Tributary Capital Management LLC Increases Stock Holdings in American Tower Co. (NYSE:AMT)

Tributary Capital Management LLC lifted its holdings in shares of American Tower Co. (NYSE:AMT) by 22.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,425 shares of the real estate investment trust’s stock after acquiring an additional 440 shares during the period. Tributary Capital Management LLC’s holdings in American Tower were worth $564,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AMT. Ameriprise Financial Inc. raised its position in shares of American Tower by 41.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock worth $1,243,333,000 after acquiring an additional 1,885,421 shares in the last quarter. Pathway Financial Advisers LLC raised its position in shares of American Tower by 23,224.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock worth $231,941,000 after acquiring an additional 993,061 shares in the last quarter. Vanguard Group Inc. raised its position in shares of American Tower by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust’s stock worth $12,248,812,000 after acquiring an additional 965,938 shares in the last quarter. M&G Plc acquired a new stake in shares of American Tower during the 1st quarter worth about $164,300,000. Finally, International Assets Investment Management LLC raised its position in shares of American Tower by 22,242.7% during the 3rd quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock worth $1,811,330,000 after acquiring an additional 775,379 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Royal Bank of Canada lifted their price target on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. BMO Capital Markets lifted their target price on American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, September 13th. StockNews.com upgraded American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company downgraded American Tower from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. Finally, TD Cowen lifted their price target on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and a consensus target price of $237.92.

Insider Buying and Selling at American Tower

In other news, EVP Olivier Puech sold 10,005 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the transaction, the executive vice president now owns 51,746 shares of the company’s stock, valued at approximately $12,070,789.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the transaction, the chief executive officer now owns 61,843 shares in the company, valued at $14,223,890. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the sale, the executive vice president now owns 51,746 shares of the company’s stock, valued at $12,070,789.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,723 shares of company stock valued at $7,795,397 in the last ninety days. Insiders own 0.18% of the company’s stock.

American Tower Trading Down 1.4 %

AMT stock opened at $222.80 on Monday. American Tower Co. has a 52 week low of $162.55 and a 52 week high of $243.56. The company has a market cap of $104.07 billion, a price-to-earnings ratio of 41.88, a PEG ratio of 1.09 and a beta of 0.83. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. The business has a fifty day simple moving average of $228.80 and a 200-day simple moving average of $207.84.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.52). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the prior year, the company posted $2.46 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities research analysts expect that American Tower Co. will post 10.08 EPS for the current year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were given a $1.62 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a yield of 2.91%. American Tower’s payout ratio is currently 121.80%.

American Tower 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 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.