Applied Capital LLC FL Increases Position in American Tower Co. (NYSE:AMT)

Applied Capital LLC FL raised its position in American Tower Co. (NYSE:AMT) by 27.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,392 shares of the real estate investment trust’s stock after purchasing an additional 521 shares during the quarter. Applied Capital LLC FL’s holdings in American Tower were worth $439,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC raised its position in American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 78 shares during the period. Northwest Investment Counselors LLC acquired a new position in shares of American Tower in the third quarter worth $30,000. Hara Capital LLC acquired a new position in shares of American Tower during the third quarter worth $31,000. Legacy Investment Solutions LLC acquired a new position in shares of American Tower during the third quarter worth $34,000. Finally, Activest Wealth Management grew its stake in shares of American Tower by 431.0% during the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the transaction, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

American Tower Trading Down 0.7 %

NYSE AMT opened at $185.17 on Friday. The stock has a market capitalization of $86.53 billion, a P/E ratio of 78.13, a P/E/G ratio of 1.24 and a beta of 0.84. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The firm has a 50-day moving average price of $192.08 and a 200 day moving average price of $211.04. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.56). The firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the prior year, the company earned $2.58 earnings per share. Equities research analysts expect that American Tower Co. will post 10.15 EPS for the current year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be issued a $1.62 dividend. The ex-dividend date is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.50%. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Analysts Set New Price Targets

AMT has been the subject of a number of analyst reports. BMO Capital Markets lowered their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Barclays decreased their price objective on shares of American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Mizuho reduced their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, Wells Fargo & Company reduced their target price on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus price target of $226.42.

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.