American Tower Co. (REIT) (NYSE:AMT) Shares Acquired by Hartline Investment Corp

Hartline Investment Corp lifted its holdings in shares of American Tower Co. (REIT) (NYSE:AMT) by 3.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,637 shares of the real estate investment trust’s stock after acquiring an additional 53 shares during the quarter. Hartline Investment Corp’s holdings in American Tower were worth $434,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Destiny Wealth Partners LLC acquired a new position in shares of American Tower during the 3rd quarter valued at $30,000. Canton Hathaway LLC acquired a new position in shares of American Tower during the 3rd quarter valued at $31,000. Harvest Fund Management Co. Ltd acquired a new position in shares of American Tower during the 2nd quarter valued at $34,000. Albion Financial Group UT acquired a new position in shares of American Tower during the 2nd quarter valued at $36,000. Finally, GeoWealth Management LLC acquired a new position in shares of American Tower during the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 89.57% of the company’s stock.

In other American Tower news, Director Joann A. Reed sold 866 shares of the company’s stock in a transaction dated 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pamela D. A. Reeve sold 3,590 shares of the company’s stock in a transaction dated Thursday, December 9th. The stock was sold at an average price of $273.02, for a total transaction of $980,141.80. The disclosure for this sale can be found here. 0.68% of the stock is owned by corporate insiders.

Shares of NYSE:AMT traded up $1.69 during trading on Friday, reaching $266.58. 2,244,354 shares of the company’s stock traded hands, compared to its average volume of 1,699,852. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.30 and a quick ratio of 1.30. American Tower Co. has a 12 month low of $197.50 and a 12 month high of $303.72. The company has a 50 day moving average of $273.37 and a 200-day moving average of $278.46. The stock has a market capitalization of $121.40 billion, a P/E ratio of 48.47, a price-to-earnings-growth ratio of 2.03 and a beta of 0.37.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 14th. Investors of record on Monday, December 27th will be given a dividend of $1.39 per share. This represents a $5.56 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Thursday, December 23rd. This is an increase from American Tower’s previous quarterly dividend of $1.31. American Tower’s dividend payout ratio is currently 101.09%.

AMT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered shares of American Tower from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $285.00 to $271.00 in a report on Wednesday. Morgan Stanley cut their price objective on shares of American Tower from $316.00 to $294.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 1st. Credit Suisse Group boosted their price objective on shares of American Tower from $324.00 to $328.00 and gave the stock an “outperform” rating in a report on Friday, October 29th. Raymond James cut their price objective on shares of American Tower from $296.00 to $294.00 and set an “outperform” rating on the stock in a report on Monday, November 1st. Finally, Wells Fargo & Company cut their price objective on shares of American Tower from $305.00 to $285.00 and set an “overweight” rating on the stock in a report on Friday, November 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, American Tower presently has a consensus rating of “Buy” and a consensus target price of $294.47.

American Tower Company 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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