Aries Wealth Management Increases Stock Holdings in American Tower Co. (REIT) (NYSE:AMT)

Aries Wealth Management raised its stake in American Tower Co. (REIT) (NYSE:AMT) by 44.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,300 shares of the real estate investment trust’s stock after buying an additional 713 shares during the quarter. Aries Wealth Management’s holdings in American Tower were worth $610,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dupont Capital Management Corp lifted its position in shares of American Tower by 43.0% during the second quarter. Dupont Capital Management Corp now owns 40,934 shares of the real estate investment trust’s stock worth $11,058,000 after purchasing an additional 12,316 shares in the last quarter. State of Michigan Retirement System increased its stake in American Tower by 2.5% in the second quarter. State of Michigan Retirement System now owns 114,295 shares of the real estate investment trust’s stock valued at $30,876,000 after purchasing an additional 2,800 shares during the last quarter. Lenox Wealth Advisors LLC grew its position in shares of American Tower by 160.4% during the third quarter. Lenox Wealth Advisors LLC now owns 625 shares of the real estate investment trust’s stock worth $166,000 after acquiring an additional 385 shares during the last quarter. New Mexico Educational Retirement Board grew its position in shares of American Tower by 7.8% during the second quarter. New Mexico Educational Retirement Board now owns 30,268 shares of the real estate investment trust’s stock worth $8,177,000 after acquiring an additional 2,200 shares during the last quarter. Finally, Kiwi Wealth Investments Limited Partnership purchased a new position in shares of American Tower during the second quarter worth approximately $13,719,000. 89.57% of the stock is currently owned by institutional investors.

In other news, Director Joann A. Reed sold 866 shares of American Tower stock in a transaction on Tuesday, November 16th. The stock was 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David E. Sharbutt sold 739 shares of American Tower stock in a transaction dated 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 owned by company insiders.

AMT has been the topic of a number of analyst reports. Raymond James lowered their price objective on shares of American Tower from $296.00 to $294.00 and set an “outperform” rating on the stock in a research report on Monday, November 1st. Morgan Stanley lifted their price target on American Tower from $270.00 to $316.00 and gave the company an “equal weight” rating in a report on Friday, September 10th. They noted that the move was a valuation call. Argus lifted their price target on American Tower from $288.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, August 12th. Truist Securities boosted their target price on American Tower from $280.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, July 30th. Finally, Oppenheimer lowered American Tower from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $305.00 to $300.00 in a research report on Friday, September 10th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, American Tower has a consensus rating of “Buy” and a consensus target price of $297.71.

Shares of AMT stock opened at $259.75 on Tuesday. The stock has a 50 day moving average of $275.94 and a two-hundred day moving average of $274.47. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 3.32. American Tower Co. has a 12 month low of $197.50 and a 12 month high of $303.72. The company has a market capitalization of $118.29 billion, a P/E ratio of 46.84, a P/E/G ratio of 2.18 and a beta of 0.30.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Wednesday, October 27th. The real estate investment trust reported $1.58 EPS for the quarter, missing the Zacks’ consensus estimate of $2.27 by ($0.69). American Tower had a return on equity of 39.34% and a net margin of 27.44%. The firm had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the prior year, the business posted $2.23 EPS. American Tower’s revenue was up 21.9% compared to the same quarter last year. Sell-side analysts predict that American Tower Co. will post 9.18 earnings per share for the current fiscal year.

The business also recently announced 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 represents a $5.24 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Monday, September 27th. This is an increase from American Tower’s previous quarterly dividend of $1.27. American Tower’s dividend payout ratio (DPR) is 95.27%.

About American Tower

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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