Motley Fool Asset Management LLC Raises Stock Holdings in American Tower Corporation $AMT

Motley Fool Asset Management LLC raised its position in American Tower Corporation (NYSE:AMT) by 2.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 78,577 shares of the real estate investment trust’s stock after buying an additional 1,674 shares during the quarter. American Tower makes up approximately 0.8% of Motley Fool Asset Management LLC’s portfolio, making the stock its 24th biggest position. Motley Fool Asset Management LLC’s holdings in American Tower were worth $17,367,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Conscious Wealth Investments LLC lifted its stake in American Tower by 0.6% in the second quarter. Conscious Wealth Investments LLC now owns 11,792 shares of the real estate investment trust’s stock valued at $2,533,000 after buying an additional 70 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in shares of American Tower by 15.0% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 7,262 shares of the real estate investment trust’s stock valued at $1,605,000 after purchasing an additional 948 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of American Tower by 19.3% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 75,484 shares of the real estate investment trust’s stock valued at $16,683,000 after purchasing an additional 12,200 shares during the period. CCLA Investment Management increased its holdings in shares of American Tower by 4.0% in the second quarter. CCLA Investment Management now owns 422,462 shares of the real estate investment trust’s stock valued at $93,326,000 after purchasing an additional 16,089 shares during the period. Finally, Solstein Capital LLC increased its holdings in shares of American Tower by 6.4% in the second quarter. Solstein Capital LLC now owns 1,125 shares of the real estate investment trust’s stock valued at $249,000 after purchasing an additional 68 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Trading Down 1.1%

Shares of AMT stock opened at $189.35 on Tuesday. The business’s fifty day moving average price is $195.03 and its 200 day moving average price is $208.94. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $234.33. The firm has a market capitalization of $88.66 billion, a PE ratio of 68.86, a P/E/G ratio of 1.16 and a beta of 0.86. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the prior year, the company posted $2.79 earnings per share. American Tower’s quarterly revenue was down 9.4% on a year-over-year basis. As a group, sell-side analysts forecast that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th were issued a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.6%. American Tower’s dividend payout ratio is 247.27%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AMT. JPMorgan Chase & Co. boosted their target price on American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Raymond James Financial set a $250.00 target price on American Tower and gave the company a “strong-buy” rating in a report on Wednesday, July 30th. Royal Bank Of Canada set a $220.00 target price on American Tower and gave the company a “sector perform” rating in a report on Wednesday, October 1st. HSBC lowered American Tower from a “buy” rating to a “hold” rating and set a $235.00 target price on the stock. in a report on Wednesday, July 30th. Finally, BMO Capital Markets dropped their price objective on American Tower from $245.00 to $220.00 and set an “outperform” rating on the stock in a report on Friday, October 17th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $236.75.

Insiders Place Their Bets

In other American Tower news, CEO Juan Font sold 720 shares of the company’s stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value of $149,997.60. Following the sale, the chief executive officer owned 23,425 shares of the company’s stock, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

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