Compass Ion Advisors LLC acquired a new stake in shares of American Tower Corp (NYSE:AMT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 879 shares of the real estate investment trust’s stock, valued at approximately $202,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMT. Nuveen Asset Management LLC grew its position in American Tower by 16,153.9% during the second quarter. Nuveen Asset Management LLC now owns 3,848,439 shares of the real estate investment trust’s stock valued at $786,813,000 after buying an additional 3,824,762 shares during the period. Millennium Management LLC grew its position in American Tower by 110.5% during the third quarter. Millennium Management LLC now owns 281,711 shares of the real estate investment trust’s stock valued at $62,294,000 after buying an additional 2,953,111 shares during the period. BlackRock Inc. grew its position in American Tower by 4.0% during the second quarter. BlackRock Inc. now owns 31,549,686 shares of the real estate investment trust’s stock valued at $6,450,332,000 after buying an additional 1,213,664 shares during the period. Zimmer Partners LP grew its position in American Tower by 108.9% during the third quarter. Zimmer Partners LP now owns 1,159,600 shares of the real estate investment trust’s stock valued at $256,422,000 after buying an additional 604,600 shares during the period. Finally, California Public Employees Retirement System grew its position in American Tower by 19.1% during the second quarter. California Public Employees Retirement System now owns 2,061,930 shares of the real estate investment trust’s stock valued at $421,562,000 after buying an additional 331,035 shares during the period. 91.63% of the stock is owned by hedge funds and other institutional investors.
Shares of AMT traded up $1.17 during mid-day trading on Friday, reaching $233.41. The stock had a trading volume of 469,751 shares, compared to its average volume of 1,490,800. The firm has a market cap of $103.63 billion, a price-to-earnings ratio of 29.21, a PEG ratio of 1.51 and a beta of 0.41. American Tower Corp has a 12 month low of $163.06 and a 12 month high of $242.00. The business has a fifty day moving average of $222.21 and a 200 day moving average of $218.97. The company has a debt-to-equity ratio of 4.40, a quick ratio of 0.53 and a current ratio of 0.53.
American Tower (NYSE:AMT) last posted its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.17. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.88 billion. American Tower had a net margin of 20.58% and a return on equity of 27.12%. The company’s revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.85 earnings per share. On average, research analysts forecast that American Tower Corp will post 7.64 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Friday, December 27th were given a $1.01 dividend. This is a positive change from American Tower’s previous quarterly dividend of $0.95. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Thursday, December 26th. American Tower’s dividend payout ratio is presently 50.56%.
In related news, EVP Olivier Puech sold 313 shares of the company’s stock in a transaction on 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 $4,279,328.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Samme L. Thompson sold 3,000 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $227.56, for a total transaction of $682,680.00. Following the transaction, the director now owns 22,598 shares of the company’s stock, valued at approximately $5,142,400.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,574 shares of company stock valued at $1,250,626. Company insiders own 0.75% of the company’s stock.
AMT has been the subject of several recent research reports. Cowen boosted 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 report on Friday, November 1st. ValuEngine lowered shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Morgan Stanley restated a “hold” rating and set a $218.00 target price (up from $216.00) on shares of American Tower in a research report on Friday, November 22nd. Goldman Sachs Group upgraded shares of American Tower from a “neutral” rating to a “buy” rating and boosted their target price for the company from $204.00 to $270.00 in a research report on Monday. Finally, KeyCorp boosted their target price on shares of American Tower from $242.00 to $254.00 and gave the company an “overweight” rating in a research report on Friday, January 10th. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. American Tower has a consensus rating of “Hold” and a consensus target price of $224.36.
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 approximately 171,000 communications sites.
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