American Tower Corp (AMT) Holdings Raised by Royal London Asset Management Ltd.

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Royal London Asset Management Ltd. raised its stake in shares of American Tower Corp (NYSE:AMT) by 3.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 195,469 shares of the real estate investment trust’s stock after acquiring an additional 7,166 shares during the period. Royal London Asset Management Ltd.’s holdings in American Tower were worth $28,403,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Mount Yale Investment Advisors LLC grew its holdings in shares of American Tower by 354.4% in the second quarter. Mount Yale Investment Advisors LLC now owns 718 shares of the real estate investment trust’s stock valued at $104,000 after purchasing an additional 560 shares in the last quarter. Kaizen Advisory LLC grew its holdings in shares of American Tower by 140.6% in the second quarter. Kaizen Advisory LLC now owns 1,008 shares of the real estate investment trust’s stock valued at $145,000 after purchasing an additional 589 shares in the last quarter. Valeo Financial Advisors LLC grew its holdings in shares of American Tower by 75.0% in the second quarter. Valeo Financial Advisors LLC now owns 1,029 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 441 shares in the last quarter. Sun Life Financial INC grew its holdings in shares of American Tower by 311.3% in the second quarter. Sun Life Financial INC now owns 1,197 shares of the real estate investment trust’s stock valued at $173,000 after purchasing an additional 906 shares in the last quarter. Finally, RMR Advisors LLC acquired a new position in shares of American Tower in the second quarter valued at approximately $173,000. Institutional investors and hedge funds own 93.41% of the company’s stock.

AMT has been the subject of a number of research reports. Barclays lifted their price objective on shares of American Tower from $156.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, October 31st. Morgan Stanley lifted their price objective on shares of American Tower from $154.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, August 16th. Citigroup cut shares of American Tower from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $161.00 to $176.00 in a report on Wednesday, October 31st. Bank of America set a $172.00 price objective on shares of American Tower and gave the company a “buy” rating in a report on Wednesday, October 31st. Finally, Oppenheimer lifted their price objective on shares of American Tower from $167.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, August 1st. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. American Tower currently has a consensus rating of “Buy” and a consensus target price of $165.40.

NYSE AMT opened at $163.98 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 3.11. American Tower Corp has a 52 week low of $130.37 and a 52 week high of $164.24. The company has a market cap of $71.98 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 1.58 and a beta of 0.59.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $0.83 EPS for the quarter, topping the consensus estimate of $0.81 by $0.02. American Tower had a net margin of 17.07% and a return on equity of 18.55%. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the previous year, the business posted $1.73 EPS. The firm’s revenue was up 6.2% on a year-over-year basis. As a group, research analysts expect that American Tower Corp will post 7.58 EPS for the current fiscal year.

In other American Tower news, EVP Edmund Disanto sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $146.78, for a total transaction of $1,908,140.00. Following the completion of the transaction, the executive vice president now owns 160,021 shares in the company, valued at approximately $23,487,882.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David E. Sharbutt sold 813 shares of the business’s stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $160.88, for a total transaction of $130,795.44. Following the transaction, the director now owns 3,968 shares of the company’s stock, valued at approximately $638,371.84. The disclosure for this sale can be found here. Insiders have sold a total of 236,528 shares of company stock valued at $36,954,956 in the last quarter. 0.87% of the stock is currently owned by company insiders.

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About American Tower

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.

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

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