Appleton Partners Inc. MA Acquires 731 Shares of American Tower Corp (NYSE:AMT)

Appleton Partners Inc. MA boosted its holdings in American Tower Corp (NYSE:AMT) by 1.1% in the third quarter, Holdings Channel reports. The firm owned 66,361 shares of the real estate investment trust’s stock after purchasing an additional 731 shares during the quarter. American Tower comprises about 1.8% of Appleton Partners Inc. MA’s holdings, making the stock its 11th biggest position. Appleton Partners Inc. MA’s holdings in American Tower were worth $14,674,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Commerzbank Aktiengesellschaft FI grew its position in shares of American Tower by 136.6% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 34,931 shares of the real estate investment trust’s stock valued at $7,142,000 after acquiring an additional 20,167 shares during the period. Commonwealth Equity Services LLC grew its position in shares of American Tower by 5.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 75,512 shares of the real estate investment trust’s stock valued at $15,438,000 after acquiring an additional 3,774 shares during the period. Calamos Advisors LLC grew its position in shares of American Tower by 1.1% in the 2nd quarter. Calamos Advisors LLC now owns 278,307 shares of the real estate investment trust’s stock valued at $56,900,000 after acquiring an additional 3,102 shares during the period. Stock Yards Bank & Trust Co. grew its position in shares of American Tower by 0.8% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 98,498 shares of the real estate investment trust’s stock valued at $20,138,000 after acquiring an additional 804 shares during the period. Finally, Autus Asset Management LLC grew its position in shares of American Tower by 45.4% in the 2nd quarter. Autus Asset Management LLC now owns 7,391 shares of the real estate investment trust’s stock valued at $1,511,000 after acquiring an additional 2,309 shares during the period. 92.54% of the stock is owned by institutional investors and hedge funds.

In other news, Director Pamela D. A. Reeve sold 4,167 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $240.80, for a total transaction of $1,003,413.60. Following the completion of the sale, the director now owns 19,139 shares in the company, valued at approximately $4,608,671.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Edmund Disanto sold 31,669 shares of American Tower stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $226.54, for a total transaction of $7,174,295.26. Following the completion of the sale, the executive vice president now owns 166,730 shares of the company’s stock, valued at approximately $37,771,014.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 140,524 shares of company stock valued at $31,519,347. 0.75% of the stock is currently owned by corporate insiders.

NYSE AMT opened at $207.98 on Thursday. The firm has a 50-day moving average of $221.69 and a 200-day moving average of $213.29. The company has a debt-to-equity ratio of 4.40, a quick ratio of 0.53 and a current ratio of 0.53. The stock has a market cap of $95.41 billion, a PE ratio of 26.03, a P/E/G ratio of 1.72 and a beta of 0.43. American Tower Corp has a 52-week low of $150.66 and a 52-week high of $242.00.

American Tower (NYSE:AMT) last posted its earnings results on Thursday, October 31st. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.17. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.88 billion. American Tower had a net margin of 20.58% and a return on equity of 27.12%. American Tower’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.85 EPS. As a group, analysts predict that American Tower Corp will post 7.7 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Friday, September 27th were paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend was Thursday, September 26th. This is a boost from American Tower’s previous quarterly dividend of $0.92. American Tower’s dividend payout ratio (DPR) is currently 47.56%.

A number of research analysts have recently commented on AMT shares. KeyCorp set a $242.00 price objective on shares of American Tower and gave the company a “buy” rating in a research report on Friday, November 1st. ValuEngine downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research raised shares of American Tower from a “hold” rating to a “buy” rating and set a $237.00 price objective for the company in a research report on Tuesday, August 20th. SunTrust Banks lifted their price objective on shares of American Tower to $230.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Morgan Stanley lifted their price objective on shares of American Tower from $201.00 to $216.00 and gave the company an “equal weight” rating in a research report on Thursday, September 19th. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $215.79.

American Tower Company Profile

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 171,000 communications sites.

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

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