Advisor OS LLC Invests $559,000 in American Tower Corp (NYSE:AMT)

Advisor OS LLC acquired a new position in shares of American Tower Corp (NYSE:AMT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,164 shares of the real estate investment trust’s stock, valued at approximately $559,000.

Several other large investors have also recently made changes to their positions in the company. Truvestments Capital LLC bought a new position in shares of American Tower during the 1st quarter worth approximately $75,000. Page Arthur B grew its position in shares of American Tower by 6.2% in the first quarter. Page Arthur B now owns 1,335 shares of the real estate investment trust’s stock valued at $291,000 after purchasing an additional 78 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of American Tower by 8.2% in the first quarter. Oppenheimer Asset Management Inc. now owns 71,877 shares of the real estate investment trust’s stock valued at $15,653,000 after purchasing an additional 5,418 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in shares of American Tower by 2.3% in the first quarter. Oppenheimer & Co. Inc. now owns 59,796 shares of the real estate investment trust’s stock valued at $13,021,000 after purchasing an additional 1,342 shares during the last quarter. Finally, Cetera Investment Advisers grew its position in shares of American Tower by 52.0% in the first quarter. Cetera Investment Advisers now owns 5,376 shares of the real estate investment trust’s stock valued at $1,171,000 after purchasing an additional 1,838 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors.

In related news, EVP Olivier Puech sold 415 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $266.70, for a total value of $110,680.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven O. Vondran sold 1,388 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $259.50, for a total transaction of $360,186.00. Following the completion of the transaction, the executive vice president now directly owns 24,386 shares of the company’s stock, valued at $6,328,167. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,715 shares of company stock valued at $2,269,703. Insiders own 0.65% of the company’s stock.

Several research firms have recently commented on AMT. Oppenheimer began coverage on American Tower in a research report on Tuesday, August 11th. They issued a “buy” rating and a $290.00 target price on the stock. Barclays initiated coverage on American Tower in a research note on Wednesday, July 15th. They set an “overweight” rating and a $296.00 price target for the company. Credit Suisse Group reiterated a “buy” rating and set a $300.00 price target on shares of American Tower in a research note on Friday, July 31st. Zacks Investment Research raised shares of American Tower from a “sell” rating to a “hold” rating and set a $273.00 target price on the stock in a research report on Monday, June 29th. Finally, Wells Fargo & Company lifted their target price on shares of American Tower from $272.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $273.08.

American Tower stock traded up $9.93 during mid-day trading on Tuesday, hitting $263.83. The company’s stock had a trading volume of 115,829 shares, compared to its average volume of 2,054,992. The stock has a market cap of $112.62 billion, a price-to-earnings ratio of 61.36, a price-to-earnings-growth ratio of 2.17 and a beta of 0.38. The business has a 50 day moving average price of $252.79 and a 200-day moving average price of $246.63. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.68 and a quick ratio of 0.68. American Tower Corp has a 12 month low of $174.32 and a 12 month high of $272.20.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $1.00 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.99). The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.95 billion. American Tower had a net margin of 24.70% and a return on equity of 39.62%. The business’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the company posted $2.01 earnings per share. On average, equities research analysts expect that American Tower Corp will post 8 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Monday, September 28th will be paid a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 1.73%. This is an increase from American Tower’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Friday, September 25th. American Tower’s dividend payout ratio is 56.92%.

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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