American Tower Corporation $AMT Shares Bought by Waverly Advisors LLC

Waverly Advisors LLC lifted its holdings in American Tower Corporation (NYSE:AMT) by 11.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 45,679 shares of the real estate investment trust’s stock after buying an additional 4,775 shares during the quarter. Waverly Advisors LLC’s holdings in American Tower were worth $7,883,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of AMT. Riverwater Partners LLC raised its stake in American Tower by 3.8% during the fourth quarter. Riverwater Partners LLC now owns 1,536 shares of the real estate investment trust’s stock worth $270,000 after acquiring an additional 56 shares during the period. Triumph Capital Management lifted its holdings in American Tower by 37.3% in the fourth quarter. Triumph Capital Management now owns 206 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 56 shares during the last quarter. Personal CFO Solutions LLC boosted its stake in American Tower by 3.5% in the fourth quarter. Personal CFO Solutions LLC now owns 1,667 shares of the real estate investment trust’s stock valued at $293,000 after acquiring an additional 57 shares during the period. Twin City Private Wealth LLC grew its holdings in shares of American Tower by 0.7% during the fourth quarter. Twin City Private Wealth LLC now owns 7,799 shares of the real estate investment trust’s stock valued at $1,382,000 after purchasing an additional 58 shares during the last quarter. Finally, Asset Advisory Group Inc. grew its holdings in shares of American Tower by 3.0% during the first quarter. Asset Advisory Group Inc. now owns 2,072 shares of the real estate investment trust’s stock valued at $358,000 after purchasing an additional 60 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMT has been the topic of several recent research reports. Raymond James Financial reissued a “strong-buy” rating and issued a $240.00 price target on shares of American Tower in a report on Wednesday, April 29th. Wolfe Research upgraded American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price objective for the company in a research note on Wednesday, July 8th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $260.00 target price on shares of American Tower in a research report on Wednesday, April 29th. Scotiabank raised their target price on American Tower from $214.00 to $218.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Finally, Sanford C. Bernstein raised shares of American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 price target for the company in a report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $215.57.

Insider Activity

In other news, EVP Ruth T. Dowling sold 416 shares of the firm’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total transaction of $73,856.64. Following the transaction, the executive vice president directly owned 29,461 shares of the company’s stock, valued at approximately $5,230,505.94. This trade represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company’s stock.

American Tower Stock Performance

Shares of NYSE AMT opened at $166.69 on Tuesday. American Tower Corporation has a 12-month low of $160.06 and a 12-month high of $229.07. The company has a market cap of $77.66 billion, a PE ratio of 26.93, a P/E/G ratio of 0.70 and a beta of 0.91. The stock has a 50 day simple moving average of $176.56 and a 200-day simple moving average of $178.30. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, beating the consensus estimate of $1.60 by $1.24. The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.66 billion. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The firm’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the firm earned $2.75 EPS. On average, equities research analysts forecast that American Tower Corporation will post 10.66 EPS for the current year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Friday, June 12th were paid a $1.79 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 4.3%. American Tower’s dividend payout ratio is presently 115.67%.

American Tower Profile

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.