American Tower Corp (AMT) Shares Bought by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC increased its stake in American Tower Corp (NYSE:AMT) by 5.1% during the first quarter, Holdings Channel reports. The institutional investor owned 3,430 shares of the real estate investment trust’s stock after buying an additional 166 shares during the period. TrinityPoint Wealth LLC’s holdings in American Tower were worth $676,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Quantamental Technologies LLC bought a new stake in shares of American Tower during the fourth quarter valued at about $25,000. Canton Hathaway LLC bought a new stake in shares of American Tower during the first quarter valued at about $26,000. Lavaca Capital LLC bought a new stake in shares of American Tower during the fourth quarter valued at about $27,000. Acima Private Wealth LLC bought a new stake in shares of American Tower during the fourth quarter valued at about $27,000. Finally, WESPAC Advisors SoCal LLC bought a new stake in shares of American Tower during the fourth quarter valued at about $27,000. 94.84% of the stock is currently owned by institutional investors and hedge funds.

In related news, SVP Robert Joseph Meyer, Jr. sold 44,168 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $198.33, for a total value of $8,759,839.44. Following the completion of the sale, the senior vice president now owns 54,460 shares of the company’s stock, valued at $10,801,051.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman James D. Taiclet, Jr. sold 57,439 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $194.31, for a total value of $11,160,972.09. Following the completion of the sale, the chairman now directly owns 255,415 shares of the company’s stock, valued at approximately $49,629,688.65. The disclosure for this sale can be found here. In the last three months, insiders have sold 215,986 shares of company stock valued at $41,954,910. Insiders own 0.75% of the company’s stock.

Several equities research analysts have recently weighed in on the company. Morgan Stanley upped their price target on American Tower from $185.00 to $201.00 and gave the company an “equal weight” rating in a research report on Monday. Royal Bank of Canada upped their price target on American Tower from $195.00 to $203.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. SunTrust Banks upped their price objective on shares of American Tower to $210.00 and gave the stock a “positive” rating in a research report on Monday, May 6th. Wells Fargo & Co lowered American Tower from an “outperform” rating to a “market perform” rating and upped 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. Finally, Bank of America upped 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. Twelve research 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 an average rating of “Hold” and a consensus target price of $181.44.

Shares of NYSE:AMT traded down $4.68 during trading on Monday, reaching $197.75. 1,325,520 shares of the company traded hands, compared to its average volume of 1,255,735. The firm has a market cap of $89.48 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 1.65 and a beta of 0.66. American Tower Corp has a 52-week low of $134.87 and a 52-week high of $203.38. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.50 and a current ratio of 0.50.

American Tower (NYSE:AMT) last released its quarterly earnings data on Friday, May 3rd. The real estate investment trust reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.04. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.80 billion. American Tower had a return on equity of 22.61% and a net margin of 17.95%. The business’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. Research analysts predict that American Tower Corp will post 7.51 EPS for the current year.

The business also recently disclosed 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 represents a $3.60 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date was Wednesday, April 10th. This is a positive change from American Tower’s previous quarterly dividend of $0.84. American Tower’s dividend payout ratio is 45.06%.

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American Tower 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.

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

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