AE Wealth Management LLC Has $3.32 Million Stock Holdings in American Tower Co. (NYSE:AMT)

AE Wealth Management LLC lifted its holdings in shares of American Tower Co. (NYSE:AMT) by 7.5% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,102 shares of the real estate investment trust’s stock after buying an additional 1,198 shares during the period. AE Wealth Management LLC’s holdings in American Tower were worth $3,324,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. King Luther Capital Management Corp raised its stake in American Tower by 8.8% during the second quarter. King Luther Capital Management Corp now owns 217,857 shares of the real estate investment trust’s stock worth $42,347,000 after acquiring an additional 17,594 shares in the last quarter. Bridges Investment Management Inc. grew its holdings in shares of American Tower by 118.5% during the 2nd quarter. Bridges Investment Management Inc. now owns 149,209 shares of the real estate investment trust’s stock valued at $29,003,000 after purchasing an additional 80,934 shares during the last quarter. Canada Pension Plan Investment Board increased its position in American Tower by 4.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,536,255 shares of the real estate investment trust’s stock worth $298,617,000 after purchasing an additional 69,300 shares in the last quarter. Ieq Capital LLC lifted its stake in American Tower by 15.3% in the 2nd quarter. Ieq Capital LLC now owns 16,689 shares of the real estate investment trust’s stock valued at $3,244,000 after purchasing an additional 2,220 shares during the last quarter. Finally, Intech Investment Management LLC boosted its position in American Tower by 725.8% in the second quarter. Intech Investment Management LLC now owns 45,583 shares of the real estate investment trust’s stock valued at $8,860,000 after buying an additional 40,063 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the transaction, the chief executive officer now owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other American Tower news, EVP Olivier Puech sold 10,005 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the transaction, the executive vice president now owns 51,746 shares in the company, valued at $12,070,789.42. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the transaction, the chief executive officer now owns 61,843 shares of the company’s stock, valued at $14,223,890. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,723 shares of company stock worth $7,795,397. 0.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. BMO Capital Markets upped their price target on shares of American Tower from $246.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. TD Cowen increased their target price on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group started coverage on American Tower in a research note on Monday, July 1st. They set a “buy” rating and a $230.00 price target on the stock. Wells Fargo & Company upped their price objective on American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Mizuho lifted their target price on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $233.29.

American Tower Trading Up 1.2 %

AMT opened at $235.06 on Monday. The stock has a market cap of $109.77 billion, a PE ratio of 53.18, a price-to-earnings-growth ratio of 1.60 and a beta of 0.83. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $243.56. The company has a fifty day moving average of $224.57 and a 200-day moving average of $202.39.

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

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 2.76%. The ex-dividend date is Wednesday, October 9th. American Tower’s dividend payout ratio is presently 146.61%.

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.