BB&T Securities LLC grew its holdings in shares of American Tower Corp (NYSE:AMT) by 17.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,331 shares of the real estate investment trust’s stock after purchasing an additional 3,675 shares during the quarter. BB&T Securities LLC’s holdings in American Tower were worth $3,507,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in AMT. BlackRock Inc. raised its holdings in shares of American Tower by 8.9% during the 2nd quarter. BlackRock Inc. now owns 29,362,957 shares of the real estate investment trust’s stock valued at $4,233,258,000 after purchasing an additional 2,410,425 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of American Tower by 50.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,318,298 shares of the real estate investment trust’s stock valued at $772,961,000 after purchasing an additional 1,782,280 shares in the last quarter. AustralianSuper Pty Ltd bought a new position in shares of American Tower during the 2nd quarter valued at $155,992,000. Atlanta Capital Management Co. L L C raised its holdings in shares of American Tower by 320.1% during the 1st quarter. Atlanta Capital Management Co. L L C now owns 726,943 shares of the real estate investment trust’s stock valued at $105,654,000 after purchasing an additional 553,893 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of American Tower by 55.8% during the 1st quarter. Millennium Management LLC now owns 1,229,304 shares of the real estate investment trust’s stock valued at $178,667,000 after purchasing an additional 440,299 shares in the last quarter. Institutional investors and hedge funds own 93.31% of the company’s stock.
Shares of AMT opened at $148.72 on Friday. The firm has a market capitalization of $64.80 billion, a P/E ratio of 23.31, a PEG ratio of 1.56 and a beta of 0.82. American Tower Corp has a one year low of $130.37 and a one year high of $155.28. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.99.
American Tower (NYSE:AMT) last announced its earnings results on Tuesday, July 31st. The real estate investment trust reported $0.69 EPS for the quarter, missing the consensus estimate of $1.73 by ($1.04). The firm had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.75 billion. American Tower had a return on equity of 16.72% and a net margin of 16.34%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.58 EPS. research analysts expect that American Tower Corp will post 7.1 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 17th. Shareholders of record on Friday, September 28th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.12%. This is a positive change from American Tower’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Thursday, September 27th. American Tower’s dividend payout ratio (DPR) is currently 48.28%.
Several research analysts recently commented on the stock. Morgan Stanley lifted their target price 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. 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 report on Monday, August 20th. Raymond James downgraded shares of American Tower from an “outperform” rating to a “market perform” rating in a report on Monday, July 9th. SunTrust Banks reiterated a “buy” rating and issued a $167.00 target price on shares of American Tower in a report on Friday, July 20th. Finally, Guggenheim downgraded shares of American Tower from a “buy” rating to a “neutral” rating and set a $135.00 target price on the stock. in a report on Monday, July 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $162.14.
In other American Tower news, Chairman James D. Taiclet, Jr. sold 43,843 shares of the firm’s stock in a transaction on Monday, July 9th. The shares were sold at an average price of $142.66, for a total value of $6,254,642.38. Following the sale, the chairman now directly owns 223,227 shares in the company, valued at approximately $31,845,563.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pamela D. A. Reeve sold 7,152 shares of the firm’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $148.92, for a total transaction of $1,065,075.84. The disclosure for this sale can be found here. Insiders sold a total of 124,124 shares of company stock worth $18,269,268 over the last 90 days. Company insiders own 0.87% of the company’s stock.
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 approximately 170,000 communications sites.
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