Pacer Advisors Inc. Has $11.88 Million Position in American Tower Corp (AMT)

Pacer Advisors Inc. increased its position in shares of American Tower Corp (NYSE:AMT) by 937.2% in the first quarter, Holdings Channel reports. The institutional investor owned 60,302 shares of the real estate investment trust’s stock after buying an additional 54,488 shares during the period. Pacer Advisors Inc.’s holdings in American Tower were worth $11,883,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of American Tower by 6.7% in the 3rd quarter. Vanguard Group Inc. now owns 56,635,438 shares of the real estate investment trust’s stock worth $8,229,130,000 after buying an additional 3,579,249 shares during the last quarter. Vanguard Group Inc lifted its stake in American Tower by 6.7% during the third quarter. Vanguard Group Inc now owns 56,635,438 shares of the real estate investment trust’s stock worth $8,229,130,000 after purchasing an additional 3,579,249 shares during the last quarter. FMR LLC lifted its stake in American Tower by 32.6% during the fourth quarter. FMR LLC now owns 20,144,710 shares of the real estate investment trust’s stock worth $3,186,692,000 after purchasing an additional 4,949,323 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in American Tower by 15,525.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,579,832 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 7,531,324 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in American Tower by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,557,968 shares of the real estate investment trust’s stock worth $1,037,413,000 after purchasing an additional 144,064 shares during the last quarter. 94.75% of the stock is owned by institutional investors and hedge funds.

In related news, CFO Thomas A. Bartlett sold 51,203 shares of the company’s stock in a transaction on Friday, January 18th. The stock was sold at an average price of $165.00, for a total transaction of $8,448,495.00. Following the transaction, the chief financial officer now owns 165,433 shares of the company’s stock, valued at $27,296,445. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William H. Hess sold 20,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $186.97, for a total value of $3,739,400.00. Following the transaction, the executive vice president now directly owns 92,231 shares in the company, valued at approximately $17,244,430.07. The disclosure for this sale can be found here. Insiders have sold 119,753 shares of company stock worth $21,218,220 in the last ninety days. 0.87% of the stock is currently owned by corporate insiders.

A number of research analysts have recently issued reports on the company. Oppenheimer reissued a “market perform” rating and issued a $173.00 target price on shares of American Tower in a report on Thursday, February 28th. They noted that the move was a valuation call. Macquarie reissued a “buy” rating and issued a $210.00 target price on shares of American Tower in a report on Thursday, February 28th. Bank of America boosted their target price on American Tower from $172.00 to $208.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Wells Fargo & Co boosted their target price on American Tower from $176.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, February 28th. Finally, CIBC reissued a “market perform” rating on shares of American Tower in a report on Thursday, February 28th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $176.88.

Shares of AMT stock opened at $196.62 on Thursday. American Tower Corp has a 1-year low of $133.53 and a 1-year high of $198.19. The firm has a market cap of $86.73 billion, a P/E ratio of 24.61, a price-to-earnings-growth ratio of 1.66 and a beta of 0.68. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 3.12.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Wednesday, February 27th. The real estate investment trust reported $0.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.25 by ($1.63). American Tower had a return on equity of 19.86% and a net margin of 16.62%. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the company earned $0.51 EPS. The company’s revenue was up 25.0% on a year-over-year basis. Equities analysts predict that American Tower Corp will post 7.53 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Thursday, April 11th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Wednesday, April 10th. This is a positive change from American Tower’s previous quarterly dividend of $0.84. American Tower’s dividend payout ratio is currently 42.05%.

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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 over 170,000 communications sites.

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

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