Timber Creek Capital Management LLC Acquires 10,964 Shares of American Tower Co. (NYSE:AMT)

Timber Creek Capital Management LLC lifted its holdings in American Tower Co. (NYSE:AMT) by 142.8% in the second quarter, HoldingsChannel reports. The fund owned 18,641 shares of the real estate investment trust’s stock after buying an additional 10,964 shares during the period. Timber Creek Capital Management LLC’s holdings in American Tower were worth $3,623,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in AMT. Northwest Investment Counselors LLC bought a new position in shares of American Tower during the first quarter valued at about $25,000. Gold Investment Management Ltd. purchased a new position in American Tower in the 4th quarter worth approximately $28,000. SOA Wealth Advisors LLC. purchased a new position in American Tower in the 1st quarter worth approximately $30,000. Private Wealth Management Group LLC bought a new stake in American Tower in the fourth quarter valued at approximately $31,000. Finally, Rational Advisors LLC purchased a new stake in shares of American Tower during the first quarter valued at approximately $35,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 0.8 %

NYSE:AMT traded up $1.79 during mid-day trading on Friday, hitting $219.85. 1,986,252 shares of the company’s stock were exchanged, compared to its average volume of 2,370,238. The company has a market cap of $102.66 billion, a PE ratio of 49.74, a P/E/G ratio of 1.50 and a beta of 0.81. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. American Tower Co. has a one year low of $154.58 and a one year high of $236.13. The business has a fifty day moving average price of $207.09 and a 200 day moving average price of $195.78.

American Tower (NYSE:AMT) last issued its quarterly 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 return on equity of 23.06% and a net margin of 21.95%. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the prior year, the firm earned $2.46 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities analysts predict that American Tower Co. will post 10.04 EPS for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 14th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 2.95%. The ex-dividend date was Friday, June 14th. American Tower’s dividend payout ratio is presently 146.61%.

Insider Buying and Selling

In other American Tower news, EVP Sanjay Goel sold 3,504 shares of American Tower stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total value of $702,061.44. Following the completion of the transaction, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, 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 directly 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 Securities & Exchange Commission, which is available at this link. Also, EVP Sanjay Goel sold 3,504 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total value of $702,061.44. Following the completion of the transaction, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The disclosure for this sale can be found here. Insiders have sold a total of 37,227 shares of company stock worth $8,497,458 in the last quarter. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. The Goldman Sachs Group began coverage on shares of American Tower in a research note on Monday, July 1st. They set a “buy” rating and a $230.00 price objective for the company. Wells Fargo & Company increased their price objective on American Tower from $225.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. StockNews.com raised American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. raised their price target on American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Raymond James raised shares of American Tower from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $226.00 to $248.00 in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $231.14.

American Tower Company 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.