Clarus Wealth Advisors Has $702,000 Position in American Tower Corp (NYSE:AMT)

Clarus Wealth Advisors grew its holdings in shares of American Tower Corp (NYSE:AMT) by 27.8% in the third quarter, HoldingsChannel.com reports. The fund owned 3,173 shares of the real estate investment trust’s stock after acquiring an additional 690 shares during the quarter. Clarus Wealth Advisors’ holdings in American Tower were worth $702,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AMT. First Trust Advisors LP grew its holdings in American Tower by 64.2% during the 1st quarter. First Trust Advisors LP now owns 364,955 shares of the real estate investment trust’s stock worth $71,918,000 after acquiring an additional 142,704 shares during the period. Burney Co. grew its holdings in American Tower by 39.1% during the 1st quarter. Burney Co. now owns 3,558 shares of the real estate investment trust’s stock worth $701,000 after acquiring an additional 1,001 shares during the period. Advisory Alpha LLC acquired a new stake in American Tower during the 1st quarter worth about $44,000. Andra AP fonden acquired a new stake in American Tower during the 1st quarter worth about $5,675,000. Finally, Riverhead Capital Management LLC grew its holdings in American Tower by 32.1% during the 1st quarter. Riverhead Capital Management LLC now owns 23,115 shares of the real estate investment trust’s stock worth $4,555,000 after acquiring an additional 5,620 shares during the period. Hedge funds and other institutional investors own 92.50% of the company’s stock.

In related news, CEO James D. Taiclet, Jr. sold 57,438 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $211.89, for a total value of $12,170,537.82. Following the transaction, the chief executive officer now owns 255,414 shares of the company’s stock, valued at approximately $54,119,672.46. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David E. Sharbutt sold 2,039 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $217.59, for a total transaction of $443,666.01. Following the completion of the transaction, the director now directly owns 3,936 shares in the company, valued at approximately $856,434.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,332 shares of company stock valued at $36,957,715. 0.75% of the stock is currently owned by company insiders.

A number of analysts have weighed in on AMT shares. Citigroup increased their price target on American Tower from $236.00 to $240.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. KeyCorp increased their price target on American Tower from $225.00 to $253.00 and gave the stock an “overweight” rating in a report on Monday, August 19th. Morgan Stanley increased their price target on American Tower from $201.00 to $216.00 and gave the stock an “equal weight” rating in a report on Thursday, September 19th. JPMorgan Chase & Co. increased their price target on American Tower from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, ValuEngine downgraded American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. American Tower has an average rating of “Hold” and a consensus target price of $206.87.

Shares of AMT traded down $1.84 during trading hours on Friday, hitting $224.44. The stock had a trading volume of 1,007,757 shares, compared to its average volume of 1,787,064. The company has a debt-to-equity ratio of 4.13, a current ratio of 0.49 and a quick ratio of 0.49. The firm has a 50 day simple moving average of $225.42 and a 200-day simple moving average of $209.95. The firm has a market capitalization of $100.09 billion, a P/E ratio of 28.09, a price-to-earnings-growth ratio of 1.83 and a beta of 0.44. American Tower Corp has a 1-year low of $140.40 and a 1-year high of $242.00.

American Tower (NYSE:AMT) last issued its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.96 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.87 by ($0.91). The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.83 billion. American Tower had a net margin of 19.30% and a return on equity of 24.75%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.74 earnings per share. Equities analysts predict that American Tower Corp will post 7.67 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Friday, September 27th will be paid a $0.95 dividend. The ex-dividend date is Thursday, September 26th. This is an increase from American Tower’s previous quarterly dividend of $0.92. This represents a $3.80 annualized dividend and a dividend yield of 1.69%. American Tower’s dividend payout ratio (DPR) is currently 47.56%.

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

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