American Tower Corp (NYSE:AMT) Shares Bought by Hartford Investment Management Co.

Hartford Investment Management Co. raised its stake in American Tower Corp (NYSE:AMT) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,876 shares of the real estate investment trust’s stock after buying an additional 563 shares during the quarter. Hartford Investment Management Co.’s holdings in American Tower were worth $11,628,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Commerzbank Aktiengesellschaft FI lifted its position in American Tower by 136.6% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 34,931 shares of the real estate investment trust’s stock valued at $7,142,000 after buying an additional 20,167 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in American Tower by 5.3% in the second quarter. Commonwealth Equity Services LLC now owns 75,512 shares of the real estate investment trust’s stock valued at $15,438,000 after buying an additional 3,774 shares during the last quarter. Stock Yards Bank & Trust Co. lifted its position in American Tower by 0.8% in the second quarter. Stock Yards Bank & Trust Co. now owns 98,498 shares of the real estate investment trust’s stock valued at $20,138,000 after buying an additional 804 shares during the last quarter. Autus Asset Management LLC lifted its position in American Tower by 45.4% in the second quarter. Autus Asset Management LLC now owns 7,391 shares of the real estate investment trust’s stock valued at $1,511,000 after buying an additional 2,309 shares during the last quarter. Finally, Meridian Wealth Management LLC lifted its position in American Tower by 56.3% in the first quarter. Meridian Wealth Management LLC now owns 4,133 shares of the real estate investment trust’s stock valued at $814,000 after buying an additional 1,488 shares during the last quarter. 94.09% of the stock is currently owned by institutional investors.

Shares of AMT opened at $214.61 on Monday. The firm has a market capitalization of $95.24 billion, a PE ratio of 26.86, a PEG ratio of 1.76 and a beta of 0.50. American Tower Corp has a 1 year low of $140.40 and a 1 year high of $218.79. The company has a debt-to-equity ratio of 4.13, a current ratio of 0.49 and a quick ratio of 0.50. The stock’s 50-day simple moving average is $209.27.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.87 by ($0.91). American Tower had a return on equity of 24.75% and a net margin of 19.30%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period in the prior year, the company posted $1.74 EPS. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities research analysts forecast that American Tower Corp will post 7.63 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Wednesday, June 19th were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.71%. This is a positive change from American Tower’s previous quarterly dividend of $0.90. The ex-dividend date was Tuesday, June 18th. American Tower’s dividend payout ratio is presently 46.06%.

In related news, CEO James D. Taiclet, Jr. sold 57,438 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $201.40, for a total transaction of $11,568,013.20. Following the sale, the chief executive officer now directly owns 255,414 shares in the company, valued at $51,440,379.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James D. Taiclet, Jr. sold 57,439 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $207.93, for a total transaction of $11,943,291.27. Following the sale, the chief executive officer now owns 255,415 shares in the company, valued at $53,108,440.95. The disclosure for this sale can be found here. Insiders have sold 177,846 shares of company stock worth $36,141,479 over the last 90 days. Insiders own 0.75% of the company’s stock.

A number of research analysts have commented on AMT shares. KeyCorp upped their target price on shares of American Tower from $207.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. They noted that the move was a valuation call. Morgan Stanley increased their price target on shares of American Tower from $185.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Monday, May 20th. JPMorgan Chase & Co. increased their price target on shares of American Tower from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Thursday. UBS Group cut shares of American Tower from a “buy” rating to a “neutral” rating and increased their price target for the stock from $195.00 to $222.00 in a research report on Friday, June 7th. Finally, Royal Bank of Canada increased their price target on shares of American Tower from $195.00 to $203.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $193.38.

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 171,000 communications sites.

Featured Story: What is a management fee?

Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corp (NYSE:AMT).

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

Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.