American Tower Corporation $AMT Stock Holdings Lifted by Third View Private Wealth LLC

Third View Private Wealth LLC boosted its stake in American Tower Corporation (NYSE:AMT) by 46.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,533 shares of the real estate investment trust’s stock after purchasing an additional 10,064 shares during the quarter. Third View Private Wealth LLC’s holdings in American Tower were worth $5,162,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dynamic Wealth Strategies LLC raised its position in shares of American Tower by 11.1% in the 3rd quarter. Dynamic Wealth Strategies LLC now owns 549 shares of the real estate investment trust’s stock valued at $90,000 after buying an additional 55 shares in the last quarter. TOWER TRUST & INVESTMENT Co lifted its holdings in shares of American Tower by 1.2% during the 3rd quarter. TOWER TRUST & INVESTMENT Co now owns 5,002 shares of the real estate investment trust’s stock worth $819,000 after acquiring an additional 58 shares during the period. Pinnacle Bancorp Inc. boosted its position in shares of American Tower by 1.3% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 4,491 shares of the real estate investment trust’s stock worth $736,000 after acquiring an additional 59 shares in the last quarter. William Allan Corp boosted its position in shares of American Tower by 4.7% during the 3rd quarter. William Allan Corp now owns 1,391 shares of the real estate investment trust’s stock worth $228,000 after acquiring an additional 62 shares in the last quarter. Finally, Community Financial Services Group LLC increased its stake in American Tower by 1.2% in the second quarter. Community Financial Services Group LLC now owns 5,388 shares of the real estate investment trust’s stock valued at $895,000 after acquiring an additional 65 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insiders Place Their Bets

In other news, Director Rajesh Kalathur acquired 2,829 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were bought at an average price of $177.00 per share, with a total value of $500,733.00. Following the acquisition, the director directly owned 7,765 shares in the company, valued at $1,374,405. The trade was a 57.31% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Ruth Dowling sold 952 shares of the business’s stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $185.81, for a total value of $176,891.12. Following the sale, the executive vice president owned 26,133 shares in the company, valued at $4,855,772.73. This represents a 3.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is currently owned by corporate insiders.

American Tower Trading Down 0.7%

Shares of American Tower stock opened at $187.05 on Wednesday. The firm’s 50 day moving average is $176.27 and its 200 day moving average is $177.47. The firm has a market capitalization of $87.16 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 3.40 and a beta of 0.85. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $202.50. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 3.30.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, October 27th. The real estate investment trust reported $1.64 EPS for the quarter, meeting the consensus estimate of $1.64. American Tower had a net margin of 30.10% and a return on equity of 32.71%. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the prior year, the firm earned $2.78 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. Equities research analysts forecast that American Tower Corporation will post 10.80 earnings per share for the current fiscal year.

American Tower declared that its board has initiated a stock buyback plan on Tuesday, October 27th that permits the company to repurchase $2 billion in outstanding shares. This repurchase authorization permits the real estate investment trust to repurchase shares of its stock through open market purchases. Share repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 20th. Stockholders of record on Wednesday, September 30th were paid a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Wednesday, September 30th. American Tower’s dividend payout ratio is presently 100.99%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Mizuho set a $208.00 price objective on shares of American Tower in a research report on Thursday, August 20th. Truist Financial raised their target price on American Tower from $207.00 to $210.00 and gave the company a “buy” rating in a report on Friday, October 30th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $205.00 price target on shares of American Tower in a research note on Wednesday, October 28th. TD Cowen boosted their price target on American Tower from $225.00 to $227.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Finally, Barclays boosted their price target on American Tower from $198.00 to $199.00 and gave the stock an “overweight” rating in a report on Wednesday, September 30th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $216.44.

American Tower Profile

American Tower Corporation (NYSE:AMT) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its portfolio primarily includes communications towers, rooftop sites, distributed antenna systems and other infrastructure used by wireless carriers, broadcasters, governments and businesses to support voice, data and video communications.

The company leases space on its sites to multiple customers, allowing them to install antennas and related equipment without building and maintaining individual tower locations.