American Tower Co. (REIT) (NYSE:AMT) Shares Purchased by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC raised its holdings in shares of American Tower Co. (REIT) (NYSE:AMT) by 26.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,215 shares of the real estate investment trust’s stock after buying an additional 464 shares during the quarter. Foundations Investment Advisors LLC’s holdings in American Tower were worth $586,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in American Tower by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 4,877,499 shares of the real estate investment trust’s stock valued at $1,166,015,000 after buying an additional 130,838 shares in the last quarter. Hoylecohen LLC raised its position in shares of American Tower by 1.2% during the 1st quarter. Hoylecohen LLC now owns 27,569 shares of the real estate investment trust’s stock valued at $6,591,000 after buying an additional 326 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of American Tower in the 1st quarter valued at $7,172,000. Visionary Wealth Advisors raised its holdings in American Tower by 37.3% in the 1st quarter. Visionary Wealth Advisors now owns 1,898 shares of the real estate investment trust’s stock valued at $454,000 after buying an additional 516 shares during the period. Finally, Baker Tilly Wealth Management LLC acquired a new stake in shares of American Tower during the first quarter valued at about $547,000. Hedge funds and other institutional investors own 89.57% of the company’s stock.

Several analysts have recently issued reports on the stock. Argus increased their price target on shares of American Tower from $288.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, August 12th. Truist boosted their target price on American Tower from $280.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, July 30th. KeyCorp lifted their price objective on American Tower from $302.00 to $311.00 and gave the company an “overweight” rating in a research note on Friday, October 29th. Raymond James decreased their price target on shares of American Tower from $296.00 to $294.00 and set an “outperform” rating for the company in a research note on Monday, November 1st. Finally, Credit Suisse Group boosted their target price on shares of American Tower from $324.00 to $328.00 and gave the stock an “outperform” rating in a research note on Friday, October 29th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $297.71.

NYSE AMT opened at $257.63 on Tuesday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 3.32. The business’s 50 day moving average is $275.94 and its two-hundred day moving average is $274.47. The stock has a market capitalization of $117.33 billion, a price-to-earnings ratio of 46.84, a PEG ratio of 2.18 and a beta of 0.30. American Tower Co. has a 12-month low of $197.50 and a 12-month high of $303.72.

American Tower (NYSE:AMT) last issued its earnings results on Wednesday, October 27th. The real estate investment trust reported $1.58 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.69). The company had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.41 billion. American Tower had a return on equity of 39.34% and a net margin of 27.44%. American Tower’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.23 earnings per share. Equities analysts forecast that American Tower Co. will post 9.18 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 15th. Investors of record on Tuesday, September 28th were given a dividend of $1.31 per share. This is an increase from American Tower’s previous quarterly dividend of $1.27. This represents a $5.24 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Monday, September 27th. American Tower’s payout ratio is currently 95.27%.

In related news, Director Joann A. Reed sold 866 shares of the firm’s stock in a transaction that occurred on Tuesday, November 16th. The shares were sold at an average price of $260.50, for a total value of $225,593.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David E. Sharbutt sold 739 shares of the company’s stock in a transaction on Friday, September 3rd. The stock was sold at an average price of $300.71, for a total value of $222,224.69. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.

American Tower Profile

American Tower Corp. provides real estate investment services, and owns, operates, and develops multitenant communications real estate properties. It operates through the following segments: U.S. & Canada, Asia-Pacific, Europe, Africa Latin America, and Services. The Asia-Pacific segment refers to the operations in Australia and India.

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

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