S.E.E.D. Planning Group LLC Buys 5,420 Shares of American Tower Co. (NYSE:AMT)

S.E.E.D. Planning Group LLC boosted its holdings in American Tower Co. (NYSE:AMT) by 29.3% during the first quarter, Holdings Channel reports. The fund owned 23,935 shares of the real estate investment trust’s stock after purchasing an additional 5,420 shares during the period. American Tower makes up 1.7% of S.E.E.D. Planning Group LLC’s holdings, making the stock its 25th largest holding. S.E.E.D. Planning Group LLC’s holdings in American Tower were worth $4,729,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC grew its holdings in American Tower by 98.7% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 23,348 shares of the real estate investment trust’s stock valued at $3,840,000 after buying an additional 11,596 shares in the last quarter. Mather Group LLC. grew its holdings in shares of American Tower by 15.0% during the 3rd quarter. Mather Group LLC. now owns 6,383 shares of the real estate investment trust’s stock worth $1,050,000 after purchasing an additional 834 shares in the last quarter. Samalin Investment Counsel LLC grew its holdings in shares of American Tower by 16.2% during the 3rd quarter. Samalin Investment Counsel LLC now owns 1,396 shares of the real estate investment trust’s stock worth $229,000 after purchasing an additional 195 shares in the last quarter. Bank of Nova Scotia grew its holdings in shares of American Tower by 10.0% during the 3rd quarter. Bank of Nova Scotia now owns 45,590 shares of the real estate investment trust’s stock worth $7,497,000 after purchasing an additional 4,154 shares in the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. grew its holdings in shares of American Tower by 9.6% during the 3rd quarter. Van Lanschot Kempen Investment Management N.V. now owns 51,270 shares of the real estate investment trust’s stock worth $8,431,000 after purchasing an additional 4,494 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Activity at American Tower

In related 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 in the company, valued at approximately $5,692,828.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Sanjay Goel sold 3,504 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the completion of the transaction, the executive vice president now directly owns 28,413 shares in the company, valued at $5,692,828.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert D. Hormats sold 700 shares of the business’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 owns 7,332 shares of the company’s stock, valued at $1,345,422. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

American Tower Stock Performance

American Tower stock traded down $0.94 during mid-day trading on Friday, reaching $194.38. 2,393,894 shares of the company’s stock were exchanged, compared to its average volume of 2,347,319. The business’s fifty day simple moving average is $188.22 and its 200 day simple moving average is $195.14. The firm has a market capitalization of $90.77 billion, a PE ratio of 43.98, a P/E/G ratio of 1.39 and a beta of 0.79. American Tower Co. has a one year low of $154.58 and a one year high of $219.10. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.39.

American Tower (NYSE:AMT) last issued its earnings results 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). The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.54 earnings per share. On average, sell-side analysts expect that American Tower Co. will post 10.03 earnings per share for the current year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.33%. American Tower’s payout ratio is 146.61%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AMT shares. BMO Capital Markets reduced their price objective on American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Mizuho initiated coverage on American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 price objective on the stock. Raymond James upgraded American Tower from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $226.00 to $248.00 in a research report on Wednesday, May 1st. Finally, Scotiabank dropped their target price on American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a research report on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $220.91.

American Tower 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.