Creative Planning Purchases 729 Shares of American Tower Corp (AMT)
Creative Planning lifted its position in shares of American Tower Corp (NYSE:AMT) by 2.5% during the fourth quarter, HoldingsChannel reports. The firm owned 29,717 shares of the real estate investment trust’s stock after purchasing an additional 729 shares during the quarter. Creative Planning’s holdings in American Tower were worth $4,240,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of AMT. Howe & Rusling Inc. lifted its position in shares of American Tower by 1,608.0% during the third quarter. Howe & Rusling Inc. now owns 854 shares of the real estate investment trust’s stock worth $117,000 after purchasing an additional 804 shares in the last quarter. Legacy Advisors LLC acquired a new position in shares of American Tower during the third quarter worth $132,000. Fieldpoint Private Securities LLC lifted its position in shares of American Tower by 69.6% during the third quarter. Fieldpoint Private Securities LLC now owns 1,060 shares of the real estate investment trust’s stock worth $145,000 after purchasing an additional 435 shares in the last quarter. Americafirst Capital Management LLC acquired a new position in shares of American Tower during the third quarter worth $173,000. Finally, Laurel Wealth Advisors Inc. acquired a new stake in American Tower in the third quarter valued at $202,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.
AMT has been the topic of several recent analyst reports. Argus upped their price target on shares of American Tower to $170.00 and gave the company a “buy” rating in a report on Thursday, November 9th. Zacks Investment Research raised shares of American Tower from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a report on Friday, November 3rd. Jefferies Group upped their price target on shares of American Tower from $144.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, November 1st. Cowen reaffirmed a “buy” rating on shares of American Tower in a report on Tuesday, October 24th. Finally, ValuEngine raised shares of American Tower from a “hold” rating to a “buy” rating in a report on Friday, November 10th. One research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $158.60.
Shares of American Tower Corp (NYSE AMT) opened at $137.62 on Friday. The firm has a market cap of $59,020.00, a price-to-earnings ratio of 52.33, a price-to-earnings-growth ratio of 1.40 and a beta of 0.73. American Tower Corp has a twelve month low of $102.73 and a twelve month high of $155.28. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.61.
American Tower (NYSE:AMT) last issued its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.69 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.61 by ($0.92). American Tower had a return on equity of 16.98% and a net margin of 18.63%. sell-side analysts anticipate that American Tower Corp will post 6.53 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Thursday, December 28th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.03%. This is a boost from American Tower’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Wednesday, December 27th. American Tower’s dividend payout ratio is 106.46%.
American Tower declared that its board has approved a stock repurchase program on Thursday, December 7th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the real estate investment trust to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
In other news, Chairman James D. Taiclet, Jr. sold 34,000 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $151.20, for a total transaction of $5,140,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman James D. Taiclet, Jr. sold 34,667 shares of the company’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $142.52, for a total transaction of $4,940,740.84. Following the transaction, the chairman now owns 305,374 shares of the company’s stock, valued at approximately $43,521,902.48. The disclosure for this sale can be found here. Insiders have sold 75,251 shares of company stock worth $11,026,134 over the last three months. 0.86% of the stock is owned by corporate insiders.
American Tower Company Profile
American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.
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