American Tower Co. (NYSE:AMT) Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC boosted its holdings in American Tower Co. (NYSE:AMT) by 0.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118,220 shares of the real estate investment trust’s stock after acquiring an additional 221 shares during the quarter. ProShare Advisors LLC’s holdings in American Tower were worth $22,980,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AMT. NBT Bank N A NY raised its stake in shares of American Tower by 3.3% during the second quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock valued at $329,000 after purchasing an additional 54 shares in the last quarter. O Brien Greene & Co. Inc lifted its stake in shares of American Tower by 2.3% in the 2nd quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock worth $481,000 after acquiring an additional 55 shares during the period. CFO4Life Group LLC lifted its stake in shares of American Tower by 5.4% in the 1st quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock worth $221,000 after acquiring an additional 57 shares during the period. Tyche Wealth Partners LLC increased its stake in shares of American Tower by 4.9% during the second quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock valued at $242,000 after acquiring an additional 58 shares during the period. Finally, Advisors Management Group Inc. ADV raised its holdings in American Tower by 4.6% during the first quarter. Advisors Management Group Inc. ADV now owns 1,347 shares of the real estate investment trust’s stock worth $266,000 after purchasing an additional 59 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In other news, CEO Steven O. Vondran sold 21,537 shares of the company’s stock in a transaction dated 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 owns 61,843 shares of the company’s stock, valued at $14,223,890. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other 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 transaction of $4,953,510.00. Following the sale, the chief executive officer now directly owns 61,843 shares in the company, valued at $14,223,890. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Olivier Puech sold 10,005 shares of the business’s 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 in the company, valued at approximately $12,070,789.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,723 shares of company stock valued at $7,795,397. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AMT shares. TD Cowen increased their price target on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company lifted their target price on American Tower from $225.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Scotiabank upped their price target on shares of American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 31st. Barclays reduced their price objective on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and an average target price of $234.00.

American Tower Price Performance

Shares of NYSE:AMT opened at $236.24 on Tuesday. The stock has a market capitalization of $110.32 billion, a P/E ratio of 53.45, a P/E/G ratio of 1.60 and a beta of 0.83. The business has a 50-day moving average of $225.12 and a two-hundred day moving average of $202.62. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week 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.

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

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 2.74%. American Tower’s payout ratio is 146.61%.

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.