B&I Capital AG Grows Stake in American Tower Corporation $AMT

B&I Capital AG increased its holdings in American Tower Corporation (NYSE:AMT) by 16.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,758 shares of the real estate investment trust’s stock after buying an additional 25,518 shares during the quarter. American Tower comprises 12.0% of B&I Capital AG’s portfolio, making the stock its largest holding. B&I Capital AG’s holdings in American Tower were worth $34,763,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in American Tower by 0.3% in the second quarter. Vanguard Group Inc. now owns 63,028,367 shares of the real estate investment trust’s stock worth $13,930,530,000 after purchasing an additional 218,881 shares during the period. JPMorgan Chase & Co. raised its position in shares of American Tower by 24.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock worth $2,799,458,000 after buying an additional 2,474,328 shares in the last quarter. Invesco Ltd. lifted its stake in shares of American Tower by 11.9% in the 2nd quarter. Invesco Ltd. now owns 6,680,524 shares of the real estate investment trust’s stock worth $1,476,529,000 after acquiring an additional 708,808 shares during the period. Norges Bank acquired a new stake in shares of American Tower in the 2nd quarter worth approximately $1,371,875,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of American Tower by 3.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 5,563,565 shares of the real estate investment trust’s stock valued at $1,229,659,000 after acquiring an additional 208,213 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In other American Tower news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total value of $159,631,314.75. Following the completion of the transaction, the insider directly owned 211,379 shares in the company, valued at $14,743,685.25. This trade represents a 91.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.17% of the company’s stock.

American Tower Stock Performance

AMT opened at $179.29 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 3.24. The firm has a market cap of $83.94 billion, a PE ratio of 28.64, a P/E/G ratio of 0.76 and a beta of 0.92. The business has a fifty day simple moving average of $177.44 and a 200-day simple moving average of $190.52. American Tower Corporation has a fifty-two week low of $166.88 and a fifty-two week high of $234.33.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same period in the previous year, the firm earned $2.52 earnings per share. American Tower’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, equities analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, December 29th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.8%. The ex-dividend date is Monday, December 29th. American Tower’s payout ratio is presently 108.63%.

Analyst Upgrades and Downgrades

AMT has been the topic of several recent analyst reports. Morgan Stanley dropped their target price on American Tower from $255.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, December 4th. Barclays reiterated an “equal weight” rating and set a $200.00 price target (down from $203.00) on shares of American Tower in a research report on Monday, December 1st. Raymond James Financial cut their price objective on American Tower from $231.00 to $229.00 and set a “strong-buy” rating for the company in a report on Friday, January 23rd. BMO Capital Markets cut American Tower from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $210.00 to $185.00 in a research note on Friday, January 9th. Finally, Jefferies Financial Group lowered their target price on American Tower from $226.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $218.79.

American Tower Profile

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.