Northside Capital Management LLC Purchases Shares of 1,180 American Tower Corp (AMT)

Northside Capital Management LLC bought a new stake in American Tower Corp (NYSE:AMT) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,180 shares of the real estate investment trust’s stock, valued at approximately $233,000.

Other large investors have also made changes to their positions in the company. Canton Hathaway LLC purchased a new stake in shares of American Tower in the first quarter valued at about $26,000. Quantamental Technologies LLC acquired a new position in shares of American Tower during the fourth quarter worth about $25,000. Lavaca Capital LLC acquired a new position in shares of American Tower during the fourth quarter worth about $27,000. WESPAC Advisors SoCal LLC acquired a new position in shares of American Tower during the fourth quarter worth about $27,000. Finally, Acima Private Wealth LLC acquired a new position in shares of American Tower during the fourth quarter worth about $27,000. 94.67% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have recently issued reports on the stock. KeyCorp boosted their price target on shares of American Tower from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 12th. Edward Jones lowered shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, March 13th. Macquarie reiterated a “buy” rating and set a $210.00 price target on shares of American Tower in a research note on Thursday, February 28th. Wells Fargo & Co lowered shares of American Tower from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $190.00 to $196.00 in a research note on Monday, April 15th. They noted that the move was a valuation call. Finally, CIBC restated a “market perform” rating on shares of American Tower in a research report on Thursday, February 28th. Twelve research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. American Tower has a consensus rating of “Hold” and an average price target of $177.25.

In other news, Chairman James D. Taiclet, Jr. sold 57,439 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $194.31, for a total value of $11,160,972.09. Following the transaction, the chairman now owns 255,415 shares of the company’s stock, valued at approximately $49,629,688.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP William H. Hess sold 20,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $186.97, for a total transaction of $3,739,400.00. Following the completion of the transaction, the executive vice president now directly owns 92,231 shares in the company, valued at approximately $17,244,430.07. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 156,915 shares of company stock worth $30,325,109. 0.75% of the stock is currently owned by insiders.

Shares of AMT traded up $0.15 on Friday, hitting $192.95. 1,059,077 shares of the stock traded hands, compared to its average volume of 1,792,703. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.68 and a current ratio of 0.68. The company has a market capitalization of $85.12 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 1.65 and a beta of 0.66. American Tower Corp has a 1 year low of $134.87 and a 1 year high of $198.19.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Friday, May 3rd. The real estate investment trust reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.04. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.80 billion. American Tower had a net margin of 16.62% and a return on equity of 19.86%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Equities analysts expect that American Tower Corp will post 7.53 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Thursday, April 11th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Wednesday, April 10th. This represents a $3.60 dividend on an annualized basis and a yield of 1.87%. This is an increase from American Tower’s previous quarterly dividend of $0.84. American Tower’s dividend payout ratio (DPR) is currently 45.06%.

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About American Tower

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 approximately 171,000 communications sites.

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

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