Berkeley Capital Partners LLC Raises Stock Position in American Tower Corp (NYSE:AMT)

Berkeley Capital Partners LLC grew its holdings in American Tower Corp (NYSE:AMT) by 4.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,574 shares of the real estate investment trust’s stock after acquiring an additional 161 shares during the period. American Tower comprises approximately 0.6% of Berkeley Capital Partners LLC’s holdings, making the stock its 26th biggest holding. Berkeley Capital Partners LLC’s holdings in American Tower were worth $924,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Cohen & Steers Inc. increased its stake in American Tower by 10.6% during the 1st quarter. Cohen & Steers Inc. now owns 9,985,028 shares of the real estate investment trust’s stock worth $2,174,240,000 after buying an additional 953,901 shares during the period. Edgewood Management LLC increased its stake in American Tower by 1.6% during the 1st quarter. Edgewood Management LLC now owns 8,701,999 shares of the real estate investment trust’s stock worth $1,894,860,000 after buying an additional 139,173 shares during the period. Capital International Investors increased its stake in American Tower by 5.3% during the 1st quarter. Capital International Investors now owns 6,205,812 shares of the real estate investment trust’s stock worth $1,351,322,000 after buying an additional 312,957 shares during the period. Deutsche Bank AG increased its stake in American Tower by 7.3% during the 1st quarter. Deutsche Bank AG now owns 4,719,131 shares of the real estate investment trust’s stock worth $1,027,589,000 after buying an additional 322,690 shares during the period. Finally, Nuveen Asset Management LLC increased its stake in American Tower by 10.2% during the 1st quarter. Nuveen Asset Management LLC now owns 4,617,751 shares of the real estate investment trust’s stock worth $1,005,516,000 after buying an additional 426,382 shares during the period. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE AMT traded down $1.10 during midday trading on Friday, hitting $261.39. The company’s stock had a trading volume of 1,781,216 shares, compared to its average volume of 1,350,829. American Tower Corp has a 1-year low of $174.32 and a 1-year high of $272.20. The firm’s fifty day moving average price is $260.39 and its 200-day moving average price is $244.08. The company has a debt-to-equity ratio of 6.88, a quick ratio of 0.64 and a current ratio of 0.61. The firm has a market cap of $116.36 billion, a P/E ratio of 32.25, a P/E/G ratio of 2.26 and a beta of 0.45.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $1.00 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.99 by ($0.99). The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.95 billion. American Tower had a net margin of 24.70% and a return on equity of 39.62%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the firm posted $2.01 earnings per share. As a group, research analysts predict that American Tower Corp will post 7.99 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 19th were paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.68%. This is a positive change from American Tower’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend was Thursday, June 18th. American Tower’s payout ratio is presently 56.92%.

Several brokerages have weighed in on AMT. Wells Fargo & Co raised their price objective on shares of American Tower from $272.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Morgan Stanley raised their price objective on shares of American Tower from $245.00 to $250.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Deutsche Bank began coverage on shares of American Tower in a report on Friday, June 5th. They set a “buy” rating and a $287.00 price objective for the company. Credit Suisse Group reissued a “buy” rating and set a $300.00 price objective on shares of American Tower in a report on Friday. Finally, Zacks Investment Research raised shares of American Tower from a “sell” rating to a “hold” rating and set a $273.00 price objective for the company in a report on Monday, June 29th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. American Tower has a consensus rating of “Buy” and a consensus target price of $265.33.

In other American Tower news, EVP Steven O. Vondran sold 1,388 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $259.50, for a total transaction of $360,186.00. Following the completion of the transaction, the executive vice president now directly owns 24,386 shares of the company’s stock, valued at approximately $6,328,167. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Olivier Puech sold 415 shares of the business’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $266.70, for a total transaction of $110,680.50. The disclosure for this sale can be found here. Insiders have sold a total of 13,220 shares of company stock valued at $3,317,755 over the last three months. 0.65% of the stock is currently owned by company insiders.

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 approximately 171,000 communications sites.

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

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