Capital International Investors increased its stake in shares of American Tower Corp (NYSE:AMT) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,892,855 shares of the real estate investment trust’s stock after acquiring an additional 44,281 shares during the period. Capital International Investors owned about 1.33% of American Tower worth $1,354,296,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of AMT. Country Trust Bank boosted its holdings in American Tower by 289.3% in the fourth quarter. Country Trust Bank now owns 109 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 81 shares during the period. CXI Advisors bought a new position in American Tower in the 4th quarter valued at $27,000. TI Trust Inc. bought a new position in American Tower in the 4th quarter valued at $34,000. C M Bidwell & Associates Ltd. bought a new position in American Tower in the 4th quarter valued at $34,000. Finally, IndexIQ Advisors LLC bought a new position in American Tower in the 4th quarter valued at $35,000. 92.24% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director David E. Sharbutt sold 2,200 shares of American Tower stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $243.60, for a total transaction of $535,920.00. Following the transaction, the director now owns 4,097 shares in the company, valued at $998,029.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Olivier Puech sold 313 shares of American Tower stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $228.56, for a total value of $71,539.28. Following the transaction, the executive vice president now owns 18,723 shares in the company, valued at approximately $4,279,328.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,144 shares of company stock worth $2,332,308. Company insiders own 0.75% of the company’s stock.
AMT has been the subject of a number of analyst reports. Citigroup upgraded American Tower from a “neutral” rating to a “buy” rating and set a $280.00 price objective for the company in a research note on Thursday, March 5th. New Street Research raised American Tower from a “neutral” rating to a “buy” rating in a report on Thursday, March 12th. Edward Jones raised American Tower from a “hold” rating to a “buy” rating in a report on Tuesday. Raymond James raised American Tower from a “market perform” rating to an “outperform” rating and set a $211.00 price objective on the stock in a report on Thursday. Finally, Goldman Sachs Group raised American Tower from a “neutral” rating to a “buy” rating and increased their price objective for the company from $204.00 to $270.00 in a report on Monday, January 13th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $237.31.
American Tower stock traded up $16.97 during midday trading on Thursday, hitting $216.23. 1,372,401 shares of the company were exchanged, compared to its average volume of 3,526,621. The firm has a market capitalization of $84.27 billion, a PE ratio of 51.12, a price-to-earnings-growth ratio of 1.28 and a beta of 0.41. American Tower Corp has a fifty-two week low of $174.32 and a fifty-two week high of $258.62. The business has a fifty day simple moving average of $235.54 and a two-hundred day simple moving average of $225.48. The company has a debt-to-equity ratio of 5.03, a quick ratio of 0.52 and a current ratio of 0.52.
American Tower (NYSE:AMT) last posted its earnings results on Tuesday, February 25th. The real estate investment trust reported $1.26 EPS for the quarter, missing the consensus estimate of $1.86 by ($0.60). The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.93 billion. American Tower had a return on equity of 32.51% and a net margin of 24.90%. The firm’s revenue was down 9.8% on a year-over-year basis. During the same period last year, the business earned $0.62 earnings per share. As a group, equities analysts expect that American Tower Corp will post 8.32 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 29th. Stockholders of record on Tuesday, April 14th will be given a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Monday, April 13th. This is an increase from American Tower’s previous quarterly dividend of $1.01. American Tower’s dividend payout ratio (DPR) is 52.26%.
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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