O Shaughnessy Asset Management LLC Grows Holdings in American Tower Co. (NYSE:AMT)

O Shaughnessy Asset Management LLC boosted its holdings in shares of American Tower Co. (NYSE:AMT) by 9.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,273 shares of the real estate investment trust’s stock after acquiring an additional 3,396 shares during the period. O Shaughnessy Asset Management LLC’s holdings in American Tower were worth $7,958,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new position in shares of American Tower in the 1st quarter worth about $25,000. Gold Investment Management Ltd. purchased a new stake in shares of American Tower during the fourth quarter valued at approximately $28,000. Thompson Investment Management Inc. bought a new stake in shares of American Tower during the fourth quarter valued at approximately $29,000. Private Wealth Management Group LLC purchased a new position in American Tower in the 4th quarter worth approximately $31,000. Finally, SOA Wealth Advisors LLC. bought a new position in American Tower in the 1st quarter valued at approximately $30,000. Institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

AMT stock traded down $0.13 during mid-day trading on Wednesday, hitting $209.39. The company had a trading volume of 1,867,003 shares, compared to its average volume of 2,320,551. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.39. The company has a market capitalization of $97.78 billion, a price-to-earnings ratio of 47.78, a P/E/G ratio of 1.47 and a beta of 0.81. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $219.10. The company has a 50-day moving average price of $196.55 and a 200 day moving average price of $193.57.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.47). American Tower had a return on equity of 18.45% and a net margin of 18.42%. The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same period last year, the company earned $2.54 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. On average, research analysts anticipate that American Tower Co. will post 10.04 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 14th were issued a $1.62 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.09%. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of research analyst reports. The Goldman Sachs Group began coverage on American Tower in a report on Monday, July 1st. They set a “buy” rating and a $230.00 price target on the stock. Raymond James upgraded shares of American Tower from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $226.00 to $248.00 in a research note on Wednesday, May 1st. Scotiabank reduced their price target on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a research note on Wednesday, May 1st. Wells Fargo & Company increased their price objective on shares of American Tower from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Finally, Barclays cut their target price on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $222.92.

Insider Activity

In related news, Director Robert D. Hormats sold 700 shares of American Tower stock in a transaction dated 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 transaction, the director now owns 7,332 shares in the company, valued at $1,345,422. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Sanjay Goel sold 3,504 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction 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 legal filing with the SEC, which is available at this link. Also, Director Robert D. Hormats sold 700 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 7,332 shares of the company’s stock, valued at $1,345,422. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

About American Tower

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.