Telemus Capital LLC Boosts Stock Position in American Tower Co. (NYSE:AMT)

Telemus Capital LLC boosted its holdings in American Tower Co. (NYSE:AMT) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,325 shares of the real estate investment trust’s stock after purchasing an additional 1,253 shares during the period. Telemus Capital LLC’s holdings in American Tower were worth $8,705,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of AMT. Gateway Investment Advisers LLC lifted its position in shares of American Tower by 57.7% during the 4th quarter. Gateway Investment Advisers LLC now owns 35,751 shares of the real estate investment trust’s stock valued at $7,718,000 after buying an additional 13,074 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of American Tower by 0.5% during the 3rd quarter. Victory Capital Management Inc. now owns 177,288 shares of the real estate investment trust’s stock valued at $29,155,000 after purchasing an additional 806 shares during the period. PDS Planning Inc raised its stake in shares of American Tower by 16.1% during the 3rd quarter. PDS Planning Inc now owns 1,821 shares of the real estate investment trust’s stock valued at $299,000 after purchasing an additional 253 shares during the period. FAS Wealth Partners Inc. bought a new stake in shares of American Tower during the 4th quarter valued at $2,001,000. Finally, DNB Asset Management AS increased its stake in American Tower by 23.0% in the 4th quarter. DNB Asset Management AS now owns 159,805 shares of the real estate investment trust’s stock worth $34,499,000 after acquiring an additional 29,848 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. decreased their target price on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. Barclays upped their target price on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Mizuho assumed coverage on American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price on the stock. BMO Capital Markets decreased their target price on American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Finally, Morgan Stanley increased their price objective on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.36.

Insider Activity

In related news, CFO Rodney M. Smith sold 11,510 shares of the firm’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 transaction of $2,367,722.10. Following the completion of the transaction, the chief financial officer now owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 stock was 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 of the company’s stock, valued at approximately $3,532,080.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction 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 sale, the chief financial officer now directly owns 62,969 shares of the company’s stock, 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 company insiders.

American Tower Trading Up 0.6 %

Shares of AMT stock opened at $172.31 on Tuesday. The stock has a market capitalization of $80.36 billion, a PE ratio of 54.19, a P/E/G ratio of 1.35 and a beta of 0.67. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10. The business has a 50-day moving average of $191.52 and a 200 day moving average of $194.09. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($1.16). The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.74 billion. American Tower had a return on equity of 12.80% and a net margin of 13.31%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.34 EPS. As a group, sell-side analysts anticipate that American Tower Co. will post 9.94 earnings per share for the current year.

American Tower Cuts Dividend

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

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