Slow Capital Inc. Has $2.85 Million Holdings in American Tower Co. (NYSE:AMT)

Slow Capital Inc. boosted its stake in American Tower Co. (NYSE:AMT) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,145 shares of the real estate investment trust’s stock after purchasing an additional 214 shares during the period. Slow Capital Inc.’s holdings in American Tower were worth $2,846,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AMT. Scissortail Wealth Management LLC acquired a new stake in shares of American Tower in the fourth quarter valued at about $576,000. Tyche Wealth Partners LLC acquired a new stake in American Tower during the 4th quarter valued at approximately $454,000. Wealth Alliance raised its holdings in American Tower by 19.3% during the 4th quarter. Wealth Alliance now owns 4,537 shares of the real estate investment trust’s stock worth $980,000 after purchasing an additional 735 shares during the last quarter. Cookson Peirce & Co. Inc. acquired a new position in shares of American Tower in the 4th quarter worth approximately $418,000. Finally, First American Trust FSB boosted its stake in shares of American Tower by 69.0% in the 4th quarter. First American Trust FSB now owns 24,931 shares of the real estate investment trust’s stock valued at $5,382,000 after purchasing an additional 10,182 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction of $962,584.84. Following the transaction, the director now directly owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the sale, the director now owns 18,545 shares in the company, valued at approximately $3,532,080.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the transaction, the chief financial officer now owns 62,969 shares in the company, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Mizuho began coverage on American Tower in a research report on Monday, April 8th. They set a “neutral” rating and a $205.00 target price on the stock. Morgan Stanley boosted their price target on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research note on Monday. Barclays raised their price objective on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Finally, BMO Capital Markets dropped their target price on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $217.36.

American Tower Stock Down 3.3 %

NYSE AMT traded down $5.91 during mid-day trading on Wednesday, hitting $172.21. The company’s stock had a trading volume of 3,848,820 shares, compared to its average volume of 2,378,524. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.29. The company’s 50 day simple moving average is $193.26 and its 200 day simple moving average is $193.74. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $219.10. The firm has a market capitalization of $80.31 billion, a price-to-earnings ratio of 54.15, a PEG ratio of 1.24 and a beta of 0.67.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). American Tower had a net margin of 13.31% and a return on equity of 12.80%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same quarter in the prior year, the business earned $2.34 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. Analysts anticipate that American Tower Co. will post 10.05 earnings per share for the current year.

American Tower Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be given a dividend of $1.62 per share. The ex-dividend date is Thursday, April 11th. This represents a $6.48 annualized dividend and a dividend yield of 3.76%. American Tower’s payout ratio is 203.77%.

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 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.