Claro Advisors LLC Increases Holdings in American Tower Co. (NYSE:AMT)

Claro Advisors LLC raised its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 639.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,240 shares of the real estate investment trust's stock after purchasing an additional 10,585 shares during the quarter. Claro Advisors LLC's holdings in American Tower were worth $2,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Northwest Investment Counselors LLC purchased a new position in American Tower in the first quarter worth $25,000. Cultivar Capital Inc. purchased a new stake in American Tower in the second quarter worth approximately $25,000. Fairscale Capital LLC bought a new position in American Tower during the second quarter valued at approximately $27,000. Hobbs Group Advisors LLC purchased a new position in shares of American Tower during the second quarter worth approximately $29,000. Finally, SOA Wealth Advisors LLC. purchased a new stake in shares of American Tower in the 1st quarter valued at $30,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AMT shares. StockNews.com upgraded American Tower from a "hold" rating to a "buy" rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft boosted their price objective on American Tower from $212.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday, August 14th. BMO Capital Markets raised their target price on shares of American Tower from $246.00 to $260.00 and gave the stock an "outperform" rating in a report on Friday, September 13th. The Goldman Sachs Group began coverage on shares of American Tower in a research report on Monday, July 1st. They set a "buy" rating and a $230.00 price target for the company. Finally, TD Cowen boosted their price objective on shares of American Tower from $226.00 to $239.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $237.92.

Insider Transactions at American Tower

In other American Tower news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total value of $2,333,866.35. Following the completion of the sale, the executive vice president now owns 51,746 shares of the company's stock, valued at approximately $12,070,789.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Olivier Puech sold 10,005 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the transaction, the executive vice president now owns 51,746 shares in the company, valued at $12,070,789.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business's stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total transaction of $508,020.33. Following the sale, the chief accounting officer now owns 31,873 shares of the company's stock, valued at approximately $7,424,177.89. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,723 shares of company stock valued at $7,795,397 in the last quarter. 0.18% of the stock is owned by insiders.

American Tower Stock Up 1.0 %

NYSE AMT traded up $2.14 during trading hours on Friday, reaching $226.30. 1,441,440 shares of the company's stock traded hands, compared to its average volume of 2,280,343. American Tower Co. has a 52-week low of $157.25 and a 52-week high of $243.56. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a 50-day simple moving average of $228.55 and a 200 day simple moving average of $206.18. The firm has a market cap of $105.68 billion, a PE ratio of 51.12, a PEG ratio of 1.01 and a beta of 0.83.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.52). The business had revenue of $2.90 billion for 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%. American Tower's revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.46 earnings per share. Sell-side analysts anticipate that American Tower Co. will post 10.13 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be issued a dividend of $1.62 per share. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 2.86%. American Tower's payout ratio is presently 146.61%.

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