Biltmore Family Office LLC purchased a new stake in shares of American Tower Co. (NYSE:AMT) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 2,718 shares of the real estate investment trust’s stock, valued at approximately $390,000.
Several other hedge funds also recently bought and sold shares of AMT. Janus Henderson Group PLC grew its stake in American Tower by 5.4% in the 3rd quarter. Janus Henderson Group PLC now owns 7,868,533 shares of the real estate investment trust’s stock worth $1,075,458,000 after acquiring an additional 400,117 shares during the period. Edgewood Management LLC grew its stake in American Tower by 1.6% in the 3rd quarter. Edgewood Management LLC now owns 6,326,717 shares of the real estate investment trust’s stock worth $864,736,000 after acquiring an additional 99,052 shares during the period. Geode Capital Management LLC grew its stake in American Tower by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 4,113,653 shares of the real estate investment trust’s stock worth $585,539,000 after acquiring an additional 136,669 shares during the period. American Century Companies Inc. grew its stake in American Tower by 1.5% in the 4th quarter. American Century Companies Inc. now owns 3,248,232 shares of the real estate investment trust’s stock worth $463,425,000 after acquiring an additional 46,708 shares during the period. Finally, Commonwealth Bank of Australia grew its stake in American Tower by 26.1% in the 3rd quarter. Commonwealth Bank of Australia now owns 2,790,646 shares of the real estate investment trust’s stock worth $380,074,000 after acquiring an additional 577,069 shares during the period. Institutional investors own 89.96% of the company’s stock.
In other American Tower 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 completion of the transaction, the director now owns 22,125 shares in the company, valued at approximately $3,238,215. The transaction was disclosed in a legal filing with the SEC, which is available 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 transaction, the executive vice president now owns 92,721 shares of the company’s stock, valued at approximately $13,470,506.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,636 shares of company stock worth $4,746,448. 0.86% of the stock is owned by company insiders.
Shares of American Tower stock traded down $1.92 during trading on Friday, reaching $142.16. The company had a trading volume of 1,527,390 shares, compared to its average volume of 2,418,001. The firm has a market cap of $63,517.82, a PE ratio of 22.28, a price-to-earnings-growth ratio of 1.62 and a beta of 0.78. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.25 and a current ratio of 1.25. American Tower Co. has a fifty-two week low of $121.57 and a fifty-two week high of $155.28.
American Tower (NYSE:AMT) last issued its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.04). The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.69 billion. American Tower had a net margin of 18.31% and a return on equity of 17.20%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.52 EPS. equities analysts predict that American Tower Co. will post 7.09 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Wednesday, April 11th will be paid a dividend of $0.75 per share. This is a positive change from American Tower’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, April 10th. This represents a $3.00 annualized dividend and a yield of 2.11%. American Tower’s dividend payout ratio is 43.89%.
AMT has been the subject of several research reports. Citigroup lowered their price objective on shares of American Tower from $162.00 to $161.00 and set a “buy” rating for the company in a research note on Tuesday, March 27th. Zacks Investment Research raised shares of American Tower from a “sell” rating to a “hold” rating in a research note on Tuesday. Morgan Stanley reissued an “overweight” rating and set a $172.00 price objective on shares of American Tower in a research note 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, Oppenheimer upped their price target on shares of American Tower from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 20th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $158.57.
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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 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.
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