Massmutual Trust Co. FSB ADV Grows Stock Holdings in American Tower Co. (NYSE:AMT)

Massmutual Trust Co. FSB ADV boosted its holdings in shares of American Tower Co. (NYSE:AMTFree Report) by 1.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,645 shares of the real estate investment trust’s stock after purchasing an additional 290 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in American Tower were worth $3,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of AMT. Cross Staff Investments Inc raised its stake in American Tower by 5.1% in the 4th quarter. Cross Staff Investments Inc now owns 5,027 shares of the real estate investment trust’s stock valued at $1,085,000 after purchasing an additional 244 shares during the last quarter. Anchor Capital Advisors LLC increased its holdings in American Tower by 38.1% in the 4th quarter. Anchor Capital Advisors LLC now owns 76,625 shares of the real estate investment trust’s stock valued at $16,542,000 after purchasing an additional 21,139 shares during the last quarter. Meyer Handelman Co. acquired a new position in American Tower during the 1st quarter worth about $801,000. TD Asset Management Inc grew its holdings in shares of American Tower by 23.2% in the fourth quarter. TD Asset Management Inc now owns 275,428 shares of the real estate investment trust’s stock valued at $59,459,000 after purchasing an additional 51,882 shares in the last quarter. Finally, Kingsview Wealth Management LLC raised its stake in shares of American Tower by 13.8% in the first quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock valued at $7,613,000 after acquiring an additional 4,660 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Transactions at American Tower

In other news, EVP Sanjay Goel sold 3,504 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AMT shares. TD Cowen raised their price objective on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price target on shares of American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Scotiabank raised their price objective on American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a report on Wednesday, July 31st. StockNews.com upgraded shares of American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company raised their price target on American Tower from $225.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, American Tower has an average rating of “Moderate Buy” and an average price target of $230.42.

Read Our Latest Report on AMT

American Tower Stock Performance

Shares of American Tower stock traded down $8.45 on Monday, reaching $226.19. 4,328,910 shares of the company were exchanged, compared to its average volume of 2,350,435. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $236.13. The firm has a market cap of $105.63 billion, a price-to-earnings ratio of 53.11, a P/E/G ratio of 1.65 and a beta of 0.81. 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 company’s 50-day moving average is $201.02 and its two-hundred day moving average is $194.12.

American Tower (NYSE:AMTGet Free Report) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (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 quarter in the prior year, the company earned $2.46 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, 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 declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 14th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 2.86%. The ex-dividend date was Friday, June 14th. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

American Tower Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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