American Tower Corp (AMT) Stake Increased by Appleton Partners Inc. MA

Appleton Partners Inc. MA grew its position in American Tower Corp (NYSE:AMT) by 0.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 65,875 shares of the real estate investment trust’s stock after buying an additional 370 shares during the period. American Tower accounts for about 1.3% of Appleton Partners Inc. MA’s portfolio, making the stock its 16th largest position. Appleton Partners Inc. MA’s holdings in American Tower were worth $9,572,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Alexandria Capital LLC raised its position in American Tower by 3.6% during the 1st quarter. Alexandria Capital LLC now owns 37,584 shares of the real estate investment trust’s stock worth $5,463,000 after buying an additional 1,302 shares during the last quarter. Hermes Investment Management Ltd. raised its holdings in American Tower by 2.6% in the 2nd quarter. Hermes Investment Management Ltd. now owns 428,455 shares of the real estate investment trust’s stock valued at $61,770,000 after buying an additional 10,865 shares during the period. Metropolitan Life Insurance Co. NY raised its holdings in American Tower by 2.3% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 88,277 shares of the real estate investment trust’s stock valued at $12,727,000 after buying an additional 1,981 shares during the period. Advisors Asset Management Inc. raised its holdings in American Tower by 10.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 150,440 shares of the real estate investment trust’s stock valued at $21,689,000 after buying an additional 13,702 shares during the period. Finally, Greystone Managed Investments Inc. raised its holdings in American Tower by 1.4% in the 2nd quarter. Greystone Managed Investments Inc. now owns 77,712 shares of the real estate investment trust’s stock valued at $11,204,000 after buying an additional 1,108 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

In other news, Chairman James D. Taiclet, Jr. sold 43,808 shares of the business’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $150.65, for a total transaction of $6,599,675.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Edmund Disanto sold 13,000 shares of the business’s stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $146.78, for a total value of $1,908,140.00. Following the transaction, the executive vice president now directly owns 160,021 shares of the company’s stock, valued at $23,487,882.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,281 shares of company stock valued at $12,014,625. Corporate insiders own 0.87% of the company’s stock.

A number of analysts have issued reports on the stock. Argus boosted their price target on shares of American Tower from $154.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, August 20th. Cowen reiterated a “buy” rating and set a $161.00 price target on shares of American Tower in a research note on Wednesday, August 1st. Deutsche Bank boosted their price target on shares of American Tower from $155.00 to $169.00 and gave the stock a “buy” rating in a research note on Wednesday, August 1st. SunTrust Banks reiterated a “buy” rating and set a $167.00 price target on shares of American Tower in a research note on Friday, July 20th. Finally, Guggenheim reiterated a “hold” rating and set a $160.00 price target on shares of American Tower in a research note on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. American Tower currently has an average rating of “Buy” and an average target price of $162.14.

NYSE:AMT traded up $0.85 on Tuesday, reaching $146.64. 4,829 shares of the company’s stock were exchanged, compared to its average volume of 2,183,758. The company has a debt-to-equity ratio of 2.99, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market capitalization of $64.05 billion, a PE ratio of 22.87, a price-to-earnings-growth ratio of 1.55 and a beta of 0.80. American Tower Corp has a 52-week low of $130.37 and a 52-week high of $155.28.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, July 31st. The real estate investment trust reported $0.69 EPS for the quarter, missing the Zacks’ consensus estimate of $1.73 by ($1.04). American Tower had a return on equity of 16.72% and a net margin of 16.34%. The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period in the prior year, the firm posted $1.58 earnings per share. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. Analysts expect that American Tower Corp will post 7.1 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 17th. Stockholders of record on Friday, September 28th will be given a dividend of $0.79 per share. The ex-dividend date is Thursday, September 27th. This is an increase from American Tower’s previous quarterly dividend of $0.77. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.15%. American Tower’s payout ratio is currently 49.53%.

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 170,000 communications sites.

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

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