HM Payson & Co. boosted its position in shares of American Tower Corp (NYSE:AMT) by 0.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,506 shares of the real estate investment trust’s stock after purchasing an additional 162 shares during the period. HM Payson & Co.’s holdings in American Tower were worth $7,700,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the company. Arrow Financial Corp increased its stake in shares of American Tower by 111.7% in the 4th quarter. Arrow Financial Corp now owns 3,222 shares of the real estate investment trust’s stock valued at $740,000 after buying an additional 1,700 shares during the period. Compass Ion Advisors LLC acquired a new stake in American Tower in the fourth quarter worth about $202,000. Raymond James Trust N.A. raised its holdings in American Tower by 2.1% during the 4th quarter. Raymond James Trust N.A. now owns 7,413 shares of the real estate investment trust’s stock worth $1,704,000 after purchasing an additional 156 shares during the last quarter. Cibc Bank USA raised its holdings in American Tower by 7.8% during the 4th quarter. Cibc Bank USA now owns 3,389 shares of the real estate investment trust’s stock worth $779,000 after purchasing an additional 246 shares during the last quarter. Finally, Pictet Asset Management Ltd. lifted its position in American Tower by 3.1% during the 3rd quarter. Pictet Asset Management Ltd. now owns 222,581 shares of the real estate investment trust’s stock valued at $49,219,000 after purchasing an additional 6,700 shares during the period. Institutional investors own 92.24% of the company’s stock.
NYSE:AMT traded up $17.50 during mid-day trading on Thursday, reaching $216.76. 772,088 shares of the company’s stock were exchanged, compared to its average volume of 3,526,621. American Tower Corp has a one year low of $174.32 and a one year high of $258.62. The company has a debt-to-equity ratio of 5.03, a quick ratio of 0.52 and a current ratio of 0.52. The business’s fifty day simple moving average is $235.54 and its two-hundred day simple moving average is $225.48. The firm has a market capitalization of $84.27 billion, a PE ratio of 51.24, a price-to-earnings-growth ratio of 1.28 and a beta of 0.41.
American Tower (NYSE:AMT) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.86 by ($0.60). American Tower had a return on equity of 32.51% and a net margin of 24.90%. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same period last year, the company posted $0.62 earnings per share. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. As a group, equities research analysts forecast that American Tower Corp will post 8.32 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 29th. Investors of record on Tuesday, April 14th will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 1.99%. This is a boost from American Tower’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend is Monday, April 13th. American Tower’s dividend payout ratio (DPR) is 52.26%.
In other news, Director Samme L. Thompson sold 3,000 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $227.56, for a total value of $682,680.00. Following the completion of the transaction, the director now owns 22,598 shares of the company’s stock, valued at $5,142,400.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Olivier Puech sold 1,186 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $222.71, for a total transaction of $264,134.06. Following the completion of the sale, the executive vice president now owns 19,626 shares in the company, valued at $4,370,906.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,144 shares of company stock valued at $2,332,308. Company insiders own 0.75% of the company’s stock.
AMT has been the topic of several analyst reports. Raymond James upgraded shares of 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. KeyCorp increased their price target on shares of American Tower from $254.00 to $273.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Goldman Sachs Group upgraded American Tower from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $204.00 to $270.00 in a report on Monday, January 13th. Credit Suisse Group reaffirmed a “hold” rating and issued a $265.00 target price on shares of American Tower in a research note on Wednesday, February 26th. Finally, New Street Research raised American Tower from a “neutral” rating to a “buy” rating in a research report on Thursday, March 12th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. American Tower has a consensus rating of “Buy” and a consensus target price of $237.31.
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 approximately 171,000 communications sites.
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