American Tower Corp (AMT) Shares Bought by B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund

B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund lifted its position in American Tower Corp (NYSE:AMT) by 5.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 155,705 shares of the real estate investment trust’s stock after acquiring an additional 7,830 shares during the period. American Tower comprises approximately 3.6% of B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings, making the stock its 7th largest position. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings in American Tower were worth $22,448,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Alexandria Capital LLC increased its position in shares of American Tower by 3.6% in the first quarter. Alexandria Capital LLC now owns 37,584 shares of the real estate investment trust’s stock worth $5,463,000 after acquiring an additional 1,302 shares in the last quarter. Hermes Investment Management Ltd. increased its position in shares of American Tower by 2.6% in the second quarter. Hermes Investment Management Ltd. now owns 428,455 shares of the real estate investment trust’s stock worth $61,770,000 after acquiring an additional 10,865 shares in the last quarter. Greystone Managed Investments Inc. increased its position in shares of American Tower by 1.4% in the second quarter. Greystone Managed Investments Inc. now owns 77,712 shares of the real estate investment trust’s stock worth $11,204,000 after acquiring an additional 1,108 shares in the last quarter. Beaumont Financial Partners LLC increased its position in shares of American Tower by 48.4% in the first quarter. Beaumont Financial Partners LLC now owns 4,554 shares of the real estate investment trust’s stock worth $662,000 after acquiring an additional 1,485 shares in the last quarter. Finally, Cumberland Partners Ltd purchased a new position in shares of American Tower in the second quarter worth approximately $466,000. 93.31% of the stock is currently owned by institutional investors and hedge funds.

AMT stock opened at $148.72 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.99. The company has a market cap of $64.80 billion, a P/E ratio of 23.31, a P/E/G ratio of 1.56 and a beta of 0.82. American Tower Corp has a 52 week low of $130.37 and a 52 week high of $155.28.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, July 31st. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.73 by ($1.04). The business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.75 billion. American Tower had a net margin of 16.34% and a return on equity of 16.72%. American Tower’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.58 earnings per share. analysts anticipate that American Tower Corp will post 7.1 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 17th. Shareholders of record on Friday, September 28th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This is a boost from American Tower’s previous quarterly dividend of $0.77. This represents a $3.16 dividend on an annualized basis and a yield of 2.12%. American Tower’s payout ratio is 48.28%.

Several research firms have recently weighed in on AMT. Argus lifted their target price on shares of American Tower from $154.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, August 20th. Morgan Stanley raised their price target on shares of American Tower from $154.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, August 16th. Guggenheim restated a “hold” rating and set a $160.00 price target on shares of American Tower in a report on Tuesday, August 7th. Oppenheimer raised their price target on shares of American Tower from $167.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, August 1st. Finally, Cowen restated a “buy” rating and set a $161.00 price target on shares of American Tower in a report on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. American Tower has an average rating of “Buy” and an average target price of $162.14.

In other American Tower news, Director Pamela D. A. Reeve sold 7,152 shares of American Tower stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $148.92, for a total value of $1,065,075.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Edmund Disanto sold 13,000 shares of American Tower stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $146.78, for a total transaction of $1,908,140.00. Following the completion of the sale, the executive vice president now owns 160,021 shares of the company’s stock, valued at $23,487,882.38. The disclosure for this sale can be found here. Insiders sold 124,124 shares of company stock valued at $18,269,268 over the last quarter. Corporate insiders own 0.87% 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 170,000 communications sites.

Read More: Intrinsic Value

Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corp (NYSE:AMT).

Institutional Ownership by Quarter for American Tower (NYSE:AMT)

Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply