American Tower Corp (NYSE:AMT) Shares Bought by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC raised its holdings in American Tower Corp (NYSE:AMT) by 0.3% in the 1st quarter, HoldingsChannel reports. The fund owned 86,402 shares of the real estate investment trust’s stock after acquiring an additional 262 shares during the period. Mutual of America Capital Management LLC’s holdings in American Tower were worth $18,814,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Assenagon Asset Management S.A. purchased a new stake in shares of American Tower during the 4th quarter valued at $383,000. Capital Investment Advisors LLC grew its stake in shares of American Tower by 5.7% during the 4th quarter. Capital Investment Advisors LLC now owns 1,785 shares of the real estate investment trust’s stock valued at $410,000 after buying an additional 97 shares during the period. NEXT Financial Group Inc grew its stake in shares of American Tower by 14.8% during the 4th quarter. NEXT Financial Group Inc now owns 3,116 shares of the real estate investment trust’s stock valued at $717,000 after buying an additional 402 shares during the period. RFG Advisory LLC purchased a new stake in shares of American Tower during the 4th quarter valued at $290,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of American Tower by 105.6% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,278 shares of the real estate investment trust’s stock valued at $524,000 after buying an additional 1,170 shares during the period. Institutional investors own 91.73% of the company’s stock.

AMT has been the subject of several research reports. Edward Jones raised shares of American Tower from a “hold” rating to a “buy” rating in a research note on Tuesday, March 24th. New Street Research raised shares of American Tower from a “neutral” rating to a “buy” rating in a research note on Thursday, March 12th. Oppenheimer raised shares of American Tower from a “market perform” rating to an “outperform” rating and set a $270.00 price objective for the company in a research note on Friday. UBS Group raised shares of American Tower from a “neutral” rating to a “buy” rating and set a $270.00 price target for the company in a research report on Thursday, April 2nd. Finally, Raymond James raised shares of American Tower from a “market perform” rating to an “outperform” rating and set a $211.00 price target for the company in a research report on Thursday, March 26th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $257.38.

AMT stock traded up $14.27 during trading on Friday, reaching $242.43. The stock had a trading volume of 2,812,237 shares, compared to its average volume of 1,978,653. American Tower Corp has a 1-year low of $174.32 and a 1-year high of $260.43. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 6.91. The company has a market capitalization of $101.14 billion, a P/E ratio of 56.78, a PEG ratio of 1.94 and a beta of 0.44. The firm has a fifty day moving average price of $239.56 and a 200 day moving average price of $229.48.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.12). American Tower had a return on equity of 35.63% and a net margin of 24.55%. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the prior year, the firm earned $1.84 EPS. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. Sell-side analysts predict that American Tower Corp will post 8 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 19th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $4.40 dividend on an annualized basis and a yield of 1.81%. This is a positive change from American Tower’s previous quarterly dividend of $1.08. American Tower’s payout ratio is currently 55.89%.

In other news, Director David E. Sharbutt sold 2,200 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $243.60, for a total value of $535,920.00. Following the sale, the director now owns 4,097 shares in the company, valued at approximately $998,029.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Robert Joseph Meyer, Jr. sold 6,439 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $238.11, for a total transaction of $1,533,190.29. Following the completion of the sale, the chief accounting officer now owns 37,120 shares in the company, valued at approximately $8,838,643.20. The disclosure for this sale can be found here. Insiders sold a total of 14,392 shares of company stock worth $3,343,752 in the last quarter. 0.65% of the stock is currently owned by company insiders.

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.

Further Reading: How is an ETF different from a mutual fund?

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

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