Mather Group LLC. Has $1.29 Million Stock Position in American Tower Co. (NYSE:AMT)

Mather Group LLC. boosted its stake in American Tower Co. (NYSE:AMT) by 11.7% in the second quarter, HoldingsChannel.com reports. The firm owned 6,524 shares of the real estate investment trust’s stock after buying an additional 681 shares during the period. Mather Group LLC.’s holdings in American Tower were worth $1,289,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Allworth Financial LP boosted its holdings in American Tower by 7.8% in the fourth quarter. Allworth Financial LP now owns 6,728 shares of the real estate investment trust’s stock valued at $1,452,000 after acquiring an additional 484 shares during the last quarter. CENTRAL TRUST Co boosted its stake in shares of American Tower by 45.6% in the 4th quarter. CENTRAL TRUST Co now owns 8,834 shares of the real estate investment trust’s stock valued at $1,907,000 after purchasing an additional 2,766 shares during the last quarter. Grimes & Company Inc. bought a new position in American Tower during the fourth quarter worth $207,000. Stratos Wealth Partners LTD. lifted its holdings in American Tower by 1.9% in the fourth quarter. Stratos Wealth Partners LTD. now owns 24,497 shares of the real estate investment trust’s stock valued at $5,288,000 after buying an additional 453 shares during the period. Finally, Sabal Trust CO bought a new stake in American Tower during the fourth quarter valued at $216,000. 92.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AMT shares. TD Cowen lifted their price objective on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group initiated coverage on shares of American Tower in a research note on Monday, July 1st. They issued a “buy” rating and a $230.00 price target for the company. JPMorgan Chase & Co. boosted their target price on American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $246.00 price target (up previously from $225.00) on shares of American Tower in a report on Wednesday, July 31st. Two equities 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $230.42.

American Tower Stock Up 0.4 %

NYSE:AMT traded up $0.97 during trading hours on Wednesday, hitting $229.13. 682,092 shares of the company traded hands, compared to its average volume of 2,342,958. The company has a quick ratio of 0.85, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. The company has a market cap of $107.00 billion, a PE ratio of 51.62, a PEG ratio of 1.65 and a beta of 0.81. The firm’s 50-day simple moving average is $202.68 and its 200-day simple moving average is $194.45. American Tower Co. has a one year low of $154.58 and a one year high of $236.13.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share 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 firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the previous year, the business earned $2.46 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities analysts predict that American Tower Co. will post 10.04 earnings per share for the current year.

American Tower Dividend Announcement

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. This represents a $6.48 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Friday, June 14th. American Tower’s dividend payout ratio is presently 146.61%.

Insider Activity at American Tower

In other American Tower news, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total value of $2,333,866.35. Following the transaction, the executive vice president now owns 51,746 shares of the company’s stock, valued at $12,070,789.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other American Tower news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $233.27, for a total value of $2,333,866.35. Following the sale, the executive vice president now owns 51,746 shares of the company’s stock, valued at $12,070,789.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction that occurred on 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 directly 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 three months, insiders sold 37,227 shares of company stock valued at $8,497,458. 0.18% of the stock is owned by insiders.

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.