Evergreen Capital Management LLC Purchases 52,147 Shares of American Tower Co. (NYSE:AMT)

Evergreen Capital Management LLC lifted its position in shares of American Tower Co. (NYSE:AMT) by 1,484.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,661 shares of the real estate investment trust’s stock after acquiring an additional 52,147 shares during the period. Evergreen Capital Management LLC’s holdings in American Tower were worth $10,909,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Accretive Wealth Partners LLC boosted its stake in American Tower by 9.4% in the fourth quarter. Accretive Wealth Partners LLC now owns 4,435 shares of the real estate investment trust’s stock valued at $958,000 after buying an additional 380 shares in the last quarter. Aveo Capital Partners LLC bought a new stake in shares of American Tower during the fourth quarter worth about $344,000. Gryphon Financial Partners LLC increased its stake in shares of American Tower by 17.4% in the fourth quarter. Gryphon Financial Partners LLC now owns 10,950 shares of the real estate investment trust’s stock valued at $2,472,000 after buying an additional 1,620 shares during the period. Quest Partners LLC bought a new position in American Tower in the 4th quarter valued at approximately $214,000. Finally, Assetmark Inc. grew its holdings in American Tower by 28.8% during the 4th quarter. Assetmark Inc. now owns 9,814 shares of the real estate investment trust’s stock worth $2,119,000 after acquiring an additional 2,196 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

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 firm has a market cap of $109.77 billion, a price-to-earnings ratio of 53.18, a PEG ratio of 1.60 and a beta of 0.83. The company has a fifty day moving average price of $224.57 and a 200-day moving average price 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 issued its quarterly 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 for 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%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.46 earnings per share. As a group, equities research analysts predict that American Tower Co. will post 10.13 EPS for the current fiscal year.

American Tower Announces Dividend

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 paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower’s payout ratio is 146.61%.

Insider Activity

In related news, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 51,746 shares in the company, valued at approximately $12,070,789.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Steven O. Vondran sold 21,537 shares of the company’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 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 document filed with the SEC, which is available at this link. Also, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 51,746 shares of the company’s stock, valued at $12,070,789.42. The disclosure for this sale can be found here. Insiders sold 33,723 shares of company stock valued at $7,795,397 in the last three months. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Royal Bank of Canada lifted 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. BMO Capital Markets lifted their price objective on American Tower from $246.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, September 13th. Deutsche Bank Aktiengesellschaft increased their target price on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Mizuho boosted their target price on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Finally, TD Cowen increased their price target on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. 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. According to data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $233.29.

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.