Bradley Foster & Sargent Inc. CT Boosts Holdings in American Tower Co. (NYSE:AMT)

Bradley Foster & Sargent Inc. CT grew its position in shares of American Tower Co. (NYSE:AMT) by 3.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,853 shares of the real estate investment trust’s stock after buying an additional 251 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in American Tower were worth $1,332,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Meyer Handelman Co. acquired a new position in American Tower during the first quarter worth $801,000. TD Asset Management Inc grew its stake in shares of American Tower by 23.2% during the 4th quarter. TD Asset Management Inc now owns 275,428 shares of the real estate investment trust’s stock worth $59,459,000 after purchasing an additional 51,882 shares during the period. Kingsview Wealth Management LLC increased its holdings in shares of American Tower by 13.8% in the 1st quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock valued at $7,613,000 after purchasing an additional 4,660 shares in the last quarter. Tidal Investments LLC boosted its holdings in American Tower by 27.7% during the first quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock worth $4,029,000 after buying an additional 4,430 shares in the last quarter. Finally, Cetera Advisors LLC grew its position in American Tower by 29.0% during the first quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock worth $8,157,000 after buying an additional 9,275 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Down 1.5 %

AMT opened at $232.31 on Friday. The stock has a market capitalization of $108.48 billion, a price-to-earnings ratio of 52.56, a price-to-earnings-growth ratio of 1.60 and a beta of 0.83. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $243.56. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. The business has a 50-day moving average of $224.08 and a two-hundred day moving average of $202.24.

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

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

Insiders Place Their Bets

In related news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $232.93, for a total transaction of $508,020.33. Following the sale, the chief accounting officer now directly owns 31,873 shares in the company, valued at approximately $7,424,177.89. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 61,843 shares in the company, valued at $14,223,890. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $232.93, for a total value of $508,020.33. Following the completion of the transaction, the chief accounting officer now owns 31,873 shares in the company, valued at approximately $7,424,177.89. The disclosure for this sale can be found here. Insiders have sold a total of 33,723 shares of company stock worth $7,795,397 over the last quarter. 0.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on AMT. Royal Bank of Canada boosted their target price on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Scotiabank increased their price objective on shares of American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 31st. StockNews.com upgraded shares of American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets raised their price objective on shares of American Tower from $246.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, September 13th. Finally, Mizuho upped their target price on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and an average 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.