Cubist Systematic Strategies LLC lifted its position in shares of American Tower Corp (NYSE:AMT) by 80.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,421 shares of the real estate investment trust’s stock after buying an additional 2,853 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in American Tower were worth $926,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of AMT. Kaizen Advisory LLC lifted its holdings in shares of American Tower by 140.6% during the second quarter. Kaizen Advisory LLC now owns 1,008 shares of the real estate investment trust’s stock worth $145,000 after buying an additional 589 shares in the last quarter. Valeo Financial Advisors LLC raised its stake in American Tower by 75.0% in the second quarter. Valeo Financial Advisors LLC now owns 1,029 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 441 shares in the last quarter. RMR Advisors LLC acquired a new position in American Tower in the second quarter valued at about $173,000. Sun Life Financial INC raised its stake in American Tower by 311.3% in the second quarter. Sun Life Financial INC now owns 1,197 shares of the real estate investment trust’s stock valued at $173,000 after purchasing an additional 906 shares in the last quarter. Finally, Fulton Bank N.A. acquired a new position in American Tower in the second quarter valued at about $203,000. 93.27% of the stock is owned by institutional investors.
AMT has been the subject of a number of analyst reports. JPMorgan Chase & Co. downgraded American Tower from an “overweight” rating to a “neutral” rating and set a $150.00 price target for the company. in a research note on Tuesday, July 10th. Zacks Investment Research downgraded American Tower from a “hold” rating to a “sell” rating in a research note on Wednesday. Morgan Stanley boosted their price target on American Tower from $154.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, August 16th. SunTrust Banks reaffirmed a “buy” rating and issued a $167.00 price target on shares of American Tower in a research note on Friday, July 20th. Finally, Raymond James downgraded American Tower from an “outperform” rating to a “market perform” rating in a research note on Monday, July 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $162.14.
NYSE AMT traded up $1.37 during trading on Friday, hitting $142.05. 2,217,751 shares of the company’s stock were exchanged, compared to its average volume of 2,190,153. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.99. The company has a market cap of $64.05 billion, a price-to-earnings ratio of 22.26, a PEG ratio of 1.55 and a beta of 0.80. American Tower Corp has a fifty-two week low of $130.37 and a fifty-two week high of $155.28.
American Tower (NYSE:AMT) last issued its earnings results on Tuesday, July 31st. The real estate investment trust reported $0.69 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.73 by ($1.04). The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.75 billion. American Tower had a return on equity of 16.72% and a net margin of 16.34%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.58 EPS. On average, sell-side analysts predict that American Tower Corp will post 7.1 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 17th. Shareholders of record on Friday, September 28th will be paid a dividend of $0.79 per share. This is an increase from American Tower’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $3.16 annualized dividend and a yield of 2.22%. American Tower’s payout ratio is presently 49.53%.
In other news, EVP Edmund Disanto sold 13,000 shares of the business’s stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $146.78, for a total transaction of $1,908,140.00. Following the sale, the executive vice president now directly owns 160,021 shares in the company, valued at $23,487,882.38. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Pamela D. A. Reeve sold 7,152 shares of the business’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $148.92, for a total value of $1,065,075.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 80,281 shares of company stock valued at $12,014,625. Insiders own 0.87% 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 approximately 170,000 communications sites.
Featured Story: How Short Selling Works
Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.