Waterloo Capital L.P. Purchases 520 Shares of American Tower Co. (NYSE:AMT)

Waterloo Capital L.P. grew its position in American Tower Co. (NYSE:AMT) by 8.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 6,401 shares of the real estate investment trust’s stock after acquiring an additional 520 shares during the period. Waterloo Capital L.P.’s holdings in American Tower were worth $1,244,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of AMT. Northwest Investment Counselors LLC acquired a new stake in American Tower in the first quarter valued at $25,000. Gold Investment Management Ltd. acquired a new stake in American Tower in the fourth quarter valued at $28,000. Cultivar Capital Inc. acquired a new stake in American Tower in the second quarter valued at $25,000. Hobbs Group Advisors LLC acquired a new stake in American Tower in the second quarter valued at $29,000. Finally, SOA Wealth Advisors LLC. acquired a new stake in American Tower in the first quarter valued at $30,000. 92.69% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the completion of the transaction, the chief executive officer now directly owns 61,843 shares in the company, valued at approximately $14,223,890. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the completion of the sale, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at approximately $12,070,789.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the sale, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at $14,223,890. The disclosure for this sale can be found here. Insiders sold 33,723 shares of company stock worth $7,795,397 in the last three months. Corporate insiders own 0.18% of the company’s stock.

American Tower Stock Down 1.5 %

American Tower stock opened at $235.95 on Thursday. The firm has a 50 day simple moving average of $223.58 and a 200 day simple moving average of $202.03. The firm has a market capitalization of $110.18 billion, a price-to-earnings ratio of 53.38, a P/E/G ratio of 1.60 and a beta of 0.83. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $243.56.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). The firm had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.46 earnings per share. On average, analysts predict that American Tower Co. will post 10.13 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be given a dividend of $1.62 per share. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.75%. American Tower’s dividend payout ratio (DPR) is currently 146.61%.

Analyst Ratings Changes

A number of research firms recently weighed in on AMT. Scotiabank increased their price objective on American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 31st. Barclays decreased their price target on American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Mizuho increased their price target on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. The Goldman Sachs Group initiated coverage on American Tower in a report on Monday, July 1st. They set a “buy” rating and a $230.00 price target for the company. Finally, Wells Fargo & Company increased their price target on American Tower from $225.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $233.29.

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