Vanderbilt University boosted its holdings in American Tower Co. (NYSE:AMT - Free Report) by 23.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 44,773 shares of the real estate investment trust's stock after purchasing an additional 8,642 shares during the quarter. American Tower comprises approximately 1.9% of Vanderbilt University's investment portfolio, making the stock its 7th largest holding. Vanderbilt University's holdings in American Tower were worth $10,412,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in American Tower by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust's stock worth $12,248,812,000 after acquiring an additional 965,938 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of American Tower by 41.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust's stock worth $1,243,333,000 after buying an additional 1,885,421 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of American Tower by 8.9% in the 2nd quarter. Clearbridge Investments LLC now owns 3,705,145 shares of the real estate investment trust's stock worth $720,206,000 after buying an additional 302,676 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of American Tower by 16.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,310,893 shares of the real estate investment trust's stock worth $643,571,000 after buying an additional 464,429 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of American Tower by 0.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,630,644 shares of the real estate investment trust's stock worth $315,868,000 after buying an additional 6,193 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on AMT. BMO Capital Markets boosted their price target 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. Scotiabank boosted their price objective on American Tower from $223.00 to $248.00 and gave the company a "sector outperform" rating in a research note on Wednesday, July 31st. Royal Bank of Canada boosted their price objective on American Tower from $225.00 to $236.00 and gave the company an "outperform" rating in a research note on Thursday, August 15th. Barclays boosted their price objective on American Tower from $223.00 to $255.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. Finally, The Goldman Sachs Group started coverage on American Tower in a research note on Monday, July 1st. They issued a "buy" rating and a $230.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $237.92.
View Our Latest Research Report on AMT
American Tower Price Performance
Shares of AMT traded down $0.57 during midday trading on Monday, hitting $222.23. 1,934,518 shares of the company traded hands, compared to its average volume of 2,270,272. The stock has a 50-day moving average of $228.85 and a 200-day moving average of $208.15. American Tower Co. has a one year low of $169.70 and a one year high of $243.56. The firm has a market cap of $103.80 billion, a P/E ratio of 41.77, a PEG ratio of 1.09 and a beta of 0.83. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81.
American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.52). The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. The firm's revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $2.46 earnings per share. As a group, sell-side analysts predict that American Tower Co. will post 10.08 EPS for the current fiscal year.
American Tower Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower's dividend payout ratio (DPR) is 121.80%.
Insider Buying and Selling
In related news, EVP Olivier Puech sold 10,005 shares of the company's stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total value of $2,333,866.35. Following the transaction, the executive vice president now directly owns 51,746 shares in the company, valued at approximately $12,070,789.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other American Tower news, EVP Olivier Puech sold 10,005 shares of the company's stock in a transaction that occurred 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 $12,070,789.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the company's stock in a transaction that occurred 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,723 shares of company stock worth $7,795,397. Insiders own 0.18% of the company's stock.
American Tower Company Profile
(
Free Report)
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.
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