Grandview Asset Management LLC Has $742,000 Stake in American Tower Corp (AMT)

Grandview Asset Management LLC lowered its position in American Tower Corp (NYSE:AMT) by 3.1% during the first quarter, Holdings Channel reports. The institutional investor owned 3,765 shares of the real estate investment trust’s stock after selling 122 shares during the quarter. Grandview Asset Management LLC’s holdings in American Tower were worth $742,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of AMT. Quantamental Technologies LLC purchased a new stake in American Tower during the 4th quarter worth approximately $25,000. Canton Hathaway LLC purchased a new stake in American Tower during the 1st quarter worth approximately $26,000. Lavaca Capital LLC purchased a new stake in American Tower during the 4th quarter worth approximately $27,000. Acima Private Wealth LLC purchased a new stake in American Tower during the 4th quarter worth approximately $27,000. Finally, WESPAC Advisors SoCal LLC purchased a new stake in American Tower during the 4th quarter worth approximately $27,000. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

AMT has been the topic of several research analyst reports. KeyCorp boosted their target price on shares of American Tower from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 12th. Morgan Stanley boosted their target price 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. Citigroup boosted their target price on shares of American Tower from $176.00 to $186.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Edward Jones downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, March 13th. Finally, Oppenheimer downgraded shares of American Tower from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 28th. Twelve research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $180.44.

AMT stock opened at $202.02 on Friday. The firm has a market capitalization of $89.30 billion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 1.64 and a beta of 0.66. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 4.31. American Tower Corp has a 12 month low of $134.87 and a 12 month high of $203.38.

American Tower (NYSE:AMT) last released its quarterly earnings data on Friday, May 3rd. The real estate investment trust reported $1.84 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 17.95% and a return on equity of 22.61%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 EPS. On average, research analysts expect that American Tower Corp will post 7.51 EPS 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. This is an increase 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 of this dividend was Wednesday, April 10th. American Tower’s dividend payout ratio is 45.06%.

In other news, Director Joann A. Reed sold 1,538 shares of the company’s stock in a transaction on Friday, March 1st. The shares were 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 SEC, which can be accessed through the SEC website. Also, Chairman James D. Taiclet, Jr. sold 57,439 shares of the company’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 completion of the sale, the chairman now directly owns 255,415 shares in the company, valued at $49,629,688.65. The disclosure for this sale can be found here. Insiders sold a total of 215,886 shares of company stock worth $41,935,090 over the last ninety days. Insiders own 0.75% of the company’s stock.

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American Tower Company Profile

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.

Further Reading: What is Put Option Volume?

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

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