O Shaughnessy Asset Management LLC Grows Stock Holdings in American Tower Co. (NYSE:AMT)

O Shaughnessy Asset Management LLC lifted its holdings in American Tower Co. (NYSE:AMT) by 9.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 40,273 shares of the real estate investment trust’s stock after purchasing an additional 3,396 shares during the period. O Shaughnessy Asset Management LLC’s holdings in American Tower were worth $7,958,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new stake in shares of American Tower in the first quarter valued at $25,000. Gold Investment Management Ltd. purchased a new stake in American Tower during the 4th quarter worth about $28,000. Thompson Investment Management Inc. acquired a new stake in American Tower in the 4th quarter valued at about $29,000. SOA Wealth Advisors LLC. purchased a new position in shares of American Tower in the 1st quarter valued at about $30,000. Finally, Private Wealth Management Group LLC acquired a new position in shares of American Tower during the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

NYSE AMT traded down $0.13 on Wednesday, reaching $209.39. The stock had a trading volume of 1,867,003 shares, compared to its average volume of 2,320,551. The stock has a market cap of $97.78 billion, a P/E ratio of 47.78, a price-to-earnings-growth ratio of 1.47 and a beta of 0.81. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $219.10. The business’s 50-day moving average price is $196.55 and its 200 day moving average price is $193.57. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.85 and a current ratio of 0.85.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.47). American Tower had a net margin of 18.42% and a return on equity of 18.45%. The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter last year, the company earned $2.54 EPS. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities analysts expect that American Tower Co. will post 10.04 earnings per share for the current year.

American Tower Announces Dividend

The business also recently declared 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. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date was Friday, June 14th. American Tower’s dividend payout ratio is currently 146.61%.

Analyst Ratings Changes

A number of research analysts recently issued reports on AMT shares. 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 target for the company. Wells Fargo & Company boosted 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. Scotiabank cut their price target on American Tower from $243.00 to $223.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, May 1st. BMO Capital Markets decreased their price target on American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Finally, Morgan Stanley increased their price objective on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $222.92.

Insider Activity at American Tower

In other American Tower news, Director Robert D. Hormats sold 700 shares of the 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 completion of the sale, the director now directly owns 7,332 shares of the company’s stock, valued at approximately $1,345,422. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Robert D. Hormats sold 700 shares of the company’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 completion of the sale, the director now owns 7,332 shares in the company, valued at $1,345,422. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, 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 insiders.

About American Tower

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.