OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in American Tower Corp (NYSE:AMT) by 9.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,943 shares of the real estate investment trust’s stock after buying an additional 2,000 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in American Tower were worth $3,452,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Kaizen Advisory LLC grew its position in American Tower by 140.6% in the 2nd quarter. Kaizen Advisory LLC now owns 1,008 shares of the real estate investment trust’s stock valued at $145,000 after buying an additional 589 shares during the last quarter. Valeo Financial Advisors LLC grew its position in American Tower by 75.0% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,029 shares of the real estate investment trust’s stock valued at $153,000 after buying an additional 441 shares during the last quarter. RMR Advisors LLC purchased a new position in American Tower in the 2nd quarter valued at $173,000. Sun Life Financial INC grew its position in American Tower by 311.3% in the 2nd quarter. Sun Life Financial INC now owns 1,197 shares of the real estate investment trust’s stock valued at $173,000 after buying an additional 906 shares during the last quarter. Finally, Signaturefd LLC purchased a new position in American Tower in the 1st quarter valued at $182,000. Hedge funds and other institutional investors own 93.31% of the company’s stock.

A number of equities research analysts have commented on AMT shares. Morgan Stanley raised their target price on American Tower from $154.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, August 16th. Guggenheim downgraded American Tower from a “buy” rating to a “neutral” rating and set a $135.00 target price for the company. in a report on Monday, July 16th. Oppenheimer raised their target price on American Tower from $167.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, August 1st. Deutsche Bank raised their target price on American Tower from $155.00 to $169.00 and gave the company a “buy” rating in a report on Wednesday, August 1st. Finally, SunTrust Banks reissued a “buy” rating and issued a $167.00 target price on shares of American Tower in a report on Friday, July 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $162.14.

In related news, Chairman James D. Taiclet, Jr. sold 43,808 shares of American Tower stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $150.65, for a total transaction of $6,599,675.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman James D. Taiclet, Jr. sold 43,843 shares of American Tower stock in a transaction dated Monday, July 9th. The stock was sold at an average price of $142.66, for a total value of $6,254,642.38. Following the sale, the chairman now owns 223,227 shares of the company’s stock, valued at approximately $31,845,563.82. The disclosure for this sale can be found here. In the last quarter, insiders have sold 124,124 shares of company stock valued at $18,269,268. 0.87% of the stock is currently owned by company insiders.

NYSE:AMT opened at $148.72 on Friday. The firm has a market cap of $64.94 billion, a PE ratio of 23.31, a PEG ratio of 1.57 and a beta of 0.82. The company has a debt-to-equity ratio of 2.99, a current ratio of 0.66 and a quick ratio of 0.66. American Tower Corp has a 52-week low of $130.37 and a 52-week high of $155.28.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, July 31st. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($1.04). The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.75 billion. American Tower had a return on equity of 16.72% and a net margin of 16.34%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the firm earned $1.58 EPS. analysts expect that American Tower Corp will post 7.1 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 17th. Investors of record on Friday, September 28th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Thursday, September 27th. This is a boost from American Tower’s previous quarterly dividend of $0.77. American Tower’s dividend payout ratio (DPR) is currently 48.28%.

About American Tower

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 170,000 communications sites.

See Also: Earnings Per Share (EPS) Explained

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

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