Middleton & Co Inc MA boosted its position in American Tower Corp (NYSE:AMT) by 2.5% in the second quarter, HoldingsChannel reports. The firm owned 69,161 shares of the real estate investment trust’s stock after purchasing an additional 1,716 shares during the quarter. American Tower comprises 1.7% of Middleton & Co Inc MA’s portfolio, making the stock its 15th biggest holding. Middleton & Co Inc MA’s holdings in American Tower were worth $9,971,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of AMT. RMR Advisors LLC acquired a new stake in shares of American Tower in the second quarter valued at about $173,000. Signaturefd LLC acquired a new stake in shares of American Tower in the first quarter valued at about $182,000. Centaurus Financial Inc. acquired a new stake in shares of American Tower in the first quarter valued at about $197,000. Fulton Bank N.A. acquired a new stake in shares of American Tower in the second quarter valued at about $203,000. Finally, Evergreen Capital Management LLC acquired a new stake in shares of American Tower in the first quarter valued at about $225,000. 92.19% of the stock is owned by institutional investors and hedge funds.
In related news, CEO James D. Taiclet, Jr. sold 43,843 shares of the company’s stock in a transaction dated Tuesday, May 29th. The stock was sold at an average price of $135.53, for a total transaction of $5,942,041.79. Following the sale, the chief executive officer now owns 223,227 shares in the company, valued at approximately $30,253,955.31. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 131,529 shares of company stock worth $18,287,354. 0.87% of the stock is owned by corporate insiders.
American Tower (NYSE:AMT) last announced its earnings results on Tuesday, May 1st. The real estate investment trust reported $0.63 EPS for the quarter, missing the consensus estimate of $1.68 by ($1.05). American Tower had a net margin of 17.51% and a return on equity of 17.03%. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the company earned $1.68 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. equities research analysts expect that American Tower Corp will post 6.97 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 13th. Investors of record on Tuesday, June 19th were given a dividend of $0.77 per share. This is a positive change from American Tower’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Monday, June 18th. This represents a $3.08 annualized dividend and a dividend yield of 2.13%. American Tower’s dividend payout ratio is presently 48.28%.
Several equities research analysts have recently weighed in on AMT shares. SunTrust Banks reissued a “buy” rating and issued a $167.00 price target on shares of American Tower in a research note on Friday, July 20th. Zacks Investment Research raised American Tower from a “sell” rating to a “hold” rating in a research note on Tuesday, April 3rd. ValuEngine cut American Tower from a “buy” rating to a “hold” rating in a research note on Friday, April 27th. Raymond James cut American Tower from an “outperform” rating to a “market perform” rating in a research note on Monday, July 9th. Finally, Guggenheim cut American Tower from a “buy” rating to a “neutral” rating and set a $135.00 price target for the company. in a research note on Monday, July 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $159.29.
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 over 160,000 communications sites. For more information about American Tower, please visit the ?Earnings Materials? and ?Company & Industry Resources? sections of our investor relations website at www.americantower.com.
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