Clarius Group LLC Has $630,000 Stock Holdings in American Tower Co. (NYSE:AMT)

Clarius Group LLC decreased its holdings in shares of American Tower Co. (NYSE:AMT) by 18.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,242 shares of the real estate investment trust’s stock after selling 748 shares during the quarter. Clarius Group LLC’s holdings in American Tower were worth $630,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in American Tower by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust’s stock valued at $12,248,812,000 after purchasing an additional 965,938 shares during the last quarter. Cohen & Steers Inc. grew its stake in shares of American Tower by 3.7% in the fourth quarter. Cohen & Steers Inc. now owns 16,440,715 shares of the real estate investment trust’s stock valued at $3,549,366,000 after acquiring an additional 583,892 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of American Tower by 21.9% in 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 in the last quarter. Principal Financial Group Inc. grew its stake in shares of American Tower by 36.2% in the first 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. Finally, Akre Capital Management LLC grew its stake in shares of American Tower by 0.5% in the fourth quarter. Akre Capital Management LLC now owns 6,804,599 shares of the real estate investment trust’s stock valued at $1,468,977,000 after acquiring an additional 36,375 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Up 0.0 %

NYSE AMT traded up $0.07 during mid-day trading on Friday, hitting $223.68. The company’s stock had a trading volume of 355,397 shares, compared to its average volume of 2,351,097. The firm has a market capitalization of $104.45 billion, a price-to-earnings ratio of 50.58, a PEG ratio of 1.60 and a beta of 0.81. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $236.13. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. The company’s 50 day simple moving average is $204.16 and its 200 day simple moving average is $194.87.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (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 firm had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the prior year, the firm posted $2.46 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. Analysts anticipate that American Tower Co. will post 10.04 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 14th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 2.90%. The ex-dividend date was Friday, June 14th. American Tower’s payout ratio is 146.61%.

Insider Transactions at American Tower

In other news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $232.93, for a total transaction of $508,020.33. Following the completion of the transaction, the chief accounting officer now owns 31,873 shares of the company’s stock, valued at $7,424,177.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other American Tower news, EVP Sanjay Goel sold 3,504 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total value of $702,061.44. Following the completion of the sale, the executive vice president now owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $232.93, for a total value of $508,020.33. Following the completion of the sale, the chief accounting officer now directly owns 31,873 shares of the company’s stock, valued at approximately $7,424,177.89. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,227 shares of company stock valued at $8,497,458. 0.18% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

AMT has been the topic of a number of analyst reports. BMO Capital Markets reiterated an “outperform” rating and set a $246.00 price objective (up from $225.00) on shares of American Tower in a research note on Wednesday, July 31st. Raymond James upgraded shares of American Tower from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $226.00 to $248.00 in a research note on Wednesday, May 1st. Morgan Stanley increased their price objective on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Scotiabank increased their price objective on shares of American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group began coverage on shares of American Tower in a research note on Monday, July 1st. They set a “buy” rating and a $230.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $230.42.

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.