Dynamic Advisor Solutions LLC Purchases 701 Shares of American Tower Co. (NYSE:AMT)

Dynamic Advisor Solutions LLC raised its position in American Tower Co. (NYSE:AMTFree Report) by 4.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,890 shares of the real estate investment trust’s stock after acquiring an additional 701 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in American Tower were worth $2,942,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AMT. Northwest Investment Counselors LLC bought a new position in shares of American Tower in the first quarter worth about $25,000. Gold Investment Management Ltd. bought a new position in shares of American Tower in the fourth quarter worth about $28,000. Thompson Investment Management Inc. bought a new stake in American Tower during the 4th quarter valued at approximately $29,000. SOA Wealth Advisors LLC. bought a new stake in American Tower during the 1st quarter valued at approximately $30,000. Finally, Private Wealth Management Group LLC bought a new stake in American Tower during the 4th quarter valued at approximately $31,000. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Down 2.1 %

NYSE AMT traded down $4.03 on Tuesday, reaching $192.36. 773,971 shares of the stock traded hands, compared to its average volume of 2,429,639. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.85 and a current ratio of 0.85. The company has a fifty day moving average price of $186.45 and a 200-day moving average price of $195.33. The company has a market cap of $89.83 billion, a price-to-earnings ratio of 43.74, a PEG ratio of 1.39 and a beta of 0.79. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10.

American Tower (NYSE:AMTGet Free Report) last issued its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the firm earned $2.54 earnings per share. As a group, research analysts forecast that American Tower Co. will post 10.03 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 14th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Friday, June 14th. American Tower’s payout ratio is 146.61%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Scotiabank decreased their target price on American Tower from $243.00 to $223.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, May 1st. Raymond James upgraded American Tower from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $226.00 to $248.00 in a report on Wednesday, May 1st. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. BMO Capital Markets cut their price target on American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Finally, Morgan Stanley raised their price target on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $220.91.

View Our Latest Report on American Tower

Insider Transactions at American Tower

In other news, EVP Sanjay Goel sold 3,504 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total value of $702,061.44. Following the completion of the transaction, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Sanjay Goel sold 3,504 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the transaction, the executive vice president now directly owns 28,413 shares in the company, valued at approximately $5,692,828.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert D. Hormats sold 700 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total value of $128,450.00. Following the transaction, the director now owns 7,332 shares in the company, valued at $1,345,422. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

American Tower Company Profile

(Free Report)

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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.

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

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