American Tower Corp (NYSE:AMT) Shares Bought by Wendell David Associates Inc.

Wendell David Associates Inc. increased its position in shares of American Tower Corp (NYSE:AMT) by 2.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,142 shares of the real estate investment trust’s stock after purchasing an additional 883 shares during the quarter. American Tower makes up approximately 1.4% of Wendell David Associates Inc.’s holdings, making the stock its 22nd biggest holding. Wendell David Associates Inc.’s holdings in American Tower were worth $9,093,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AMT. Oregon Public Employees Retirement Fund increased its position in shares of American Tower by 15,525.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,579,832 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 7,531,324 shares in the last quarter. FMR LLC increased its position in American Tower by 32.6% in the 4th quarter. FMR LLC now owns 20,144,710 shares of the real estate investment trust’s stock valued at $3,186,692,000 after acquiring an additional 4,949,323 shares in the last quarter. Vanguard Group Inc increased its position in American Tower by 6.7% in the 3rd quarter. Vanguard Group Inc now owns 56,635,438 shares of the real estate investment trust’s stock valued at $8,229,130,000 after acquiring an additional 3,579,249 shares in the last quarter. Vanguard Group Inc. increased its position in American Tower by 6.7% in the 3rd quarter. Vanguard Group Inc. now owns 56,635,438 shares of the real estate investment trust’s stock valued at $8,229,130,000 after acquiring an additional 3,579,249 shares in the last quarter. Finally, Norges Bank acquired a new stake in American Tower in the 4th quarter valued at about $546,909,000. Institutional investors and hedge funds own 94.67% of the company’s stock.

Several research firms have weighed in on AMT. Bank of America raised their price objective on shares of American Tower from $172.00 to $208.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Morgan Stanley lifted their price target on shares of American Tower from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Monday, March 11th. Wells Fargo & Co cut shares of American Tower from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $190.00 to $196.00 in a research report on Monday, April 15th. They noted that the move was a valuation call. Oppenheimer cut shares of American Tower from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 28th. Finally, KeyCorp lifted their price target on shares of American Tower from $180.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, February 28th. They noted that the move was a valuation call. Twelve investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $177.25.

In related news, Chairman James D. Taiclet, Jr. sold 57,439 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $194.31, for a total transaction of $11,160,972.09. Following the transaction, the chairman now directly owns 255,415 shares in the company, valued at $49,629,688.65. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP William H. Hess sold 20,000 shares of the company’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 owns 92,231 shares in the company, valued at $17,244,430.07. The disclosure for this sale can be found here. Insiders sold 156,915 shares of company stock worth $30,325,109 over the last quarter. 0.75% of the stock is owned by corporate insiders.

AMT traded up $0.15 during trading on Friday, reaching $192.95. The company had a trading volume of 1,059,077 shares, 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. American Tower Corp has a 12 month low of $134.87 and a 12 month high of $198.19. The firm has a market cap of $85.12 billion, a P/E ratio of 24.15, a PEG ratio of 1.65 and a beta of 0.66.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Friday, May 3rd. The real estate investment trust reported $1.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.80 by $0.04. American Tower had a net margin of 16.62% and a return on equity of 19.86%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the firm posted $0.63 earnings per share. The business’s revenue was up 4.1% on a year-over-year basis. On average, sell-side analysts anticipate that American Tower Corp will post 7.53 earnings per share for the current fiscal year.

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