American Tower Co. (NYSE:AMT) Shares Acquired by HUB Investment Partners LLC

HUB Investment Partners LLC raised its holdings in shares of American Tower Co. (NYSE:AMT) by 7.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,513 shares of the real estate investment trust’s stock after acquiring an additional 1,574 shares during the period. HUB Investment Partners LLC’s holdings in American Tower were worth $4,129,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. FMR LLC lifted its stake in shares of American Tower by 25.4% in the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after acquiring an additional 2,152,646 shares during the period. Adelante Capital Management LLC boosted its stake in American Tower by 2,723.4% during the third quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock valued at $279,890,000 after buying an additional 1,160,890 shares in the last quarter. Raymond James Financial Inc. acquired a new position in American Tower in the fourth quarter worth approximately $193,246,000. Daiwa Securities Group Inc. grew its position in American Tower by 456.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,124,633 shares of the real estate investment trust’s stock worth $206,269,000 after buying an additional 922,701 shares during the last quarter. Finally, State Street Corp grew its position in American Tower by 3.1% in the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock worth $4,924,091,000 after buying an additional 635,726 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Insiders Place Their Bets

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

American Tower Stock Down 0.5 %

American Tower stock opened at $213.83 on Thursday. The stock has a market cap of $99.95 billion, a PE ratio of 90.22, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The firm’s 50-day simple moving average is $194.43 and its 200 day simple moving average is $205.60. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.83. The firm had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.29 earnings per share. Research analysts predict that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be given a dividend of $1.70 per share. The ex-dividend date is Friday, April 11th. This represents a $6.80 annualized dividend and a dividend yield of 3.18%. This is an increase from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio (DPR) is 141.37%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AMT. Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Morgan Stanley cut their price objective on American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Wells Fargo & Company raised American Tower from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $210.00 to $230.00 in a research report on Monday. Citizens Jmp raised American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Mizuho dropped their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, American Tower currently has an average rating of “Buy” and an average target price of $228.79.

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.