Acadian Asset Management LLC lifted its holdings in American Tower Corp (NYSE:AMT) by 428.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,348 shares of the real estate investment trust’s stock after purchasing an additional 5,147 shares during the quarter. Acadian Asset Management LLC’s holdings in American Tower were worth $1,251,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc lifted its holdings in shares of American Tower by 6.7% in the third quarter. Vanguard Group Inc now owns 56,635,438 shares of the real estate investment trust’s stock valued at $8,229,130,000 after buying an additional 3,579,249 shares during the period. Quantamental Technologies LLC purchased a new stake in shares of American Tower during the fourth quarter valued at $25,000. Gamco Investors INC. ET AL lifted its holdings in shares of American Tower by 149.6% during the fourth quarter. Gamco Investors INC. ET AL now owns 18,398 shares of the real estate investment trust’s stock valued at $2,910,000 after purchasing an additional 11,026 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of American Tower by 6.0% during the fourth quarter. Advisors Asset Management Inc. now owns 168,670 shares of the real estate investment trust’s stock valued at $26,682,000 after purchasing an additional 9,596 shares during the last quarter. Finally, Sigma Planning Corp lifted its holdings in shares of American Tower by 10.0% during the fourth quarter. Sigma Planning Corp now owns 2,845 shares of the real estate investment trust’s stock valued at $450,000 after purchasing an additional 258 shares during the last quarter. Institutional investors and hedge funds own 94.29% of the company’s stock.
AMT stock traded down $1.40 during mid-day trading on Friday, hitting $204.45. The stock had a trading volume of 2,965,462 shares, compared to its average volume of 1,920,881. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 4.31. American Tower Corp has a 1-year low of $138.51 and a 1-year high of $218.79. The business’s fifty day moving average price is $206.82. The stock has a market cap of $90.99 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 1.68 and a beta of 0.54.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Wednesday, June 19th will be given a $0.92 dividend. This is a positive change from American Tower’s previous quarterly dividend of $0.90. This represents a $3.68 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Tuesday, June 18th. American Tower’s dividend payout ratio is presently 46.06%.
AMT has been the subject of several analyst reports. Citigroup upped their target price on American Tower from $176.00 to $186.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Royal Bank of Canada upped their target price on American Tower from $173.00 to $195.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Morgan Stanley upped their target price on American Tower from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Monday, March 11th. Edward Jones downgraded American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, March 13th. Finally, Bank of America increased their price objective on American Tower from $172.00 to $208.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Thirteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $183.82.
In other news, CEO James D. Taiclet, Jr. sold 57,439 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $207.93, for a total transaction of $11,943,291.27. Following the transaction, the chief executive officer now owns 255,415 shares of the company’s stock, valued at approximately $53,108,440.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James D. Taiclet, Jr. sold 8,580 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $190.73, for a total value of $1,636,463.40. Following the transaction, the chief executive officer now directly owns 197,976 shares in the company, valued at approximately $37,759,962.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 259,065 shares of company stock worth $51,423,854. Insiders own 0.75% of the company’s stock.
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 approximately 171,000 communications sites.
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