Foster & Motley Inc. Acquires 1,478 Shares of American Tower Corp (AMT)

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Foster & Motley Inc. grew its holdings in shares of American Tower Corp (NYSE:AMT) by 4.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,652 shares of the real estate investment trust’s stock after purchasing an additional 1,478 shares during the quarter. Foster & Motley Inc.’s holdings in American Tower were worth $4,890,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in AMT. Mount Yale Investment Advisors LLC boosted its stake in American Tower by 354.4% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 718 shares of the real estate investment trust’s stock worth $104,000 after purchasing an additional 560 shares during the last quarter. Kaizen Advisory LLC boosted its stake in American Tower by 140.6% during the 2nd quarter. Kaizen Advisory LLC now owns 1,008 shares of the real estate investment trust’s stock worth $145,000 after purchasing an additional 589 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in American Tower by 75.0% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,029 shares of the real estate investment trust’s stock worth $153,000 after purchasing an additional 441 shares during the last quarter. RMR Advisors LLC acquired a new stake in American Tower during the 2nd quarter worth $173,000. Finally, Sun Life Financial INC boosted its stake in American Tower by 311.3% during the 2nd quarter. Sun Life Financial INC now owns 1,197 shares of the real estate investment trust’s stock worth $173,000 after purchasing an additional 906 shares during the last quarter. 93.35% of the stock is currently owned by institutional investors.

Several equities research analysts have issued reports on AMT shares. Barclays lifted their target price on shares of American Tower from $156.00 to $164.00 and gave the stock an “overweight” rating in a research note on Wednesday. Morgan Stanley lifted their target price on shares of American Tower from $154.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, August 16th. Citigroup cut shares of American Tower from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $161.00 to $176.00 in a research note on Wednesday. Bank of America set a $172.00 target price on shares of American Tower and gave the stock a “buy” rating in a research note on Wednesday. Finally, Guggenheim cut shares of American Tower from a “buy” rating to a “neutral” rating and set a $135.00 target price on the stock. in a research note on Monday, July 16th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. American Tower currently has an average rating of “Buy” and an average price target of $163.75.

In related news, Director David E. Sharbutt sold 1,321 shares of the business’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $150.48, for a total value of $198,784.08. Following the sale, the director now directly owns 4,781 shares in the company, valued at approximately $719,444.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Pamela D. A. Reeve sold 7,152 shares of the business’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $148.92, for a total transaction of $1,065,075.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 80,281 shares of company stock worth $12,014,625. Corporate insiders own 0.87% of the company’s stock.

Shares of AMT stock opened at $155.81 on Thursday. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.66 and a current ratio of 0.72. The stock has a market cap of $70.95 billion, a PE ratio of 24.42, a PEG ratio of 1.67 and a beta of 0.80. American Tower Corp has a twelve month low of $130.37 and a twelve month high of $161.71.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.02. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.76 billion. American Tower had a net margin of 17.07% and a return on equity of 18.55%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.73 EPS. As a group, analysts forecast that American Tower Corp will post 7.11 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 17th. Stockholders of record on Friday, September 28th were given a dividend of $0.79 per share. This is a boost from American Tower’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $3.16 annualized dividend and a dividend yield of 2.03%. American Tower’s payout ratio is presently 49.53%.

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 170,000 communications sites.

Read More: Fundamental Analysis and Individual Investors

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

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