American Tower Corporation $AMT Shares Acquired by Uhlmann Price Securities LLC

Uhlmann Price Securities LLC grew its stake in shares of American Tower Corporation (NYSE:AMT) by 201.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 7,719 shares of the real estate investment trust’s stock after buying an additional 5,161 shares during the period. Uhlmann Price Securities LLC’s holdings in American Tower were worth $1,264,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in AMT. Ethic Inc. grew its position in American Tower by 10.7% during the third quarter. Ethic Inc. now owns 67,820 shares of the real estate investment trust’s stock worth $11,101,000 after buying an additional 6,581 shares in the last quarter. 180 Wealth Advisors LLC raised its holdings in American Tower by 1.9% in the 3rd quarter. 180 Wealth Advisors LLC now owns 13,963 shares of the real estate investment trust’s stock valued at $2,286,000 after acquiring an additional 263 shares in the last quarter. Buckhead Capital Management LLC acquired a new position in American Tower in the 3rd quarter valued at approximately $1,614,000. Kornitzer Capital Management Inc. KS lifted its position in shares of American Tower by 88.2% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 6,400 shares of the real estate investment trust’s stock worth $1,048,000 after acquiring an additional 3,000 shares during the period. Finally, Palisade Asset Management LLC lifted its position in shares of American Tower by 0.4% in the 3rd quarter. Palisade Asset Management LLC now owns 39,941 shares of the real estate investment trust’s stock worth $6,538,000 after acquiring an additional 166 shares during the period. Institutional investors own 92.69% of the company’s stock.

Insider Activity at American Tower

In other news, Director Rajesh Kalathur acquired 2,829 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was purchased at an average price of $177.00 per share, for a total transaction of $500,733.00. Following the completion of the acquisition, the director owned 7,765 shares in the company, valued at $1,374,405. This trade represents a 57.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Ruth Dowling sold 952 shares of American Tower stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $185.81, for a total transaction of $176,891.12. Following the transaction, the executive vice president directly owned 26,133 shares in the company, valued at approximately $4,855,772.73. This represents a 3.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by company insiders.

American Tower Stock Down 2.7%

Shares of NYSE AMT opened at $188.81 on Friday. American Tower Corporation has a 12-month low of $160.06 and a 12-month high of $202.50. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 3.30. The firm’s 50-day simple moving average is $177.26 and its 200 day simple moving average is $177.65. The company has a market cap of $87.98 billion, a price-to-earnings ratio of 26.63, a price-to-earnings-growth ratio of 3.41 and a beta of 0.85.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, October 27th. The real estate investment trust reported $1.64 earnings per share for the quarter, hitting the consensus estimate of $1.64. American Tower had a net margin of 30.10% and a return on equity of 32.71%. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter in the previous year, the company posted $2.78 EPS. American Tower’s revenue was up 2.5% on a year-over-year basis. On average, research analysts expect that American Tower Corporation will post 10.80 earnings per share for the current fiscal year.

American Tower declared that its board has initiated a share repurchase plan on Tuesday, October 27th that allows the company to repurchase $2 billion in shares. This repurchase authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Share repurchase plans are often a sign that the company’s management believes its stock is undervalued.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 20th. Stockholders of record on Wednesday, September 30th were paid a $1.79 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 3.8%. American Tower’s dividend payout ratio is 100.99%.

Analysts Set New Price Targets

Several analysts have recently weighed in on AMT shares. Mizuho set a $208.00 price objective on American Tower in a report on Thursday, August 20th. Argus restated a “buy” rating and issued a $210.00 target price on shares of American Tower in a research note on Thursday. Citigroup reduced their target price on American Tower from $225.00 to $220.00 and set a “buy” rating for the company in a research report on Wednesday, October 28th. BMO Capital Markets raised their target price on American Tower from $190.00 to $195.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of American Tower in a research note on Tuesday, October 27th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $216.11.

American Tower Profile

American Tower Corporation is a real estate investment trust that owns, operates and develops communications infrastructure. Its portfolio includes wireless and broadcast communications sites, such as towers and rooftop installations, where mobile network operators and other customers place antennas and related equipment.

The company also provides services related to site acquisition, development, construction and maintenance. Through its CoreSite business, American Tower operates data centers and provides colocation and interconnection services.

Founded in 1995 and headquartered in Boston, American Tower serves customers in the United States and in markets across Africa, Asia-Pacific, Europe and Latin America.