American Tower Corporation $AMT Stock: Lido Advisors LLC Boosts Stake

Lido Advisors LLC raised its stake in American Tower Corporation (NYSE:AMT) by 11.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 140,443 shares of the real estate investment trust’s stock after purchasing an additional 14,648 shares during the quarter. Lido Advisors LLC’s holdings in American Tower were worth $22,989,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Operose Advisors LLC bought a new stake in shares of American Tower during the 2nd quarter worth approximately $25,000. Allied Private Wealth LLC bought a new position in shares of American Tower in the second quarter valued at $29,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of American Tower in the second quarter valued at $33,000. SBI Securities Co. Ltd. bought a new position in shares of American Tower in the third quarter valued at $35,000. Finally, Kelleher Financial Advisors acquired a new position in American Tower during the second quarter worth $37,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insiders Place Their Bets

In other American Tower news, EVP Ruth Dowling sold 952 shares of American Tower stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $185.81, for a total transaction of $176,891.12. Following the completion of the transaction, the executive vice president directly owned 26,133 shares of the company’s stock, valued at $4,855,772.73. The trade was a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur acquired 2,829 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was bought at an average price of $177.00 per share, for a total transaction of $500,733.00. Following the completion of the acquisition, the director owned 7,765 shares of the company’s stock, valued at approximately $1,374,405. The trade was a 57.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on AMT. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $205.00 price target on shares of American Tower in a research report on Wednesday, October 28th. Citigroup decreased their price objective on shares of American Tower from $225.00 to $220.00 and set a “buy” rating for the company in a research report on Wednesday, October 28th. Scotiabank restated an “outperform” rating on shares of American Tower in a research note on Wednesday, July 29th. Barclays boosted their price objective on shares of American Tower from $198.00 to $199.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 30th. Finally, BMO Capital Markets upped their target price on shares of American Tower from $190.00 to $195.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and an average price target of $216.11.

American Tower Stock Performance

AMT opened at $190.29 on Thursday. American Tower Corporation has a 12-month low of $160.06 and a 12-month high of $202.50. The stock has a market cap of $88.25 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 3.43 and a beta of 0.85. The business has a 50 day moving average of $178.09 and a 200-day moving average of $177.83. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 3.30.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, October 27th. The real estate investment trust reported $1.64 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.64. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.76 billion. American Tower had a return on equity of 32.71% and a net margin of 30.10%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.78 EPS. On average, equities research analysts expect that American Tower Corporation will post 10.80 earnings per share for the current year.

American Tower declared that its Board of Directors has approved a share buyback plan on Tuesday, October 27th that authorizes the company to buy back $2 billion in outstanding shares. This repurchase authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 20th. Shareholders of record on Wednesday, September 30th were issued a dividend of $1.79 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $7.16 annualized dividend and a yield of 3.8%. American Tower’s dividend payout ratio (DPR) is currently 100.99%.

About American Tower

American Tower Corporation is a real estate investment trust that owns, operates and develops communications infrastructure. Its portfolio includes wireless and broadcast communications sites, such as towers and rooftop installations, where mobile network operators and other customers place antennas and related equipment. The company also provides services related to site acquisition, development, construction and maintenance. Through its CoreSite business, American Tower operates data centers and provides colocation and interconnection services.