E Fund Management Co. Ltd. Grows Position in American Tower Co. (NYSE:AMT)

E Fund Management Co. Ltd. raised its holdings in shares of American Tower Co. (NYSE:AMT) by 140.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,487 shares of the real estate investment trust’s stock after purchasing an additional 2,038 shares during the quarter. E Fund Management Co. Ltd.’s holdings in American Tower were worth $678,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Meyer Handelman Co. purchased a new stake in shares of American Tower in the first quarter worth about $801,000. TD Asset Management Inc lifted its holdings in shares of American Tower by 23.2% in the fourth quarter. TD Asset Management Inc now owns 275,428 shares of the real estate investment trust’s stock worth $59,459,000 after buying an additional 51,882 shares in the last quarter. Kingsview Wealth Management LLC lifted its holdings in shares of American Tower by 13.8% in the first quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock worth $7,613,000 after buying an additional 4,660 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of American Tower by 27.7% in 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 lifted its holdings in shares of American Tower by 29.0% in 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 in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Down 1.5 %

Shares of NYSE AMT opened at $235.95 on Thursday. American Tower Co. has a one year low of $154.58 and a one year 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 firm’s 50 day simple moving average is $223.58 and its two-hundred day simple moving average is $202.03. The stock has a market capitalization of $110.18 billion, a P/E ratio of 53.38, a PEG ratio of 1.60 and a beta of 0.83.

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

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Wednesday, October 9th. American Tower’s dividend payout ratio is 146.61%.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price target on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Barclays lowered their target price on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. TD Cowen raised their target price on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Two investment 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $233.29.

Insider Transactions at American Tower

In other news, CEO Steven O. Vondran sold 21,537 shares of the firm’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 owns 61,843 shares in the company, valued at $14,223,890. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total value of $2,333,866.35. Following the completion of the sale, the executive vice president now owns 51,746 shares of the company’s stock, valued at $12,070,789.42. The sale 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 the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,723 shares of company stock worth $7,795,397. Insiders own 0.18% of the company’s stock.

American Tower Company 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.