Machina Capital S.A.S. Makes New Investment in American Tower Corp (NYSE:AMT)

Machina Capital S.A.S. acquired a new position in American Tower Corp (NYSE:AMT) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,992 shares of the real estate investment trust’s stock, valued at approximately $612,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Canton Hathaway LLC purchased a new stake in shares of American Tower during the first quarter valued at approximately $26,000. Cable Hill Partners LLC grew its holdings in shares of American Tower by 61.9% during the first quarter. Cable Hill Partners LLC now owns 136 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 52 shares during the last quarter. Spectrum Management Group Inc. purchased a new stake in shares of American Tower during the first quarter valued at approximately $29,000. CX Institutional grew its holdings in shares of American Tower by 54.9% during the second quarter. CX Institutional now owns 158 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 56 shares during the last quarter. Finally, Certified Advisory Corp grew its holdings in shares of American Tower by 76.9% during the first quarter. Certified Advisory Corp now owns 184 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 80 shares during the last quarter. Institutional investors and hedge funds own 94.11% of the company’s stock.

A number of research firms have recently commented on AMT. KeyCorp increased their price target on shares of SBA Communications from $215.00 to $252.00 and gave the company an “overweight” rating in a report on Monday, July 15th. They noted that the move was a valuation call. UBS Group reiterated a “buy” rating on shares of Fortis in a report on Friday, June 7th. Royal Bank of Canada increased their price target on shares of Summit Industrial Income REIT from C$11.50 to C$12.50 and gave the company a “sector perform” rating in a report on Thursday, May 9th. Morgan Stanley increased their price target on shares of United Technologies from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Finally, Wells Fargo & Co increased their price target on shares of Sempra Energy from $137.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $188.44.

In other American Tower news, CEO James D. Taiclet, Jr. sold 57,439 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $207.93, for a total value of $11,943,291.27. Following the transaction, the chief executive officer now directly owns 255,415 shares in the company, valued at $53,108,440.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James D. Taiclet, Jr. sold 57,438 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $201.40, for a total transaction of $11,568,013.20. Following the completion of the transaction, the chief executive officer now owns 255,414 shares in the company, valued at $51,440,379.60. The disclosure for this sale can be found here. Insiders sold 190,614 shares of company stock worth $38,600,596 over the last quarter. Insiders own 0.75% of the company’s stock.

AMT stock traded up $3.06 on Wednesday, hitting $211.71. The company had a trading volume of 48,971 shares, compared to its average volume of 1,549,816. American Tower Corp has a 12-month low of $140.40 and a 12-month high of $218.79. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 4.31. The company has a 50-day moving average of $209.01. The company has a market capitalization of $90.43 billion, a PE ratio of 26.53, a price-to-earnings-growth ratio of 1.68 and a beta of 0.49.

American Tower (NYSE:AMT) last issued its earnings results on Wednesday, July 31st. The real estate investment trust reported $2.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.87 by $0.14. American Tower had a net margin of 17.95% and a return on equity of 22.61%. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter last year, the company posted $1.74 earnings per share. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. Analysts anticipate that American Tower Corp will post 7.52 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Wednesday, June 19th were given a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, June 18th. This is an increase from American Tower’s previous quarterly dividend of $0.90. This represents a $3.68 annualized dividend and a yield of 1.74%. American Tower’s dividend payout ratio (DPR) is presently 46.06%.

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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