American Tower Co. (NYSE:AMT) Holdings Lifted by Mather Group LLC.

Mather Group LLC. boosted its holdings in American Tower Co. (NYSE:AMT) by 11.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,524 shares of the real estate investment trust’s stock after acquiring an additional 681 shares during the quarter. Mather Group LLC.’s holdings in American Tower were worth $1,289,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of AMT. Norges Bank purchased a new position in American Tower in the 4th quarter worth about $1,051,898,000. Wellington Management Group LLP raised its holdings in shares of American Tower by 21.9% during the fourth quarter. Wellington Management Group LLP now owns 15,823,622 shares of the real estate investment trust’s stock valued at $3,416,004,000 after acquiring an additional 2,839,570 shares during the period. Principal Financial Group Inc. lifted its position in shares of American Tower by 36.2% in the 1st quarter. Principal Financial Group Inc. now owns 8,794,776 shares of the real estate investment trust’s stock valued at $1,737,760,000 after acquiring an additional 2,336,501 shares in the last quarter. Edgewood Management LLC boosted its stake in American Tower by 46.2% in the 4th quarter. Edgewood Management LLC now owns 4,985,879 shares of the real estate investment trust’s stock worth $1,076,352,000 after purchasing an additional 1,576,683 shares during the period. Finally, Jennison Associates LLC grew its position in American Tower by 41.0% during the 4th quarter. Jennison Associates LLC now owns 5,299,306 shares of the real estate investment trust’s stock worth $1,144,014,000 after purchasing an additional 1,541,029 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $232.93, for a total transaction of $508,020.33. Following the completion of the sale, the chief accounting officer now directly owns 31,873 shares in the company, valued at $7,424,177.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total value of $4,953,510.00. Following the sale, the chief executive officer now owns 61,843 shares in the company, valued at $14,223,890. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total transaction of $508,020.33. Following the transaction, the chief accounting officer now owns 31,873 shares of the company’s stock, valued at $7,424,177.89. The disclosure for this sale can be found here. Insiders have sold a total of 37,227 shares of company stock valued at $8,497,458 over the last 90 days. 0.18% of the stock is currently owned by company insiders.

American Tower Stock Up 0.4 %

Shares of AMT traded up $0.97 during mid-day trading on Wednesday, hitting $229.13. 682,092 shares of the company’s stock were exchanged, compared to its average volume of 2,342,958. The stock has a market cap of $107.00 billion, a price-to-earnings ratio of 51.62, a P/E/G ratio of 1.65 and a beta of 0.81. The firm has a fifty day moving average of $202.68 and a two-hundred day moving average of $194.45. The company has a quick ratio of 0.85, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $236.13.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.52). The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. American Tower’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business earned $2.46 earnings per share. On average, 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. Stockholders of record on Friday, June 14th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend was Friday, June 14th. American Tower’s dividend payout ratio is 146.61%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AMT shares. Scotiabank increased their target price on American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 31st. TD Cowen raised their price objective on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company lifted their target price on American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Barclays reduced their price target on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Finally, Morgan Stanley boosted their price objective on shares of American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and an average price target of $230.42.

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.