Blair William & Co. IL Grows Stock Holdings in American Tower Co. (NYSE:AMT)

Blair William & Co. IL increased its stake in American Tower Co. (NYSE:AMT) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 774,615 shares of the real estate investment trust’s stock after buying an additional 13,258 shares during the period. Blair William & Co. IL owned 0.17% of American Tower worth $150,570,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new stake in shares of American Tower in the first quarter worth $25,000. Cultivar Capital Inc. purchased a new stake in American Tower during the 2nd quarter valued at about $25,000. Gold Investment Management Ltd. bought a new stake in American Tower during the 4th quarter valued at about $28,000. Hobbs Group Advisors LLC purchased a new position in American Tower in the second quarter worth about $29,000. Finally, SOA Wealth Advisors LLC. bought a new position in shares of American Tower in the first quarter worth approximately $30,000. Institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. BMO Capital Markets upped their price objective on American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, September 13th. Mizuho upped their price target on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. TD Cowen lifted their price objective on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Wells Fargo & Company upped their target price on shares of American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lifted their price target on shares of American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, American Tower has an average rating of “Moderate Buy” and an average target price of $233.29.

Insider Buying and Selling

In other news, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value of $4,953,510.00. Following the transaction, the chief executive officer now directly owns 61,843 shares in the company, valued at $14,223,890. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of American Tower stock in a transaction that occurred 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 sale, the chief accounting officer now owns 31,873 shares in the company, valued at $7,424,177.89. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the completion of the transaction, the chief executive officer now directly owns 61,843 shares in the company, valued at approximately $14,223,890. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,723 shares of company stock valued at $7,795,397. Company insiders own 0.18% of the company’s stock.

American Tower Stock Performance

NYSE:AMT opened at $239.44 on Wednesday. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50-day simple moving average of $222.80 and a two-hundred day simple moving average of $201.79. The firm has a market capitalization of $111.84 billion, a PE ratio of 54.17, a P/E/G ratio of 1.57 and a beta of 0.83. American Tower Co. has a 52-week low of $154.58 and a 52-week high of $243.56.

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 company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter last year, the firm posted $2.46 earnings per share. The company’s revenue was up 4.7% compared to the same quarter last year. Analysts forecast that American Tower Co. will post 10.18 EPS for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is 146.61%.

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.