NEXT Financial Group Inc increased its stake in shares of American Tower Corp (NYSE:AMT) by 14.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,116 shares of the real estate investment trust’s stock after purchasing an additional 402 shares during the quarter. NEXT Financial Group Inc’s holdings in American Tower were worth $717,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Arjuna Capital increased its holdings in shares of American Tower by 1.2% in the 2nd quarter. Arjuna Capital now owns 5,598 shares of the real estate investment trust’s stock worth $1,145,000 after acquiring an additional 66 shares during the period. Keudell Morrison Wealth Management acquired a new stake in shares of American Tower in the 2nd quarter worth about $1,987,000. Victory Capital Management Inc. increased its holdings in shares of American Tower by 76.7% in the 2nd quarter. Victory Capital Management Inc. now owns 14,865 shares of the real estate investment trust’s stock worth $3,039,000 after acquiring an additional 6,452 shares during the period. Peapack Gladstone Financial Corp increased its holdings in shares of American Tower by 6.2% in the 2nd quarter. Peapack Gladstone Financial Corp now owns 1,080 shares of the real estate investment trust’s stock worth $221,000 after acquiring an additional 63 shares during the period. Finally, Schroder Investment Management Group increased its holdings in shares of American Tower by 51.8% in the 2nd quarter. Schroder Investment Management Group now owns 39,887 shares of the real estate investment trust’s stock worth $8,155,000 after acquiring an additional 13,615 shares during the period. Institutional investors and hedge funds own 91.63% of the company’s stock.
In other news, EVP Olivier Puech sold 313 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $228.56, for a total transaction of $71,539.28. Following the completion of the transaction, the executive vice president now owns 18,723 shares in the company, valued at approximately $4,279,328.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Robert Joseph Meyer, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $206.78, for a total transaction of $206,780.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,574 shares of company stock valued at $1,250,626. Insiders own 0.75% of the company’s stock.
American Tower (NYSE:AMT) last released its earnings results on Thursday, October 31st. The real estate investment trust reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.17. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.88 billion. American Tower had a net margin of 20.58% and a return on equity of 27.12%. American Tower’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the company earned $1.85 EPS. Research analysts expect that American Tower Corp will post 7.64 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Friday, December 27th were paid a dividend of $1.01 per share. This is a boost from American Tower’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $4.04 annualized dividend and a yield of 1.70%. American Tower’s dividend payout ratio (DPR) is presently 50.56%.
A number of research firms recently weighed in on AMT. Morgan Stanley reaffirmed a “hold” rating and issued a $218.00 price objective (up previously from $216.00) on shares of American Tower in a report on Friday, November 22nd. Cowen raised their target price on shares of American Tower from $238.00 to $260.00 and gave the company an “in-line” rating in a research note on Friday, November 1st. KeyCorp raised their target price on shares of American Tower from $242.00 to $254.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. ValuEngine cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Goldman Sachs Group raised shares of American Tower from a “neutral” rating to a “buy” rating and raised their target price for the company from $204.00 to $270.00 in a research note on Monday, January 13th. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $224.36.
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 approximately 171,000 communications sites.
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