Trillium Asset Management LLC grew its holdings in American Tower Corp (NYSE:AMT) by 153.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,991 shares of the real estate investment trust’s stock after purchasing an additional 38,787 shares during the period. Trillium Asset Management LLC’s holdings in American Tower were worth $12,610,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc increased its stake in American Tower by 6.7% during the 3rd quarter. Vanguard Group Inc now owns 56,635,438 shares of the real estate investment trust’s stock worth $8,229,130,000 after purchasing an additional 3,579,249 shares in the last quarter. Sit Investment Associates Inc. increased its stake in American Tower by 65.7% during the 4th quarter. Sit Investment Associates Inc. now owns 1,450 shares of the real estate investment trust’s stock worth $229,000 after purchasing an additional 575 shares in the last quarter. Gateway Investment Advisers LLC increased its stake in American Tower by 2.4% during the 4th quarter. Gateway Investment Advisers LLC now owns 22,464 shares of the real estate investment trust’s stock worth $3,554,000 after purchasing an additional 518 shares in the last quarter. IMA Wealth Inc. bought a new stake in American Tower during the 4th quarter worth approximately $112,000. Finally, First Financial Corp IN increased its stake in American Tower by 5.5% during the 4th quarter. First Financial Corp IN now owns 3,032 shares of the real estate investment trust’s stock worth $480,000 after purchasing an additional 157 shares in the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently issued reports on AMT. Wells Fargo & Co cut American Tower from an “outperform” rating to a “market perform” rating and increased their target price 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. SunTrust Banks increased their target price on American Tower to $210.00 and gave the stock a “positive” rating in a research note on Monday, May 6th. Royal Bank of Canada increased their target price on American Tower from $195.00 to $203.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. Bank of America increased their target price on American Tower from $172.00 to $208.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Finally, Edward Jones cut American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, March 13th. Twelve investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $180.44.
American Tower (NYSE:AMT) last issued its quarterly earnings results on Friday, May 3rd. The real estate investment trust reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.04. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.80 billion. American Tower had a net margin of 17.95% and a return on equity of 22.61%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the business earned $0.63 EPS. On average, sell-side analysts anticipate that American Tower Corp will post 7.51 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Thursday, April 11th were paid a dividend of $0.90 per share. This is a boost from American Tower’s previous quarterly dividend of $0.84. This represents a $3.60 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Wednesday, April 10th. American Tower’s dividend payout ratio (DPR) is currently 45.06%.
In other news, Director Joann A. Reed sold 1,538 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $175.61, for a total value of $270,088.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Olivier Puech sold 1,169 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $188.18, for a total value of $219,982.42. Following the completion of the sale, the executive vice president now directly owns 19,147 shares of the company’s stock, valued at approximately $3,603,082.46. The disclosure for this sale can be found here. Insiders have sold a total of 171,718 shares of company stock valued at $33,175,251 over the last ninety days. Company insiders own 0.75% of the company’s stock.
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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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