Axa S.A. Boosts Stake in American Tower Co. (NYSE:AMT)

AXA S.A. lifted its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 5.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 523,922 shares of the real estate investment trust's stock after purchasing an additional 26,007 shares during the period. AXA S.A. owned about 0.11% of American Tower worth $101,840,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new stake in American Tower during the first quarter worth $25,000. Cultivar Capital Inc. purchased a new stake in American Tower during the 2nd quarter worth about $25,000. Fairscale Capital LLC purchased a new stake in American Tower during the 2nd quarter worth about $27,000. Gold Investment Management Ltd. purchased a new stake in American Tower during the 4th quarter worth about $28,000. Finally, Hobbs Group Advisors LLC purchased a new stake in American Tower during the 2nd quarter worth about $29,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at American Tower

In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of American Tower stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $232.93, for a total transaction of $508,020.33. Following the completion of the transaction, the chief accounting officer now owns 31,873 shares in the company, valued at $7,424,177.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value of $4,953,510.00. Following the completion of the sale, the chief executive officer now owns 61,843 shares of the company's stock, valued at approximately $14,223,890. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of American Tower stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $232.93, for a total value of $508,020.33. Following the completion of the sale, the chief accounting officer now directly owns 31,873 shares of the company's stock, valued at approximately $7,424,177.89. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,723 shares of company stock worth $7,795,397. 0.18% of the stock is owned by insiders.

American Tower Trading Down 0.2 %

Shares of AMT stock traded down $0.42 during trading hours on Wednesday, reaching $236.05. The company's stock had a trading volume of 525,052 shares, compared to its average volume of 2,307,295. The stock has a market capitalization of $110.25 billion, a P/E ratio of 53.40, a P/E/G ratio of 1.08 and a beta of 0.83. American Tower Co. has a one year low of $154.58 and a one year high of $243.56. The firm's fifty day simple moving average is $225.65 and its 200 day simple moving average is $202.82. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing analysts' consensus estimates of $2.44 by ($0.52). The firm had revenue of $2.90 billion during the quarter, compared to analysts' expectations of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The company's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.46 EPS. Equities research analysts expect that American Tower Co. will post 10.15 EPS for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Wednesday, October 9th. American Tower's payout ratio is 146.61%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on American Tower from $240.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday. The Goldman Sachs Group started coverage on American Tower in a report on Monday, July 1st. They issued a "buy" rating and a $230.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised their price target on American Tower from $212.00 to $235.00 and gave the company a "buy" rating in a report on Wednesday, August 14th. TD Cowen increased their price objective on American Tower from $226.00 to $239.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. Finally, Barclays reduced their price objective on American Tower from $234.00 to $223.00 and set an "overweight" rating on the stock in a research report on Thursday, May 30th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $234.00.

American Tower Company 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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.