Sand Hill Global Advisors LLC Boosts Position in American Tower Corp (AMT)
Sand Hill Global Advisors LLC increased its holdings in shares of American Tower Corp (NYSE:AMT) by 2.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,619 shares of the real estate investment trust’s stock after purchasing an additional 754 shares during the quarter. Sand Hill Global Advisors LLC’s holdings in American Tower were worth $4,185,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP grew its stake in shares of American Tower by 2.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 173,964 shares of the real estate investment trust’s stock worth $21,140,000 after acquiring an additional 4,068 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of American Tower by 208.8% in the 2nd quarter. Bessemer Group Inc. now owns 5,428 shares of the real estate investment trust’s stock valued at $718,000 after buying an additional 3,670 shares during the last quarter. Markel Corp boosted its holdings in shares of American Tower by 20.3% in the 2nd quarter. Markel Corp now owns 35,500 shares of the real estate investment trust’s stock valued at $4,697,000 after buying an additional 6,000 shares during the last quarter. Stratos Wealth Partners LTD. boosted its holdings in shares of American Tower by 14.2% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 4,815 shares of the real estate investment trust’s stock valued at $637,000 after buying an additional 599 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its holdings in shares of American Tower by 1.7% in the 2nd quarter. Candriam Luxembourg S.C.A. now owns 42,202 shares of the real estate investment trust’s stock valued at $5,584,000 after buying an additional 687 shares during the last quarter. 91.89% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently commented on AMT. Argus increased their price objective on American Tower to $170.00 and gave the company a “buy” rating in a report on Thursday, November 9th. Zacks Investment Research downgraded American Tower from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. ValuEngine raised American Tower from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Morgan Stanley raised their price target on American Tower from $155.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, November 14th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $177.00 price target (up previously from $156.00) on shares of American Tower in a report on Monday, November 27th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. American Tower presently has an average rating of “Buy” and a consensus target price of $158.50.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Thursday, December 28th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.94%. This is a boost from American Tower’s previous quarterly dividend of $0.66. American Tower’s dividend payout ratio (DPR) is presently 100.38%.
In other American Tower news, Chairman James D. Taiclet, Jr. sold 34,000 shares of American Tower stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $145.89, for a total value of $4,960,260.00. Following the transaction, the chairman now owns 304,707 shares in the company, valued at $44,453,704.23. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Edmund Disanto sold 10,000 shares of American Tower stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $136.00, for a total value of $1,360,000.00. Following the completion of the transaction, the executive vice president now owns 151,928 shares in the company, valued at approximately $20,662,208. The disclosure for this sale can be found here. Insiders sold 122,000 shares of company stock worth $17,580,160 in the last 90 days. 0.86% of the stock is owned by company insiders.
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American Tower Profile
American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.
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