ValuEngine lowered shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. increased their price target on shares of American Tower from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. American Tower currently has a consensus rating of “Hold” and a consensus target price of $206.87.

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 approximately 171,000 communications sites.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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