BluePath Capital Management LLC Purchases 428 Shares of American Tower Co. (NYSE:AMT)

BluePath Capital Management LLC increased its holdings in American Tower Co. (NYSE:AMT) by 26.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,065 shares of the real estate investment trust’s stock after buying an additional 428 shares during the period. BluePath Capital Management LLC’s holdings in American Tower were worth $408,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AMT. Alera Investment Advisors LLC boosted its stake in shares of American Tower by 1.3% in the 4th quarter. Alera Investment Advisors LLC now owns 4,105 shares of the real estate investment trust’s stock valued at $886,000 after purchasing an additional 51 shares in the last quarter. Allstate Corp grew its position in American Tower by 3.1% during the 4th quarter. Allstate Corp now owns 1,750 shares of the real estate investment trust’s stock worth $378,000 after acquiring an additional 53 shares during the last quarter. Augustine Asset Management Inc. increased its stake in American Tower by 0.8% in the 4th quarter. Augustine Asset Management Inc. now owns 7,092 shares of the real estate investment trust’s stock worth $1,531,000 after purchasing an additional 56 shares during the period. McIlrath & Eck LLC boosted its stake in shares of American Tower by 13.9% during the fourth quarter. McIlrath & Eck LLC now owns 459 shares of the real estate investment trust’s stock valued at $99,000 after purchasing an additional 56 shares during the period. Finally, Glassman Wealth Services boosted its stake in shares of American Tower by 4.7% during the fourth quarter. Glassman Wealth Services now owns 1,242 shares of the real estate investment trust’s stock valued at $268,000 after purchasing an additional 56 shares during the period. Institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Mizuho initiated coverage on shares of American Tower in a research report on Monday, April 8th. They set a “neutral” rating and a $205.00 price target for the company. Morgan Stanley increased their price objective on American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. BMO Capital Markets decreased their target price on American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Raymond James upgraded shares of American Tower from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $226.00 to $248.00 in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group assumed coverage on shares of American Tower in a research note on Monday. They set a “buy” rating and a $230.00 target price on the stock. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $221.67.

Insider Buying and Selling at American Tower

In related news, Director Robert D. Hormats sold 700 shares of American Tower stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total value of $128,450.00. Following the completion of the sale, the director now owns 7,332 shares of the company’s stock, valued at $1,345,422. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Sanjay Goel sold 3,504 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total value of $702,061.44. Following the transaction, the executive vice president now owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert D. Hormats sold 700 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $183.50, for a total value of $128,450.00. Following the transaction, the director now owns 7,332 shares of the company’s stock, valued at $1,345,422. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

American Tower Stock Up 1.3 %

AMT traded up $2.52 during trading on Wednesday, hitting $194.79. 1,182,068 shares of the company’s stock traded hands, compared to its average volume of 2,403,042. The stock has a market capitalization of $90.96 billion, a price-to-earnings ratio of 44.07, a PEG ratio of 1.39 and a beta of 0.81. The company’s 50 day simple moving average is $189.02 and its two-hundred day simple moving average is $194.69. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $219.10. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.39.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.79 billion. American Tower had a return on equity of 18.45% and a net margin of 18.42%. American Tower’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $2.54 EPS. Analysts predict that American Tower Co. will post 10.03 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 14th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Friday, June 14th. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

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