American Tower Co. (NYSE:AMT) Shares Acquired by Kesler Norman & Wride LLC

Kesler Norman & Wride LLC increased its holdings in American Tower Co. (NYSE:AMTGet Rating) by 5.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 31,184 shares of the real estate investment trust’s stock after buying an additional 1,708 shares during the period. American Tower comprises approximately 1.7% of Kesler Norman & Wride LLC’s holdings, making the stock its 11th biggest position. Kesler Norman & Wride LLC’s holdings in American Tower were worth $7,834,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of AMT. Norges Bank acquired a new position in shares of American Tower in the 4th quarter valued at about $1,148,150,000. BlackRock Inc. boosted its stake in American Tower by 6.7% during the 4th quarter. BlackRock Inc. now owns 36,636,712 shares of the real estate investment trust’s stock valued at $10,716,237,000 after purchasing an additional 2,302,202 shares during the period. State Street Corp boosted its stake in American Tower by 5.1% during the 4th quarter. State Street Corp now owns 19,702,540 shares of the real estate investment trust’s stock valued at $5,789,646,000 after purchasing an additional 953,582 shares during the period. Liontrust Investment Partners LLP acquired a new position in American Tower during the 3rd quarter valued at about $240,259,000. Finally, Bank of Montreal Can boosted its stake in American Tower by 49.0% during the 4th quarter. Bank of Montreal Can now owns 1,713,723 shares of the real estate investment trust’s stock valued at $499,397,000 after purchasing an additional 563,327 shares during the period. 91.00% of the stock is owned by institutional investors and hedge funds.

In related news, Director Robert D. Hormats sold 200 shares of the business’s stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $235.40, for a total transaction of $47,080.00. Following the transaction, the director now directly owns 6,721 shares of the company’s stock, valued at $1,582,123.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Rodney M. Smith sold 25,389 shares of the business’s stock in a transaction that occurred on Thursday, April 21st. The shares were sold at an average price of $270.00, for a total transaction of $6,855,030.00. Following the transaction, the chief financial officer now directly owns 52,398 shares in the company, valued at $14,147,460. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

AMT has been the subject of a number of analyst reports. Bank of America initiated coverage on shares of American Tower in a research note on Sunday, June 5th. They set a “buy” rating and a $315.00 target price for the company. Credit Suisse Group initiated coverage on shares of American Tower in a research note on Wednesday. They set an “outperform” rating and a $313.00 target price for the company. Cowen reduced their target price on shares of American Tower from $350.00 to $325.00 in a research note on Friday, February 25th. Wells Fargo & Company boosted their target price on shares of American Tower from $250.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, March 11th. Finally, Barclays dropped their price target on shares of American Tower from €295.00 ($310.53) to €284.00 ($298.95) in a research report on Friday, March 18th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $292.21.

Shares of NYSE AMT traded up $6.86 during midday trading on Thursday, reaching $258.87. The company’s stock had a trading volume of 29,676 shares, compared to its average volume of 2,377,359. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 4.12. The company has a 50 day moving average price of $248.26 and a 200 day moving average price of $251.45. American Tower Co. has a one year low of $220.00 and a one year high of $303.72. The company has a market cap of $120.30 billion, a price-to-earnings ratio of 43.60, a price-to-earnings-growth ratio of 2.41 and a beta of 0.48.

American Tower (NYSE:AMTGet Rating) last released its earnings results on Wednesday, April 27th. The real estate investment trust reported $1.56 EPS for the quarter, missing analysts’ consensus estimates of $2.41 by ($0.85). American Tower had a return on equity of 30.44% and a net margin of 26.72%. The business had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the previous year, the firm earned $2.46 earnings per share. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. Research analysts anticipate that American Tower Co. will post 9.65 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 8th. Stockholders of record on Friday, June 17th will be issued a dividend of $1.43 per share. The ex-dividend date is Thursday, June 16th. This represents a $5.72 dividend on an annualized basis and a dividend yield of 2.21%. This is a positive change from American Tower’s previous quarterly dividend of $1.40. American Tower’s payout ratio is currently 98.96%.

American Tower Profile (Get Rating)

American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.

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

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