CX Institutional Has $55,000 Stock Position in American Tower Corp (NYSE:AMT)

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CX Institutional boosted its position in American Tower Corp (NYSE:AMT) by 56.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 247 shares of the real estate investment trust’s stock after purchasing an additional 89 shares during the period. CX Institutional’s holdings in American Tower were worth $55,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of the stock. First American Trust FSB raised its holdings in American Tower by 1.2% in the 3rd quarter. First American Trust FSB now owns 27,855 shares of the real estate investment trust’s stock valued at $6,159,000 after acquiring an additional 332 shares during the period. RB Capital Management LLC raised its holdings in American Tower by 2.0% in the 3rd quarter. RB Capital Management LLC now owns 3,813 shares of the real estate investment trust’s stock valued at $859,000 after acquiring an additional 76 shares during the period. Pennsylvania Trust Co raised its holdings in American Tower by 0.3% in the 3rd quarter. Pennsylvania Trust Co now owns 218,506 shares of the real estate investment trust’s stock valued at $48,318,000 after acquiring an additional 717 shares during the period. Nachman Norwood & Parrott Inc bought a new position in American Tower in the 3rd quarter valued at about $215,000. Finally, Cooper Financial Group bought a new position in American Tower in the 3rd quarter valued at about $225,000. Institutional investors and hedge funds own 92.50% of the company’s stock.

In other news, CEO James D. Taiclet, Jr. sold 57,438 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $211.89, for a total transaction of $12,170,537.82. Following the transaction, the chief executive officer now directly owns 255,414 shares of the company’s stock, valued at $54,119,672.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David E. Sharbutt sold 2,039 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $217.59, for a total transaction of $443,666.01. Following the transaction, the director now directly owns 3,936 shares in the company, valued at $856,434.24. The disclosure for this sale can be found here. Insiders have sold 200,001 shares of company stock worth $44,132,010 over the last ninety days. Insiders own 0.75% of the company’s stock.

Several research analysts have weighed in on AMT shares. Citigroup increased their price target on shares of American Tower from $236.00 to $240.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. 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 report on Thursday, August 1st. KeyCorp increased their price target on shares of American Tower from $225.00 to $253.00 and gave the company an “overweight” rating in a report on Monday, August 19th. SunTrust Banks increased their price target on shares of American Tower to $230.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research raised shares of American Tower from a “hold” rating to a “buy” rating and set a $237.00 price target on the stock in a report on Tuesday, August 20th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $206.87.

Shares of AMT opened at $224.45 on Friday. American Tower Corp has a 12 month low of $140.82 and a 12 month high of $242.00. The firm’s 50 day moving average is $225.40 and its 200-day moving average is $210.11. The stock has a market capitalization of $99.36 billion, a PE ratio of 28.09, a P/E/G ratio of 1.84 and a beta of 0.44. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 4.13.

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

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.95 per share. The ex-dividend date is Thursday, September 26th. This is a boost from American Tower’s previous quarterly dividend of $0.92. This represents a $3.80 annualized dividend and a dividend yield of 1.69%. American Tower’s dividend payout ratio (DPR) is currently 47.56%.

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 approximately 171,000 communications sites.

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

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