Lecap Asset Management Ltd. Makes New Investment in American Tower Co. (NYSE:AMT)

Lecap Asset Management Ltd. purchased a new stake in American Tower Co. (NYSE:AMT) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 12,686 shares of the real estate investment trust’s stock, valued at approximately $2,950,000.

Several other large investors have also recently made changes to their positions in the stock. Czech National Bank lifted its stake in American Tower by 6.9% during the third quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock worth $22,128,000 after purchasing an additional 6,163 shares in the last quarter. Kingsview Wealth Management LLC lifted its stake in American Tower by 13.8% during the 1st quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock worth $7,613,000 after acquiring an additional 4,660 shares in the last quarter. Tidal Investments LLC boosted its holdings in American Tower by 27.7% during the 1st quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock valued at $4,029,000 after acquiring an additional 4,430 shares during the period. Cetera Advisors LLC grew its position in American Tower by 29.0% in the 1st quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock valued at $8,157,000 after acquiring an additional 9,275 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in American Tower by 5.3% during the first quarter. Nordea Investment Management AB now owns 871,635 shares of the real estate investment trust’s stock worth $172,061,000 after purchasing an additional 43,531 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other American Tower news, EVP Olivier Puech sold 10,005 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total value of $2,333,866.35. Following the completion of the transaction, the executive vice president now owns 51,746 shares in the company, valued at $12,070,789.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total value of $4,953,510.00. Following the transaction, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at $14,223,890. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Olivier Puech sold 10,005 shares of the stock in a transaction 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 approximately $12,070,789.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,723 shares of company stock worth $7,795,397 in the last ninety days. 0.18% of the stock is owned by corporate insiders.

American Tower Trading Up 0.0 %

NYSE:AMT opened at $221.52 on Wednesday. American Tower Co. has a 1 year low of $157.25 and a 1 year high of $243.56. The stock has a market cap of $103.44 billion, a P/E ratio of 50.12, a P/E/G ratio of 1.03 and a beta of 0.83. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50-day simple moving average of $228.52 and a 200-day simple moving average of $207.05.

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 analysts’ consensus estimates of $2.44 by ($0.52). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period last year, the company earned $2.46 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, analysts anticipate that American Tower Co. will post 10.12 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is 146.61%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AMT shares. The Goldman Sachs Group initiated coverage on shares of American Tower in a research note on Monday, July 1st. They issued a “buy” rating and a $230.00 price objective for the company. TD Cowen raised their price target on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Barclays boosted their price target on shares of American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. BMO Capital Markets increased their price objective on American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, September 13th. Finally, Mizuho boosted their target price on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $237.92.

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.