Capital Advisors Ltd. LLC Grows Stake in American Tower Co. (NYSE:AMT)

Capital Advisors Ltd. LLC grew its holdings in American Tower Co. (NYSE:AMT) by 7.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,452 shares of the real estate investment trust’s stock after acquiring an additional 97 shares during the quarter. Capital Advisors Ltd. LLC’s holdings in American Tower were worth $313,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Alera Investment Advisors LLC boosted its holdings in shares of American Tower by 1.3% during the fourth quarter. Alera Investment Advisors LLC now owns 4,105 shares of the real estate investment trust’s stock worth $886,000 after purchasing an additional 51 shares during the last quarter. First Business Financial Services Inc. boosted its holdings in shares of American Tower by 1.3% during the third quarter. First Business Financial Services Inc. now owns 4,290 shares of the real estate investment trust’s stock worth $705,000 after purchasing an additional 55 shares during the last quarter. Northcape Wealth Management LLC boosted its holdings in American Tower by 0.5% in the third quarter. Northcape Wealth Management LLC now owns 10,521 shares of the real estate investment trust’s stock valued at $1,730,000 after acquiring an additional 56 shares during the last quarter. Augustine Asset Management Inc. boosted its holdings in American Tower by 0.8% in the fourth quarter. Augustine Asset Management Inc. now owns 7,092 shares of the real estate investment trust’s stock valued at $1,531,000 after acquiring an additional 56 shares during the last quarter. Finally, Teamwork Financial Advisors LLC boosted its holdings in American Tower by 2.8% in the third quarter. Teamwork Financial Advisors LLC now owns 2,139 shares of the real estate investment trust’s stock valued at $352,000 after acquiring an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Transactions at American Tower

In other news, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total transaction of $962,584.84. Following the sale, the director now directly owns 18,545 shares in the company, valued at approximately $3,532,080.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Rodney M. Smith sold 11,510 shares of the 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 directly owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AMT. Barclays lifted their target price on American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Morgan Stanley boosted their price objective on American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Mizuho began coverage on American Tower in a research note on Monday, April 8th. They set a “neutral” rating and a $205.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their price objective 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. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and an average price target of $217.36.

American Tower Stock Down 0.3 %

American Tower stock traded down $0.54 during midday trading on Thursday, hitting $172.81. The stock had a trading volume of 684,098 shares, compared to its average volume of 2,416,012. 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 stock has a market cap of $80.59 billion, a P/E ratio of 54.51, a P/E/G ratio of 1.38 and a beta of 0.67. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10. The business has a fifty day moving average price of $190.93 and a 200 day moving average price of $194.05.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.74 billion. American Tower had a return on equity of 12.80% and a net margin of 13.31%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.34 earnings per share. Research analysts predict that American Tower Co. will post 9.94 EPS for the current year.

American Tower Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend is Thursday, April 11th. American Tower’s payout ratio is 203.77%.

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