Creative Planning Grows Stock Holdings in American Tower Corp (NYSE:AMT)

Creative Planning lifted its position in shares of American Tower Corp (NYSE:AMT) by 11.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,297 shares of the real estate investment trust’s stock after purchasing an additional 5,321 shares during the period. Creative Planning’s holdings in American Tower were worth $11,343,000 at the end of the most recent reporting period.

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

A number of research analysts have commented on the stock. Citigroup lifted their price objective on shares of American Tower from $236.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Zacks Investment Research upgraded shares of American Tower from a “hold” rating to a “buy” rating and set a $237.00 price objective on the stock in a research note on Tuesday, August 20th. Cowen lifted their price objective on shares of American Tower from $238.00 to $260.00 and gave the company an “in-line” rating in a research note on Friday, November 1st. 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 note on Thursday, September 19th. Finally, SunTrust Banks lifted their price objective on shares of American Tower to $230.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $215.79.

In other news, Director Craig Macnab sold 5,953 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $225.46, for a total transaction of $1,342,163.38. Following the transaction, the director now directly owns 14,341 shares in the company, valued at $3,233,321.86. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Pamela D. A. Reeve sold 4,167 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $240.80, for a total transaction of $1,003,413.60. Following the transaction, the director now owns 19,139 shares in the company, valued at $4,608,671.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 140,524 shares of company stock worth $31,519,347. Company insiders own 0.75% of the company’s stock.

Shares of American Tower stock traded down $2.81 on Thursday, reaching $205.17. 471,908 shares of the stock were exchanged, compared to its average volume of 1,620,631. American Tower Corp has a 1-year low of $150.66 and a 1-year high of $242.00. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 4.40. The business has a fifty day moving average price of $221.69 and a two-hundred day moving average price of $213.29. The firm has a market capitalization of $93.44 billion, a PE ratio of 25.68, a PEG ratio of 1.68 and a beta of 0.43.

American Tower (NYSE:AMT) last issued its quarterly 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. American Tower had a net margin of 20.58% and a return on equity of 27.12%. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the business posted $1.85 earnings per share. The business’s revenue was up 9.5% compared to the same quarter last year. Research analysts expect that American Tower Corp will post 7.66 EPS for the current year.

The company also recently declared 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 1.85%. This is a positive change from American Tower’s previous quarterly dividend of $0.92. The ex-dividend date was Thursday, September 26th. American Tower’s payout ratio is 47.56%.

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.

See Also: How a Strangle Strategy is different from a Straddle Strategy

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

Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.