American Tower Corp (NYSE:AMT) is Brasada Capital Management LP’s 2nd Largest Position

Brasada Capital Management LP raised its position in American Tower Corp (NYSE:AMT) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 61,841 shares of the real estate investment trust’s stock after buying an additional 523 shares during the period. American Tower accounts for 3.7% of Brasada Capital Management LP’s investment portfolio, making the stock its 2nd biggest holding. Brasada Capital Management LP’s holdings in American Tower were worth $13,675,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of AMT. Northwest Investment Counselors LLC purchased a new stake in shares of American Tower during the 3rd quarter worth approximately $25,000. Nelson Roberts Investment Advisors LLC purchased a new stake in shares of American Tower during the 2nd quarter worth approximately $27,000. Next Capital Management LLC purchased a new stake in shares of American Tower during the 2nd quarter worth approximately $31,000. NewSquare Capital LLC increased its stake in shares of American Tower by 192.3% during the 2nd quarter. NewSquare Capital LLC now owns 152 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. Finally, CX Institutional increased its stake in shares of American Tower by 54.9% during the 2nd quarter. CX Institutional now owns 158 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 92.54% of the company’s stock.

American Tower stock opened at $205.87 on Friday. American Tower Corp has a 1-year low of $150.66 and a 1-year high of $242.00. The firm has a market capitalization of $91.20 billion, a price-to-earnings ratio of 25.77, a P/E/G ratio of 1.65 and a beta of 0.43. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 4.40. The firm has a 50 day simple moving average of $220.99 and a 200 day simple moving average of $213.42.

American Tower (NYSE:AMT) last released its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.17. American Tower had a net margin of 20.58% and a return on equity of 27.12%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the business earned $1.85 EPS. American Tower’s revenue was up 9.5% compared to the same quarter last year. On average, equities research analysts forecast that American Tower Corp will post 7.65 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Friday, September 27th were paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 1.85%. This is a positive change from American Tower’s previous quarterly dividend of $0.92. The ex-dividend date was Thursday, September 26th. American Tower’s payout ratio is currently 47.56%.

In other American Tower news, Director Craig Macnab sold 5,953 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $225.46, for a total value of $1,342,163.38. Following the completion of the transaction, the director now directly owns 14,341 shares of the company’s stock, valued at approximately $3,233,321.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Robert Joseph Meyer, Jr. sold 1,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $206.78, for a total transaction of $206,780.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 141,524 shares of company stock valued at $31,726,127. Insiders own 0.75% of the company’s stock.

Several brokerages have recently issued reports on AMT. ValuEngine lowered shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. raised their price target on shares of American Tower from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded shares of American Tower from a “hold” rating to a “buy” rating and set a $237.00 price target for the company in a research note on Tuesday, August 20th. SunTrust Banks raised their price target on shares of American Tower to $230.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Citigroup lifted their price objective on shares of American Tower from $236.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $215.79.

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 171,000 communications sites.

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

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