Skandinaviska Enskilda Banken AB publ increased its position in shares of American Tower Corporation (REIT) (NYSE:AMT) by 3.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 69,211 shares of the real estate investment trust’s stock after buying an additional 1,984 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in American Tower Corporation (REIT) were worth $8,412,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Webster Bank N. A. raised its stake in American Tower Corporation (REIT) by 86.1% in the first quarter. Webster Bank N. A. now owns 1,005 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 465 shares in the last quarter. Heritage Trust Co purchased a new stake in American Tower Corporation (REIT) during the first quarter worth $122,000. Norway Savings Bank raised its stake in American Tower Corporation (REIT) by 85.2% in the first quarter. Norway Savings Bank now owns 1,435 shares of the real estate investment trust’s stock worth $174,000 after buying an additional 660 shares in the last quarter. Integrated Investment Consultants LLC raised its stake in American Tower Corporation (REIT) by 0.9% in the first quarter. Integrated Investment Consultants LLC now owns 1,485 shares of the real estate investment trust’s stock worth $180,000 after buying an additional 13 shares in the last quarter. Finally, Spinnaker Trust purchased a new stake in American Tower Corporation (REIT) during the first quarter worth $201,000. 93.21% of the stock is currently owned by hedge funds and other institutional investors.
Shares of American Tower Corporation (NYSE:AMT) opened at 135.42 on Thursday. The stock has a market capitalization of $57.55 billion, a price-to-earnings ratio of 65.39 and a beta of 0.71. American Tower Corporation has a one year low of $99.72 and a one year high of $138.00. The firm has a 50-day moving average of $132.31 and a 200 day moving average of $120.38.
American Tower Corporation (REIT) (NYSE:AMT) last announced its quarterly earnings results on Thursday, April 27th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing the consensus estimate of $1.51 by $0.84. American Tower Corporation (REIT) had a return on equity of 14.26% and a net margin of 16.32%. The business had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the previous year, the company posted $0.58 EPS. American Tower Corporation (REIT)’s revenue for the quarter was up 25.4% on a year-over-year basis. On average, equities research analysts predict that American Tower Corporation will post $2.98 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, June 19th were given a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Thursday, June 15th. This is a boost from American Tower Corporation (REIT)’s previous quarterly dividend of $0.62. American Tower Corporation (REIT)’s dividend payout ratio is presently 124.27%.
A number of research firms have recently weighed in on AMT. Cowen and Company reiterated a “buy” rating and set a $155.00 target price on shares of American Tower Corporation (REIT) in a report on Wednesday. BidaskClub upgraded shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a report on Wednesday. Citigroup Inc. lowered shares of American Tower Corporation (REIT) to an “outperform” rating and set a $147.00 target price for the company. in a report on Monday, June 12th. Zacks Investment Research lowered shares of American Tower Corporation (REIT) from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 27th. Finally, Raymond James Financial, Inc. reiterated an “outperform” rating on shares of American Tower Corporation (REIT) in a report on Monday, June 12th. One equities research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $140.17.
In other news, EVP Amit Sharma sold 61,096 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $126.57, for a total value of $7,732,920.72. Following the completion of the sale, the executive vice president now owns 177,556 shares of the company’s stock, valued at approximately $22,473,262.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David E. Sharbutt sold 3,653 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $128.61, for a total transaction of $469,812.33. Following the completion of the sale, the director now directly owns 10,098 shares of the company’s stock, valued at approximately $1,298,703.78. The disclosure for this sale can be found here. Insiders sold a total of 133,350 shares of company stock valued at $17,042,690 in the last ninety days. Corporate insiders own 0.86% of the company’s stock.
About American Tower Corporation (REIT)
American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.
Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corporation (REIT) (NYSE:AMT).
Receive News & Ratings for American Tower Corporation (REIT) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower Corporation (REIT) and related companies with MarketBeat.com's FREE daily email newsletter.
