Diversified Trust Co Acquires 648 Shares of American Tower Corp (NYSE:AMT)
Diversified Trust Co boosted its holdings in shares of American Tower Corp (NYSE:AMT) by 17.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,471 shares of the real estate investment trust’s stock after purchasing an additional 648 shares during the quarter. Diversified Trust Co’s holdings in American Tower were worth $1,081,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the stock. Livingston Group Asset Management CO operating as Southport Capital Management lifted its holdings in American Tower by 4.5% during the second quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 2,385 shares of the real estate investment trust’s stock worth $617,000 after acquiring an additional 103 shares in the last quarter. Courier Capital LLC lifted its stake in American Tower by 9.9% during the second quarter. Courier Capital LLC now owns 2,415 shares of the real estate investment trust’s stock worth $638,000 after purchasing an additional 217 shares during the last quarter. Creative Financial Designs Inc. ADV bought a new stake in American Tower during the second quarter worth $75,000. TIAA FSB lifted its stake in American Tower by 3.6% during the third quarter. TIAA FSB now owns 108,082 shares of the real estate investment trust’s stock worth $26,126,000 after purchasing an additional 3,801 shares during the last quarter. Finally, Advisor Group Holdings Inc. bought a new stake in American Tower during the first quarter worth $22,503,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.
In related news, Director David E. Sharbutt sold 973 shares of the firm’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $255.27, for a total value of $248,377.71. Following the transaction, the director now owns 763 shares of the company’s stock, valued at approximately $194,771.01. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Olivier Puech sold 4,078 shares of American Tower stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $265.00, for a total transaction of $1,080,670.00. Following the transaction, the executive vice president now directly owns 21,663 shares in the company, valued at approximately $5,740,695. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,525 shares of company stock worth $6,870,712. 0.65% of the stock is owned by insiders.
American Tower (NYSE:AMT) last announced its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $1.00 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.99 by ($0.99). American Tower had a net margin of 24.70% and a return on equity of 39.62%. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the previous year, the business posted $2.01 EPS. American Tower’s revenue was up 1.2% compared to the same quarter last year. On average, analysts anticipate that American Tower Corp will post 8 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Monday, September 28th were given a $1.14 dividend. This is a boost from American Tower’s previous quarterly dividend of $1.10. The ex-dividend date was Friday, September 25th. This represents a $4.56 annualized dividend and a yield of 1.88%. American Tower’s dividend payout ratio (DPR) is presently 58.99%.
A number of brokerages have recently commented on AMT. Barclays began coverage on American Tower in a research note on Wednesday, July 15th. They issued an “overweight” rating and a $296.00 price target for the company. Oppenheimer began coverage on American Tower in a research note on Tuesday, August 11th. They issued a “buy” rating and a $290.00 price target for the company. Zacks Investment Research upgraded American Tower from a “sell” rating to a “hold” rating and set a $273.00 price target for the company in a research note on Monday, June 29th. Deutsche Bank Aktiengesellschaft dropped their price target on American Tower from $305.00 to $300.00 and set a “buy” rating for the company in a research note on Tuesday, October 6th. Finally, Wells Fargo & Company dropped their price target on American Tower from $290.00 to $285.00 and set an “overweight” rating for the company in a research note on Wednesday, September 16th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $273.69.
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.
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