Fidelis Capital Partners LLC Lowers Stake in American Tower Co. (NYSE:AMT)

Fidelis Capital Partners LLC lessened its holdings in American Tower Co. (NYSE:AMT) by 5.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,499 shares of the real estate investment trust’s stock after selling 192 shares during the period. Fidelis Capital Partners LLC’s holdings in American Tower were worth $680,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of AMT. Vanguard Group Inc. increased its position in shares of American Tower by 1.6% in the first quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust’s stock valued at $12,248,812,000 after buying an additional 965,938 shares in the last quarter. Cohen & Steers Inc. grew 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 increased its holdings in American Tower by 21.9% in the 4th quarter. Wellington Management Group LLP now owns 15,823,622 shares of the real estate investment trust’s stock worth $3,416,004,000 after acquiring an additional 2,839,570 shares in the last quarter. Principal Financial Group Inc. raised its position in American Tower by 36.2% during the first quarter. Principal Financial Group Inc. now owns 8,794,776 shares of the real estate investment trust’s stock worth $1,737,760,000 after acquiring an additional 2,336,501 shares during the period. Finally, Edgewood Management LLC lifted its holdings in American Tower by 46.2% during the fourth quarter. Edgewood Management LLC now owns 4,985,879 shares of the real estate investment trust’s stock valued at $1,076,352,000 after purchasing an additional 1,576,683 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. TD Cowen boosted their target price on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Royal Bank of Canada boosted their price objective on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. StockNews.com upgraded American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Mizuho raised their price objective on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Finally, BMO Capital Markets upped their target price on shares of American Tower from $246.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and an average target price of $233.29.

American Tower Stock Up 1.2 %

Shares of NYSE AMT opened at $235.06 on Monday. American Tower Co. has a 1 year low of $154.58 and a 1 year high of $243.56. The company has a market capitalization of $109.77 billion, a P/E ratio of 53.18, a P/E/G ratio of 1.60 and a beta of 0.83. The company has a 50 day simple moving average of $224.57 and a 200-day simple moving average of $202.39. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81.

American Tower (NYSE:AMT) last posted its 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 business had revenue of $2.90 billion during 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%. American Tower’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.46 EPS. On average, equities research analysts predict that American Tower Co. will post 10.13 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently announced 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. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a yield of 2.76%. American Tower’s payout ratio is currently 146.61%.

Insiders Place Their Bets

In other news, CEO Steven O. Vondran sold 21,537 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total value of $4,953,510.00. Following the transaction, the chief executive officer now directly owns 61,843 shares in the company, valued at approximately $14,223,890. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value of $4,953,510.00. Following the sale, the chief executive officer now owns 61,843 shares of the company’s stock, valued at $14,223,890. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $232.93, for a total value of $508,020.33. Following the transaction, the chief accounting officer now owns 31,873 shares in the company, valued at $7,424,177.89. The disclosure for this sale can be found here. Insiders sold a total of 33,723 shares of company stock valued at $7,795,397 over the last 90 days. 0.18% of the stock is owned by company insiders.

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.