American Tower Co. (REIT) (NYSE:AMT) Shares Purchased by Sigma Planning Corp

Sigma Planning Corp increased its holdings in shares of American Tower Co. (REIT) (NYSE:AMT) by 5.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,171 shares of the real estate investment trust’s stock after acquiring an additional 500 shares during the period. Sigma Planning Corp’s holdings in American Tower were worth $2,478,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of AMT. Ameriprise Financial Inc. grew its position in shares of American Tower by 66.2% during the 1st quarter. Ameriprise Financial Inc. now owns 3,367,589 shares of the real estate investment trust’s stock valued at $805,040,000 after acquiring an additional 1,340,982 shares during the period. Vanguard Group Inc. lifted its stake in American Tower by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 57,918,458 shares of the real estate investment trust’s stock valued at $15,646,092,000 after buying an additional 1,177,194 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in American Tower by 35.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,296,037 shares of the real estate investment trust’s stock valued at $1,027,011,000 after buying an additional 1,135,240 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in American Tower by 24.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,758,953 shares of the real estate investment trust’s stock valued at $1,015,444,000 after buying an additional 732,847 shares in the last quarter. Finally, NFJ Investment Group LLC purchased a new position in American Tower in the 1st quarter valued at about $139,143,000. Hedge funds and other institutional investors own 89.57% of the company’s stock.

In related news, Director David E. Sharbutt sold 739 shares of the business’s stock in a transaction on Friday, September 3rd. The shares were sold at an average price of $300.71, for a total transaction of $222,224.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert D. Hormats sold 100 shares of the business’s stock in a transaction on Tuesday, July 20th. The stock was sold at an average price of $283.11, for a total transaction of $28,311.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 939 shares of company stock valued at $279,485. Insiders own 0.68% of the company’s stock.

A number of brokerages recently weighed in on AMT. Morgan Stanley raised their price target on shares of American Tower from $270.00 to $316.00 and gave the company an “equal weight” rating in a research note on Friday, September 10th. They noted that the move was a valuation call. Truist Securities raised their price target on shares of American Tower from $280.00 to $315.00 and gave the company a “buy” rating in a research note on Friday, July 30th. Citigroup lowered shares of American Tower from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 13th. Oppenheimer lowered shares of American Tower from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $305.00 to $300.00 in a research note on Friday, September 10th. Finally, KeyCorp raised their target price on shares of American Tower from $285.00 to $302.00 and gave the stock an “overweight” rating in a research note on Monday, July 19th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, American Tower has an average rating of “Buy” and a consensus target price of $298.29.

American Tower stock opened at $264.18 on Thursday. American Tower Co. has a fifty-two week low of $197.50 and a fifty-two week high of $303.72. The company has a debt-to-equity ratio of 4.83, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a 50 day moving average price of $284.03 and a 200 day moving average price of $269.03. The company has a market capitalization of $120.24 billion, a PE ratio of 53.26, a price-to-earnings-growth ratio of 2.07 and a beta of 0.24.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Wednesday, July 28th. The real estate investment trust reported $1.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.27 by ($0.62). American Tower had a return on equity of 44.60% and a net margin of 25.84%. As a group, equities research analysts forecast that American Tower Co. will post 9.28 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Tuesday, September 28th will be paid a $1.31 dividend. This is an increase from American Tower’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend is Monday, September 27th. This represents a $5.24 annualized dividend and a dividend yield of 1.98%. American Tower’s payout ratio is 62.09%.

About American Tower

American Tower Corp. provides real estate investment services, and owns, operates, and develops multitenant communications real estate properties. It operates through the following segments: U.S. & Canada, Asia-Pacific, Europe, Africa Latin America, and Services. The Asia-Pacific segment refers to the operations in Australia and India.

Recommended Story: Trade War

Institutional Ownership by Quarter for American Tower (NYSE:AMT)

Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.