American Tower Corp (AMT) Shares Bought by Beaumont Financial Partners LLC

Beaumont Financial Partners LLC raised its holdings in American Tower Corp (NYSE:AMT) by 7.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,485 shares of the real estate investment trust’s stock after buying an additional 386 shares during the quarter. Beaumont Financial Partners LLC’s holdings in American Tower were worth $1,081,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Reilly Financial Advisors LLC grew its holdings in shares of American Tower by 15.3% during the 1st quarter. Reilly Financial Advisors LLC now owns 406 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 54 shares in the last quarter. Webster Bank N. A. grew its holdings in shares of American Tower by 4.9% during the 1st quarter. Webster Bank N. A. now owns 1,247 shares of the real estate investment trust’s stock worth $246,000 after purchasing an additional 58 shares in the last quarter. Conning Inc. grew its holdings in shares of American Tower by 0.6% during the 1st quarter. Conning Inc. now owns 10,652 shares of the real estate investment trust’s stock worth $2,099,000 after purchasing an additional 60 shares in the last quarter. Cornerstone Advisors Inc. grew its holdings in shares of American Tower by 4.7% during the 4th quarter. Cornerstone Advisors Inc. now owns 1,413 shares of the real estate investment trust’s stock worth $224,000 after purchasing an additional 64 shares in the last quarter. Finally, FTB Advisors Inc. grew its holdings in shares of American Tower by 4.1% during the 1st quarter. FTB Advisors Inc. now owns 1,660 shares of the real estate investment trust’s stock worth $327,000 after purchasing an additional 65 shares in the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

American Tower stock opened at $200.47 on Thursday. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 4.31. The company has a market cap of $87.03 billion, a P/E ratio of 25.09, a P/E/G ratio of 1.61 and a beta of 0.66. American Tower Corp has a one year low of $134.87 and a one year high of $201.20.

American Tower (NYSE:AMT) last posted its earnings results on Friday, May 3rd. The real estate investment trust reported $1.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $0.04. American Tower had a return on equity of 22.61% and a net margin of 17.95%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the company earned $0.63 EPS. American Tower’s revenue was up 4.1% on a year-over-year basis. On average, equities research analysts forecast that American Tower Corp will post 7.51 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Thursday, April 11th were given a $0.90 dividend. This is an increase from American Tower’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Wednesday, April 10th. This represents a $3.60 annualized dividend and a yield of 1.80%. American Tower’s payout ratio is presently 45.06%.

In other American Tower news, Director Joann A. Reed sold 1,538 shares of American Tower stock in a transaction on Friday, March 1st. The stock was sold at an average price of $175.61, for a total value of $270,088.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James D. Taiclet, Jr. sold 11,863 shares of American Tower stock in a transaction on Monday, April 15th. The shares were sold at an average price of $195.88, for a total value of $2,323,724.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 171,718 shares of company stock valued at $33,175,251. Corporate insiders own 0.75% of the company’s stock.

Several brokerages have recently weighed in on AMT. KeyCorp lifted their price objective on American Tower from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, February 12th. Royal Bank of Canada raised their target price on American Tower from $195.00 to $203.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. SunTrust Banks raised their target price on American Tower to $210.00 and gave the stock a “positive” rating in a research report on Monday, May 6th. Edward Jones downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, March 13th. Finally, Macquarie restated a “buy” rating and set a $210.00 target price on shares of American Tower in a research report on Thursday, February 28th. Twelve investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. American Tower has an average rating of “Hold” and an average target price of $180.44.

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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 approximately 171,000 communications sites.

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

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