American Tower Co. (NYSE:AMT) Shares Bought by Sivia Capital Partners LLC

Sivia Capital Partners LLC grew its position in shares of American Tower Co. (NYSE:AMT) by 16.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,155 shares of the real estate investment trust’s stock after acquiring an additional 164 shares during the quarter. Sivia Capital Partners LLC’s holdings in American Tower were worth $228,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Azzad Asset Management Inc. ADV acquired a new position in shares of American Tower during the first quarter valued at $1,957,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of American Tower by 8.0% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,339,721 shares of the real estate investment trust’s stock valued at $264,715,000 after acquiring an additional 98,667 shares during the period. Applied Capital LLC FL acquired a new stake in American Tower in the first quarter worth about $303,000. Farmers & Merchants Investments Inc. lifted its holdings in American Tower by 2.9% in the first quarter. Farmers & Merchants Investments Inc. now owns 2,291 shares of the real estate investment trust’s stock worth $453,000 after purchasing an additional 65 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in American Tower by 16.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 302,116 shares of the real estate investment trust’s stock worth $59,695,000 after purchasing an additional 42,797 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AMT. The Goldman Sachs Group began coverage on shares of American Tower in a report on Monday. They issued a “buy” rating and a $230.00 price objective for the company. Raymond James raised shares of American Tower from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $226.00 to $248.00 in a report on Wednesday, May 1st. BMO Capital Markets reduced their price objective on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Scotiabank reduced their price objective on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a report on Wednesday, May 1st. Finally, Barclays cut their price target on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $221.67.

Insider Activity

In other 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 owns 7,332 shares in the company, valued at approximately $1,345,422. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Sanjay Goel sold 3,504 shares of the business’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 completion of the sale, the executive vice president now 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 SEC, which is available at this link. Also, Director Robert D. Hormats sold 700 shares of the business’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 sale, the director now directly owns 7,332 shares of the company’s stock, valued at approximately $1,345,422. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

American Tower Trading Up 0.6 %

NYSE AMT traded up $1.19 on Wednesday, hitting $193.46. 533,312 shares of the company were exchanged, compared to its average volume of 2,397,929. The company’s 50 day moving average price is $189.02 and its 200-day moving average price is $194.69. The company has a debt-to-equity ratio of 3.39, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $90.34 billion, a P/E ratio of 44.03, a price-to-earnings-growth ratio of 1.39 and a beta of 0.81. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $219.10.

American Tower (NYSE:AMT) last posted its quarterly earnings data 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 company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.79 billion. American Tower had a return on equity of 18.45% and a net margin of 18.42%. American Tower’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.54 EPS. Analysts predict that American Tower Co. will post 10.03 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 14th will be issued a $1.62 dividend. 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 3.35%. American Tower’s dividend payout ratio is 146.61%.

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.