Linscomb & Williams Inc. boosted its position in shares of American Tower Co. (REIT) (NYSE:AMT) by 0.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,785 shares of the real estate investment trust’s stock after purchasing an additional 95 shares during the period. Linscomb & Williams Inc.’s holdings in American Tower were worth $3,534,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of AMT. Norges Bank bought a new position in American Tower during the 4th quarter valued at about $843,826,000. Parnassus Investments CA bought a new position in American Tower during the 1st quarter valued at about $747,531,000. Alliancebernstein L.P. grew its holdings in American Tower by 49.7% during the 1st quarter. Alliancebernstein L.P. now owns 3,160,319 shares of the real estate investment trust’s stock valued at $755,506,000 after purchasing an additional 1,049,547 shares during the last quarter. Morgan Stanley grew its holdings in American Tower by 23.9% during the 4th quarter. Morgan Stanley now owns 4,194,328 shares of the real estate investment trust’s stock valued at $941,458,000 after purchasing an additional 808,943 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in American Tower by 2.3% during the 4th quarter. BlackRock Inc. now owns 34,348,573 shares of the real estate investment trust’s stock valued at $7,709,879,000 after purchasing an additional 776,600 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.
Shares of AMT opened at $270.82 on Friday. The stock has a 50 day simple moving average of $251.11. American Tower Co. has a fifty-two week low of $197.50 and a fifty-two week high of $272.20. The stock has a market cap of $122.90 billion, a PE ratio of 62.84, a PEG ratio of 2.08 and a beta of 0.23. The company has a debt-to-equity ratio of 6.45, a current ratio of 1.13 and a quick ratio of 1.13.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 9th. Investors of record on Friday, June 18th will be paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Thursday, June 17th. This is a positive change from American Tower’s previous quarterly dividend of $1.24. American Tower’s payout ratio is 58.77%.
In related news, EVP Olivier Puech sold 3,268 shares of the business’s stock in a transaction that occurred on Tuesday, March 16th. The shares were sold at an average price of $220.00, for a total transaction of $718,960.00. Following the completion of the transaction, the executive vice president now owns 19,531 shares in the company, valued at approximately $4,296,820. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Rodney M. Smith sold 18,657 shares of the business’s stock in a transaction that occurred on Monday, May 10th. The stock was sold at an average price of $249.11, for a total transaction of $4,647,645.27. Following the transaction, the chief financial officer now owns 69,640 shares of the company’s stock, valued at approximately $17,348,020.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,734 shares of company stock valued at $15,758,862. 0.68% of the stock is currently owned by company insiders.
Several equities research analysts have issued reports on AMT shares. Royal Bank of Canada boosted their price objective on shares of American Tower from $250.00 to $280.00 and gave the company an “outperform” rating in a research report on Wednesday, May 5th. They noted that the move was a valuation call. Zacks Investment Research cut shares of American Tower from a “buy” rating to a “hold” rating and set a $227.00 price objective for the company. in a research report on Tuesday, March 2nd. Raymond James boosted their price objective on shares of American Tower from $244.00 to $261.00 and gave the company an “outperform” rating in a research report on Tuesday, May 4th. Jefferies Financial Group started coverage on shares of American Tower in a research report on Monday, April 12th. They issued a “buy” rating and a $278.00 price objective for the company. Finally, Cowen lowered their price objective on shares of American Tower from $334.00 to $324.00 and set an “outperform” rating for the company in a research report on Friday, February 26th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $276.67.
About American Tower
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 approximately 181,000 communications sites.
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