Blair William & Co. IL Buys 12,072 Shares of American Tower Corp (NYSE:AMT)

Blair William & Co. IL raised its stake in American Tower Corp (NYSE:AMT) by 2.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 626,669 shares of the real estate investment trust’s stock after purchasing an additional 12,072 shares during the period. American Tower accounts for 0.9% of Blair William & Co. IL’s holdings, making the stock its 26th biggest holding. Blair William & Co. IL’s holdings in American Tower were worth $136,457,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Wesbanco Bank Inc. increased its stake in American Tower by 1.0% in the fourth quarter. Wesbanco Bank Inc. now owns 4,145 shares of the real estate investment trust’s stock valued at $952,000 after purchasing an additional 40 shares in the last quarter. Fiera Capital Corp increased its position in shares of American Tower by 3.4% during the fourth quarter. Fiera Capital Corp now owns 1,301 shares of the real estate investment trust’s stock worth $299,000 after acquiring an additional 43 shares in the last quarter. Goelzer Investment Management Inc. increased its position in shares of American Tower by 0.3% during the first quarter. Goelzer Investment Management Inc. now owns 14,873 shares of the real estate investment trust’s stock worth $3,239,000 after acquiring an additional 43 shares in the last quarter. Gryphon Financial Partners LLC increased its position in shares of American Tower by 0.5% during the fourth quarter. Gryphon Financial Partners LLC now owns 10,231 shares of the real estate investment trust’s stock worth $2,351,000 after acquiring an additional 46 shares in the last quarter. Finally, Institute for Wealth Management LLC. increased its position in shares of American Tower by 2.3% during the first quarter. Institute for Wealth Management LLC. now owns 2,046 shares of the real estate investment trust’s stock worth $446,000 after acquiring an additional 46 shares in the last quarter. 91.73% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently commented on AMT. Citigroup raised shares of American Tower from a “neutral” rating to a “buy” rating and set a $280.00 target price for the company in a research report on Thursday, March 5th. New Street Research raised shares of American Tower from a “neutral” rating to a “buy” rating in a research report on Thursday, March 12th. Raymond James raised shares of American Tower from a “market perform” rating to an “outperform” rating and set a $211.00 target price for the company in a research report on Thursday, March 26th. Credit Suisse Group assumed coverage on shares of American Tower in a report on Tuesday, April 28th. They set an “outperform” rating and a $308.00 price target on the stock. Finally, KeyCorp boosted their price target on shares of American Tower from $254.00 to $273.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $257.38.

AMT traded up $14.27 during midday trading on Friday, reaching $242.43. The company had a trading volume of 2,812,237 shares, compared to its average volume of 1,978,653. The company has a debt-to-equity ratio of 6.91, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a market cap of $101.14 billion, a PE ratio of 56.78, a P/E/G ratio of 1.94 and a beta of 0.44. American Tower Corp has a 12-month low of $174.32 and a 12-month high of $260.43. The business has a 50-day moving average price of $239.56 and a two-hundred day moving average price of $229.48.

American Tower (NYSE:AMT) last released its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.93 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.05 by ($0.12). The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. American Tower had a net margin of 24.55% and a return on equity of 35.63%. The firm’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.84 earnings per share. On average, research analysts anticipate that American Tower Corp will post 8 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 19th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.81%. This is a boost from American Tower’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend is Thursday, June 18th. American Tower’s payout ratio is presently 55.89%.

In related news, EVP Olivier Puech sold 1,186 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $222.71, for a total transaction of $264,134.06. Following the sale, the executive vice president now directly owns 19,626 shares in the company, valued at approximately $4,370,906.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David E. Sharbutt sold 2,200 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $243.60, for a total transaction of $535,920.00. Following the sale, the director now owns 4,097 shares in the company, valued at $998,029.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,392 shares of company stock worth $3,343,752. Corporate insiders own 0.65% of the company’s stock.

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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