Dynamic Advisor Solutions LLC Has $2.95 Million Holdings in American Tower Co. (NYSE:AMT)

Dynamic Advisor Solutions LLC boosted its position in shares of American Tower Co. (NYSE:AMT) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,154 shares of the real estate investment trust’s stock after acquiring an additional 264 shares during the period. Dynamic Advisor Solutions LLC’s holdings in American Tower were worth $2,946,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of AMT. Norges Bank bought a new position in American Tower in the 4th quarter worth approximately $1,051,898,000. Wellington Management Group LLP raised its holdings in American Tower by 21.9% in the 4th quarter. Wellington Management Group LLP now owns 15,823,622 shares of the real estate investment trust’s stock valued at $3,416,004,000 after acquiring an additional 2,839,570 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of American Tower by 36.2% in the 1st quarter. Principal Financial Group Inc. now owns 8,794,776 shares of the real estate investment trust’s stock worth $1,737,760,000 after acquiring an additional 2,336,501 shares during the period. Edgewood Management LLC grew its holdings in shares of American Tower by 46.2% during the 4th quarter. Edgewood Management LLC now owns 4,985,879 shares of the real estate investment trust’s stock worth $1,076,352,000 after purchasing an additional 1,576,683 shares in the last quarter. Finally, Jennison Associates LLC increased its position in shares of American Tower by 41.0% during the fourth quarter. Jennison Associates LLC now owns 5,299,306 shares of the real estate investment trust’s stock valued at $1,144,014,000 after purchasing an additional 1,541,029 shares during the period. 92.69% of the stock is currently owned by institutional investors.

American Tower Trading Up 0.0 %

AMT stock opened at $225.59 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $236.13. The company has a market cap of $105.34 billion, a P/E ratio of 51.02, a PEG ratio of 1.56 and a beta of 0.81. The business has a fifty day moving average of $205.26 and a 200-day moving average of $195.11.

American Tower (NYSE:AMT) last released 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 business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the previous year, the company posted $2.46 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities research analysts expect that American Tower Co. will post 10.04 EPS for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 14th were paid a $1.62 dividend. The ex-dividend date was Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.87%. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

Analysts Set New Price Targets

AMT has been the topic of a number of recent research reports. Barclays decreased their price target on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Scotiabank upped their price objective on American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group began coverage on American Tower in a report on Monday, July 1st. They issued a “buy” rating and a $230.00 target price for the company. Finally, Wells Fargo & Company boosted their price target on American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $230.42.

Insiders Place Their Bets

In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value of $4,953,510.00. Following the completion of the transaction, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at $14,223,890. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the completion of the transaction, the chief executive officer now directly owns 61,843 shares in the company, valued at $14,223,890. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $232.93, for a total transaction of $508,020.33. Following the transaction, the chief accounting officer now directly owns 31,873 shares of the company’s stock, valued at $7,424,177.89. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,227 shares of company stock worth $8,497,458. Company insiders own 0.18% of the company’s stock.

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.