Gilbert & Cook Inc. grew its holdings in American Tower Corp (NYSE:AMT) by 16.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,346 shares of the real estate investment trust’s stock after buying an additional 187 shares during the period. Gilbert & Cook Inc.’s holdings in American Tower were worth $298,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Northwest Investment Counselors LLC purchased a new position in shares of American Tower during the 3rd quarter worth about $25,000. Nelson Roberts Investment Advisors LLC purchased a new position in shares of American Tower during the 2nd quarter worth about $27,000. Next Capital Management LLC purchased a new position in shares of American Tower during the 2nd quarter worth about $31,000. NewSquare Capital LLC boosted its stake in shares of American Tower by 192.3% during the 2nd quarter. NewSquare Capital LLC now owns 152 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 100 shares during the period. Finally, CX Institutional boosted its stake in shares of American Tower by 54.9% during the 2nd quarter. CX Institutional now owns 158 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 56 shares during the period. 92.54% of the stock is owned by institutional investors and hedge funds.

NYSE AMT traded up $0.18 during mid-day trading on Friday, reaching $205.87. 1,799,862 shares of the stock were exchanged, compared to its average volume of 1,770,815. The business’s 50 day moving average is $220.99 and its 200-day moving average is $213.42. American Tower Corp has a 1 year low of $150.66 and a 1 year high of $242.00. The company has a market capitalization of $91.20 billion, a P/E ratio of 25.77, a P/E/G ratio of 1.65 and a beta of 0.43. The company has a debt-to-equity ratio of 4.40, a quick ratio of 0.53 and a current ratio of 0.53.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.17. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.88 billion. American Tower had a net margin of 20.58% and a return on equity of 27.12%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.85 earnings per share. Equities analysts predict that American Tower Corp will post 7.65 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Friday, September 27th were given a dividend of $0.95 per share. This is a boost from American Tower’s previous quarterly dividend of $0.92. This represents a $3.80 annualized dividend and a yield of 1.85%. The ex-dividend date was Thursday, September 26th. American Tower’s dividend payout ratio (DPR) is presently 47.56%.

Several equities research analysts have issued reports on the stock. Citigroup boosted their price objective on shares of American Tower from $236.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Cowen boosted their price objective on shares of American Tower from $238.00 to $260.00 and gave the company an “in-line” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. boosted their price objective on shares of American Tower from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. SunTrust Banks boosted their price objective on shares of American Tower to $230.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Morgan Stanley boosted their price objective on shares of American Tower from $201.00 to $216.00 and gave the company an “equal weight” rating in a research report on Thursday, September 19th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $215.79.

In related news, EVP Edmund Disanto sold 63,686 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $221.06, for a total transaction of $14,078,427.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Craig Macnab sold 5,953 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $225.46, for a total transaction of $1,342,163.38. Following the sale, the director now owns 14,341 shares of the company’s stock, valued at $3,233,321.86. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 141,524 shares of company stock valued at $31,726,127. 0.75% of the stock is owned by company insiders.

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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