AlphaCrest Capital Management LLC acquired a new position in American Tower Corp (NYSE:AMT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,429 shares of the real estate investment trust’s stock, valued at approximately $226,000.
A number of other institutional investors have also recently bought and sold shares of AMT. Cambridge Investment Research Advisors Inc. raised its position in American Tower by 3.1% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 28,170 shares of the real estate investment trust’s stock valued at $4,093,000 after purchasing an additional 855 shares in the last quarter. HL Financial Services LLC increased its holdings in shares of American Tower by 140.9% in the third quarter. HL Financial Services LLC now owns 3,984 shares of the real estate investment trust’s stock worth $579,000 after buying an additional 2,330 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of American Tower by 7.3% in the third quarter. Janney Montgomery Scott LLC now owns 61,390 shares of the real estate investment trust’s stock worth $8,920,000 after buying an additional 4,171 shares during the period. Commonwealth Equity Services LLC increased its holdings in American Tower by 3.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 67,847 shares of the real estate investment trust’s stock valued at $9,858,000 after purchasing an additional 2,500 shares during the period. Finally, Gamble Jones Investment Counsel boosted its position in shares of American Tower by 4.8% in the 3rd quarter. Gamble Jones Investment Counsel now owns 28,830 shares of the real estate investment trust’s stock worth $4,189,000 after purchasing an additional 1,310 shares in the last quarter. 93.05% of the stock is currently owned by institutional investors.
AMT opened at $181.61 on Friday. American Tower Corp has a 52 week low of $133.53 and a 52 week high of $182.97. The stock has a market cap of $80.00 billion, a price-to-earnings ratio of 24.98, a P/E/G ratio of 1.63 and a beta of 0.65. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 3.11.
American Tower (NYSE:AMT) last released its quarterly earnings data on Wednesday, February 27th. The real estate investment trust reported $0.62 EPS for the quarter, missing the consensus estimate of $2.25 by ($1.63). American Tower had a net margin of 17.07% and a return on equity of 18.55%. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the company earned $0.51 EPS. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. On average, sell-side analysts forecast that American Tower Corp will post 7.59 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Thursday, April 11th will be issued a $0.90 dividend. This is an increase from American Tower’s previous quarterly dividend of $0.84. The ex-dividend date is Wednesday, April 10th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.98%.
In related news, Director Samme L. Thompson sold 2,000 shares of the stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $157.11, for a total value of $314,220.00. Following the completion of the transaction, the director now owns 20,625 shares of the company’s stock, valued at approximately $3,240,393.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Joann A. Reed sold 1,538 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $175.61, for a total transaction of $270,088.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,084 shares of company stock valued at $11,256,682. 0.87% of the stock is owned by insiders.
A number of analysts have recently commented on AMT shares. Macquarie reissued a “buy” rating and issued a $210.00 price target on shares of American Tower in a research report on Thursday, February 28th. Morgan Stanley cut American Tower from an “overweight” rating to an “equal weight” rating and set a $170.00 price objective on the stock. in a research report on Wednesday, December 12th. Oppenheimer cut American Tower from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 28th. CIBC reaffirmed a “market perform” rating on shares of American Tower in a research report on Thursday, February 28th. Finally, Citigroup boosted their target price on shares of American Tower from $176.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. American Tower has a consensus rating of “Buy” and an average target price of $173.69.
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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 170,000 communications sites.
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