Northwestern Mutual Investment Management Company LLC Purchases 91 Shares of American Tower Corp (NYSE:AMT)

Northwestern Mutual Investment Management Company LLC boosted its position in shares of American Tower Corp (NYSE:AMT) by 0.5% in the third quarter, Holdings Channel.com reports. The firm owned 16,858 shares of the real estate investment trust’s stock after acquiring an additional 91 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in American Tower were worth $3,728,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI increased its holdings 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 purchasing an additional 20,167 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings 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 in the last quarter. Calamos Advisors LLC grew its holdings 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 in the last quarter. Stock Yards Bank & Trust Co. grew its holdings 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 in the last quarter. Finally, Autus Asset Management LLC grew its holdings 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 in the last quarter. Hedge funds and other institutional investors own 92.52% of the company’s stock.

Shares of NYSE AMT traded up $3.57 during trading on Wednesday, hitting $210.32. 1,558,514 shares of the company traded hands, compared to its average volume of 1,767,532. The business’s fifty day moving average is $219.85 and its 200 day moving average is $213.62. American Tower Corp has a fifty-two week low of $150.66 and a fifty-two week high of $242.00. The firm has a market capitalization of $91.19 billion, a price-to-earnings ratio of 26.32, a P/E/G ratio of 1.65 and a beta of 0.43. The company has a debt-to-equity ratio of 4.40, a quick ratio of 0.53 and a current ratio of 0.53.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $1.12 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.17. American Tower had a net margin of 20.58% and a return on equity of 27.12%. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the business earned $1.85 earnings per share. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, analysts predict that American Tower Corp will post 7.65 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Friday, September 27th were issued a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $3.80 annualized dividend and a dividend yield of 1.81%. This is a positive change from American Tower’s previous quarterly dividend of $0.92. American Tower’s dividend payout ratio is currently 47.56%.

Several brokerages have recently weighed in on AMT. ValuEngine cut American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research upgraded American Tower from a “hold” rating to a “buy” rating and set a $237.00 price objective for the company in a report on Tuesday, August 20th. JPMorgan Chase & Co. raised their price objective on American Tower from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Citigroup raised their price objective on American Tower from $236.00 to $240.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Finally, KeyCorp set a $242.00 price objective on American Tower and gave the company a “buy” rating in a report on Friday, November 1st. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $215.79.

In other news, SVP Robert Joseph Meyer, Jr. sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $206.78, for a total transaction of $206,780.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 sale, the director now directly owns 19,139 shares of the company’s stock, valued at $4,608,671.20. The disclosure for this sale can be found here. Insiders have sold 141,524 shares of company stock worth $31,726,127 in the last quarter. Company insiders own 0.75% of the company’s stock.

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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