2,182 Shares in American Tower Co. (NYSE:AMT) Purchased by Sienna Gestion

Sienna Gestion acquired a new stake in shares of American Tower Co. (NYSE:AMT) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,182 shares of the real estate investment trust’s stock, valued at approximately $424,000.

Other large investors also recently modified their holdings of the company. Fortis Capital Advisors LLC acquired a new stake in shares of American Tower in the 4th quarter valued at $220,000. Accretive Wealth Partners LLC boosted its position in American Tower by 9.4% in the fourth quarter. Accretive Wealth Partners LLC now owns 4,435 shares of the real estate investment trust’s stock valued at $958,000 after buying an additional 380 shares in the last quarter. Aveo Capital Partners LLC bought a new stake in American Tower during the fourth quarter worth about $344,000. Gryphon Financial Partners LLC increased its holdings in shares of American Tower by 17.4% during the fourth quarter. Gryphon Financial Partners LLC now owns 10,950 shares of the real estate investment trust’s stock worth $2,472,000 after buying an additional 1,620 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of American Tower by 1.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 197,232 shares of the real estate investment trust’s stock valued at $426,000 after acquiring an additional 1,981 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Down 1.5 %

Shares of American Tower stock opened at $235.95 on Thursday. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $243.56. The business has a fifty day simple moving average of $223.58 and a 200 day simple moving average of $202.03. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. The stock has a market cap of $110.18 billion, a PE ratio of 53.38, a price-to-earnings-growth ratio of 1.60 and a beta of 0.83.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same period last year, the company earned $2.46 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. Research analysts predict that American Tower Co. will post 10.13 EPS for the current year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th will be issued a $1.62 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 2.75%. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wells Fargo & Company increased their price target on American Tower from $225.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group started coverage on shares of American Tower in a research report on Monday, July 1st. They set a “buy” rating and a $230.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Royal Bank of Canada upped their target price on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Finally, StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and a consensus target price of $233.29.

Insider Activity

In related news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $232.93, for a total transaction of $508,020.33. Following the sale, the chief accounting officer now owns 31,873 shares of the company’s stock, valued at approximately $7,424,177.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total value of $2,333,866.35. Following the sale, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at approximately $12,070,789.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $232.93, for a total value of $508,020.33. Following the transaction, the chief accounting officer now owns 31,873 shares of the company’s stock, valued at approximately $7,424,177.89. The disclosure for this sale can be found here. Insiders sold 33,723 shares of company stock valued at $7,795,397 in the last quarter. Company insiders own 0.18% of the company’s stock.

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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.