Semmax Financial Advisors Inc. Has $3.13 Million Stock Position in American Tower Co. (NYSE:AMT)

Semmax Financial Advisors Inc. raised its holdings in American Tower Co. (NYSE:AMT) by 6,842.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,106 shares of the real estate investment trust’s stock after purchasing an additional 15,874 shares during the quarter. Semmax Financial Advisors Inc.’s holdings in American Tower were worth $3,131,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of AMT. Accretive Wealth Partners LLC grew its holdings in shares of American Tower by 9.4% during the 4th quarter. Accretive Wealth Partners LLC now owns 4,435 shares of the real estate investment trust’s stock valued at $958,000 after purchasing an additional 380 shares during the last quarter. Aveo Capital Partners LLC acquired a new position in shares of American Tower during the fourth quarter worth $344,000. Gryphon Financial Partners LLC lifted its stake in shares of American Tower by 17.4% in the 4th quarter. Gryphon Financial Partners LLC now owns 10,950 shares of the real estate investment trust’s stock valued at $2,472,000 after acquiring an additional 1,620 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of American Tower during the 4th quarter valued at $214,000. Finally, Cambridge Investment Research Advisors Inc. grew its position in American Tower by 7.6% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 46,216 shares of the real estate investment trust’s stock worth $9,977,000 after acquiring an additional 3,250 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of AMT stock opened at $236.24 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $243.56. The firm has a 50 day moving average of $225.12 and a 200-day moving average of $202.62. The company has a market cap of $110.32 billion, a price-to-earnings ratio of 53.45, a price-to-earnings-growth ratio of 1.60 and a beta of 0.83.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.52). The company had revenue of $2.90 billion for 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 for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.46 EPS. On average, equities analysts forecast that American Tower Co. will post 10.13 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders 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 dividend on an annualized basis and a yield of 2.74%. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

Insider Transactions at American Tower

In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $14,223,890. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Olivier Puech sold 10,005 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was 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 owns 51,746 shares in the company, valued at $12,070,789.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction 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 completion of 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 have sold 33,723 shares of company stock valued at $7,795,397 over the last ninety days. 0.18% of the stock is owned by company insiders.

Analysts Set New Price Targets

AMT has been the topic of several research reports. BMO Capital Markets boosted their price target on American Tower from $246.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. Royal Bank of Canada raised their price target on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Scotiabank raised their target price on American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, July 31st. Finally, Mizuho upped their price target on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $234.00.

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.