American Tower Corporation $AMT Stock Acquired by Lido Advisors LLC

Lido Advisors LLC boosted its stake in shares of American Tower Corporation (NYSE:AMT) by 11.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 140,443 shares of the real estate investment trust’s stock after buying an additional 14,648 shares during the period. Lido Advisors LLC’s holdings in American Tower were worth $22,989,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of American Tower in the second quarter valued at approximately $7,490,943,000. State Street Corp increased its position in shares of American Tower by 2.9% during the second quarter. State Street Corp now owns 22,066,202 shares of the real estate investment trust’s stock worth $3,647,491,000 after acquiring an additional 631,593 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of American Tower by 20.4% during the first quarter. Lazard Asset Management LLC now owns 7,325,943 shares of the real estate investment trust’s stock worth $1,264,311,000 after acquiring an additional 1,240,780 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of American Tower during the second quarter worth $1,096,186,000. Finally, Legal & General Group Plc raised its holdings in shares of American Tower by 0.6% during the second quarter. Legal & General Group Plc now owns 4,853,850 shares of the real estate investment trust’s stock worth $793,944,000 after acquiring an additional 27,929 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AMT shares. Mizuho set a $208.00 price objective on shares of American Tower in a research report on Thursday, August 20th. Royal Bank Of Canada reiterated an “outperform” rating and set a $205.00 target price on shares of American Tower in a report on Wednesday, October 28th. Scotiabank reissued an “outperform” rating on shares of American Tower in a research note on Wednesday, July 29th. Jefferies Financial Group dropped their price target on American Tower from $210.00 to $201.00 and set a “buy” rating on the stock in a research note on Wednesday, July 15th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of American Tower in a report on Tuesday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $216.11.

American Tower Trading Down 0.0%

NYSE:AMT opened at $190.29 on Thursday. American Tower Corporation has a twelve month low of $160.06 and a twelve 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 business has a 50 day moving average price of $178.09 and a two-hundred day moving average price of $177.83. The company has a market cap of $88.25 billion, a P/E ratio of 26.84, a price-to-earnings-growth ratio of 3.43 and a beta of 0.85.

American Tower (NYSE:AMT) last issued its quarterly earnings results 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 company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same period last year, the business earned $2.78 EPS. The business’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, analysts expect that American Tower Corporation will post 10.80 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 20th. Investors of record on Wednesday, September 30th were issued a dividend of $1.79 per share. The ex-dividend date was Wednesday, September 30th. This represents a $7.16 annualized dividend and a yield of 3.8%. American Tower’s dividend payout ratio is presently 100.99%.

American Tower declared that its board has approved a share buyback program on Tuesday, October 27th that allows the company to repurchase $2 billion in shares. This buyback authorization allows the real estate investment trust to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at American Tower

In other American Tower news, EVP Ruth T. Dowling sold 952 shares of American Tower stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $185.81, for a total value of $176,891.12. Following the sale, the executive vice president directly owned 26,133 shares in the company, valued at approximately $4,855,772.73. The trade was a 3.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur purchased 2,829 shares of the business’s stock in a transaction on Friday, August 21st. The shares were acquired at an average cost of $177.00 per share, for a total transaction of $500,733.00. Following the completion of the transaction, the director directly owned 7,765 shares in the company, valued at approximately $1,374,405. This represents a 57.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.08% of the company’s stock.

American Tower Company 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.