ORG Partners LLC Invests $384,000 in American Tower Co. (NYSE:AMT)

ORG Partners LLC purchased a new position in American Tower Co. (NYSE:AMT) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,978 shares of the real estate investment trust’s stock, valued at approximately $384,000.

Other hedge funds also recently bought and sold shares of the company. DMC Group LLC grew its stake in American Tower by 46.9% in the 2nd quarter. DMC Group LLC now owns 1,947 shares of the real estate investment trust’s stock valued at $378,000 after acquiring an additional 622 shares during the period. Great Valley Advisor Group Inc. grew its position in shares of American Tower by 12.9% in the second quarter. Great Valley Advisor Group Inc. now owns 39,475 shares of the real estate investment trust’s stock valued at $7,672,000 after purchasing an additional 4,506 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of American Tower by 12.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 279,999 shares of the real estate investment trust’s stock valued at $54,426,000 after purchasing an additional 30,844 shares during the period. Diversified Trust Co raised its position in shares of American Tower by 101.1% during the 2nd quarter. Diversified Trust Co now owns 2,848 shares of the real estate investment trust’s stock worth $554,000 after purchasing an additional 1,432 shares during the last quarter. Finally, Gemmer Asset Management LLC acquired a new position in shares of American Tower during the 2nd quarter worth about $361,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 0.2 %

NYSE:AMT traded up $0.52 on Wednesday, reaching $223.18. The company’s stock had a trading volume of 2,299,049 shares, compared to its average volume of 2,375,887. The firm has a market cap of $104.22 billion, a price-to-earnings ratio of 50.61, a price-to-earnings-growth ratio of 1.56 and a beta of 0.81. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $236.13. The stock has a 50 day moving average price of $205.70 and a 200 day moving average price of $195.29.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 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 company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period in the previous year, the company earned $2.46 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities analysts anticipate that American Tower Co. will post 10.04 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 14th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date was Friday, June 14th. American Tower’s payout ratio is 146.61%.

Analysts Set New Price Targets

Several research firms have commented on AMT. BMO Capital Markets reiterated an “outperform” rating and set a $246.00 price objective (up from $225.00) on shares of American Tower in a research note on Wednesday, July 31st. StockNews.com upgraded American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Scotiabank raised their price objective on American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 31st. TD Cowen upped their target price on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Barclays lowered their price target on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $230.77.

Insiders Place Their Bets

In related news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $232.93, for a total value of $508,020.33. Following the sale, the chief accounting officer now owns 31,873 shares in the company, valued at approximately $7,424,177.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $12,070,789.42. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $232.93, for a total transaction of $508,020.33. Following the completion of the transaction, the chief accounting officer now owns 31,873 shares of the company’s stock, valued at approximately $7,424,177.89. The disclosure for this sale can be found here. Insiders have sold 37,227 shares of company stock worth $8,497,458 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.

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.