MML Investors Services LLC grew its holdings in American Tower Co. (NYSE:AMT) by 8.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,944 shares of the real estate investment trust’s stock after acquiring an additional 484 shares during the period. MML Investors Services LLC’s holdings in American Tower were worth $848,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of AMT. Fieldpoint Private Securities LLC grew its holdings in American Tower by 69.6% during the 3rd quarter. Fieldpoint Private Securities LLC now owns 1,060 shares of the real estate investment trust’s stock worth $145,000 after acquiring an additional 435 shares in the last quarter. Americafirst Capital Management LLC bought a new position in shares of American Tower in the 3rd quarter worth about $173,000. Pinebridge Investments L.P. bought a new position in shares of American Tower in the 4th quarter worth about $182,000. SNS Financial Group LLC bought a new position in shares of American Tower in the 4th quarter worth about $201,000. Finally, Resources Investment Advisors Inc. lifted its position in shares of American Tower by 51.1% in the 4th quarter. Resources Investment Advisors Inc. now owns 1,428 shares of the real estate investment trust’s stock worth $203,000 after buying an additional 483 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.
NYSE AMT opened at $142.16 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 2.85. The company has a market capitalization of $63,063.74, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 1.61 and a beta of 0.78. American Tower Co. has a 12-month low of $121.57 and a 12-month high of $155.28.
American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.63 by ($0.04). American Tower had a return on equity of 17.20% and a net margin of 18.31%. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the previous year, the firm posted $1.52 earnings per share. American Tower’s quarterly revenue was up 10.7% compared to the same quarter last year. analysts anticipate that American Tower Co. will post 7.09 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Wednesday, April 11th will be given a dividend of $0.75 per share. The ex-dividend date is Tuesday, April 10th. This represents a $3.00 dividend on an annualized basis and a yield of 2.11%. This is a positive change from American Tower’s previous quarterly dividend of $0.70. American Tower’s payout ratio is 43.89%.
In other news, Director Samme L. Thompson sold 3,500 shares of the company’s stock in a transaction dated Tuesday, March 20th. The shares were sold at an average price of $146.36, for a total value of $512,260.00. Following the sale, the director now owns 22,125 shares of the company’s stock, valued at approximately $3,238,215. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP William H. Hess sold 28,291 shares of the company’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $145.28, for a total transaction of $4,110,116.48. Following the completion of the sale, the executive vice president now directly owns 92,721 shares in the company, valued at approximately $13,470,506.88. The disclosure for this sale can be found here. Insiders have sold 32,636 shares of company stock worth $4,746,448 in the last ninety days. 0.86% of the stock is currently owned by insiders.
Several analysts recently weighed in on AMT shares. Zacks Investment Research upgraded shares of American Tower from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research report on Tuesday, January 2nd. Oppenheimer lifted their price objective on shares of American Tower from $155.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, December 20th. Morgan Stanley restated an “overweight” rating and set a $172.00 price target on shares of American Tower in a research report on Wednesday, December 13th. KeyCorp set a $171.00 price target on shares of American Tower and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Finally, Citigroup dropped their price target on shares of American Tower from $169.00 to $162.00 and set a “buy” rating on the stock in a research report on Monday, March 5th. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $158.57.
TRADEMARK VIOLATION WARNING: “MML Investors Services LLC Has $848,000 Stake in American Tower Co. (NYSE:AMT)” was originally posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this report on another site, it was illegally copied and reposted in violation of United States & international copyright laws. The original version of this report can be viewed at https://www.dispatchtribunal.com/2018/04/07/american-tower-corp-amt-holdings-boosted-by-mml-investors-services-llc.html.
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 over 150,000 communications sites. For more information about American Tower, please visit the ?Earnings Materials? and ?Company & Industry Resources? sections of our investor relations website at www.americantower.com.
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.