American Tower Co. (NYSE:AMT) Stake Lifted by Semmax Financial Advisors Inc.

Semmax Financial Advisors Inc. increased its stake in shares of American Tower Co. (NYSE:AMT) by 2,009.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 232 shares of the real estate investment trust’s stock after buying an additional 221 shares during the quarter. Semmax Financial Advisors Inc.’s holdings in American Tower were worth $43,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Northwest Investment Counselors LLC acquired a new position in American Tower during the 1st quarter worth $25,000. Gold Investment Management Ltd. acquired a new position in American Tower during the 4th quarter worth $28,000. Private Wealth Management Group LLC acquired a new position in American Tower during the 4th quarter worth $31,000. SOA Wealth Advisors LLC. acquired a new position in American Tower during the 1st quarter worth $30,000. Finally, Rational Advisors LLC acquired a new position in American Tower during the 1st quarter worth $35,000. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Up 3.0 %

NYSE:AMT traded up $6.56 during trading hours on Thursday, hitting $226.96. 2,058,176 shares of the company’s stock traded hands, compared to its average volume of 2,314,371. The firm has a market cap of $105.99 billion, a P/E ratio of 49.86, a P/E/G ratio of 1.57 and a beta of 0.81. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $229.22. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.85 and a current ratio of 0.81. The stock’s fifty day moving average price is $199.21 and its two-hundred day moving average price is $193.88.

American Tower (NYSE:AMT) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.46 earnings per share. On average, research analysts expect that American Tower Co. will post 10.04 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 14th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend was Friday, June 14th. American Tower’s payout ratio is currently 146.61%.

Insiders Place Their Bets

In other American Tower news, Director Robert D. Hormats sold 700 shares of the company’s 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 transaction, the director now directly owns 7,332 shares of the company’s stock, valued at approximately $1,345,422. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Sanjay Goel sold 3,504 shares of the firm’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 value of $702,061.44. Following the transaction, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert D. Hormats sold 700 shares of the firm’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 completion of the transaction, the director now directly owns 7,332 shares in the company, valued at $1,345,422. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AMT. Raymond James upgraded American Tower from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $226.00 to $248.00 in a research report on Wednesday, May 1st. 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 report on Wednesday. TD Cowen upped their price objective on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. upped their price objective on American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Mizuho assumed coverage on American Tower in a report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price objective for the company. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $230.38.

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.