Brookstone Capital Management Purchases 96 Shares of American Tower Co. (NYSE:AMT)

Brookstone Capital Management grew its position in American Tower Co. (NYSE:AMT) by 1.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,108 shares of the real estate investment trust’s stock after acquiring an additional 96 shares during the period. Brookstone Capital Management’s holdings in American Tower were worth $1,207,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in American Tower by 0.3% during the third quarter. Vanguard Group Inc. now owns 60,930,583 shares of the real estate investment trust’s stock worth $10,020,034,000 after buying an additional 196,942 shares during the last quarter. Cohen & Steers Inc. raised its stake in American Tower by 3.7% in the 4th quarter. Cohen & Steers Inc. now owns 16,440,715 shares of the real estate investment trust’s stock valued at $3,549,366,000 after acquiring an additional 583,892 shares during the period. Wellington Management Group LLP lifted its holdings in American Tower by 21.9% during the 4th quarter. Wellington Management Group LLP now owns 15,823,622 shares of the real estate investment trust’s stock valued at $3,416,004,000 after purchasing an additional 2,839,570 shares during the last quarter. Morgan Stanley boosted its position in American Tower by 3.7% during the third quarter. Morgan Stanley now owns 7,269,957 shares of the real estate investment trust’s stock worth $1,195,545,000 after purchasing an additional 258,030 shares during the period. Finally, Akre Capital Management LLC increased its holdings in shares of American Tower by 0.5% in the fourth quarter. Akre Capital Management LLC now owns 6,804,599 shares of the real estate investment trust’s stock valued at $1,468,977,000 after purchasing an additional 36,375 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AMT. Morgan Stanley raised their target price on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Scotiabank reduced their price objective on American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a report on Wednesday, May 1st. Barclays lowered their target price on American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Finally, Raymond James upgraded American Tower from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $226.00 to $248.00 in a research report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $220.91.

Insider Buying and Selling at American Tower

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

American Tower Price Performance

AMT stock opened at $194.38 on Friday. The company’s 50-day moving average price is $188.22 and its two-hundred day moving average price is $195.14. The firm has a market cap of $90.77 billion, a P/E ratio of 43.98, a P/E/G ratio of 1.39 and a beta of 0.79. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.39. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10.

American Tower (NYSE:AMT) last announced its quarterly earnings data 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). The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The business’s revenue was up 2.4% compared to the same quarter last year. During the same period last year, the business earned $2.54 earnings per share. On average, analysts anticipate that American Tower Co. will post 10.03 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Friday, June 14th. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

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