Collective Family Office LLC Buys New Stake in American Tower Co. (NYSE:AMT)

Collective Family Office LLC purchased a new stake in American Tower Co. (NYSE:AMT) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 1,040 shares of the real estate investment trust’s stock, valued at approximately $205,000.

Other hedge funds also recently added to or reduced their stakes in the company. Alera Investment Advisors LLC boosted its holdings in American Tower by 1.3% in the 4th quarter. Alera Investment Advisors LLC now owns 4,105 shares of the real estate investment trust’s stock worth $886,000 after acquiring an additional 51 shares during the period. Allstate Corp boosted its stake in shares of American Tower by 3.1% in the fourth quarter. Allstate Corp now owns 1,750 shares of the real estate investment trust’s stock valued at $378,000 after purchasing an additional 53 shares during the period. First Business Financial Services Inc. grew its holdings in American Tower by 1.3% during the 3rd quarter. First Business Financial Services Inc. now owns 4,290 shares of the real estate investment trust’s stock valued at $705,000 after purchasing an additional 55 shares in the last quarter. Augustine Asset Management Inc. increased its stake in American Tower by 0.8% during the 4th quarter. Augustine Asset Management Inc. now owns 7,092 shares of the real estate investment trust’s stock worth $1,531,000 after buying an additional 56 shares during the period. Finally, McIlrath & Eck LLC lifted its holdings in American Tower by 13.9% in the 4th quarter. McIlrath & Eck LLC now owns 459 shares of the real estate investment trust’s stock worth $99,000 after buying an additional 56 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMT has been the topic of several recent analyst reports. Raymond James upgraded American Tower from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $226.00 to $248.00 in a research note on Wednesday, May 1st. Barclays cut their target price on American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Morgan Stanley raised their price target on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. BMO Capital Markets cut their price target on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Finally, Scotiabank decreased their price objective on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, American Tower currently has an average rating of “Moderate Buy” and a consensus price target of $220.91.

American Tower Stock Performance

Shares of NYSE AMT opened at $194.16 on Friday. American Tower Co. has a 1 year low of $154.58 and a 1 year high of $219.10. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a fifty day moving average price of $185.77 and a two-hundred day moving average price of $195.73. The firm has a market cap of $90.67 billion, a P/E ratio of 43.93, a PEG ratio of 1.37 and a beta of 0.79.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). American Tower had a return on equity of 18.45% and a net margin of 18.42%. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same period in the previous year, the firm earned $2.54 earnings per share. American Tower’s revenue was up 2.4% on a year-over-year basis. Research analysts forecast that American Tower Co. will post 10.03 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Friday, June 14th. American Tower’s payout ratio is 146.61%.

Insiders Place Their Bets

In other news, EVP Sanjay Goel sold 3,504 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the completion of the sale, the executive vice president now owns 28,413 shares in the company, valued at approximately $5,692,828.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other American Tower news, EVP Sanjay Goel sold 3,504 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the sale, the executive vice president now owns 28,413 shares in the company, valued at approximately $5,692,828.68. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert D. Hormats sold 700 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $183.50, for a total transaction of $128,450.00. Following the completion of the transaction, the director now owns 7,332 shares of the company’s stock, valued at $1,345,422. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.