Quadrant Capital Group LLC Cuts Stock Position in American Tower Co. (NYSE:AMT)

Quadrant Capital Group LLC cut its position in shares of American Tower Co. (NYSE:AMT) by 4.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,736 shares of the real estate investment trust’s stock after selling 277 shares during the quarter. Quadrant Capital Group LLC’s holdings in American Tower were worth $1,052,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Roxbury Financial LLC purchased a new position in shares of American Tower during the fourth quarter worth approximately $32,000. Graney & King LLC bought a new position in shares of American Tower during the 4th quarter valued at $32,000. Legacy Investment Solutions LLC purchased a new position in American Tower in the 3rd quarter worth $34,000. Crowley Wealth Management Inc. bought a new stake in American Tower in the fourth quarter worth $37,000. Finally, Bank of Jackson Hole Trust purchased a new stake in American Tower during the fourth quarter valued at about $46,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.18% of the company’s stock.

American Tower Trading Down 3.4 %

AMT opened at $220.43 on Monday. 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 Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The stock has a market cap of $103.04 billion, a PE ratio of 93.01, a PEG ratio of 1.29 and a beta of 0.87. The business has a 50 day moving average of $202.22 and a 200-day moving average of $203.72.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, beating the consensus estimate of $1.79 by $0.83. The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 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 up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.29 earnings per share. Equities research analysts predict that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be paid a dividend of $1.70 per share. This is an increase from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.08%. American Tower’s dividend payout ratio (DPR) is currently 141.37%.

Wall Street Analyst Weigh In

AMT has been the topic of several analyst reports. Scotiabank lowered their target price on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research note on Thursday, January 23rd. JMP Securities began coverage on American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price objective for the company. The Goldman Sachs Group cut their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Barclays upped their price target on shares of American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Finally, Citigroup boosted their price objective on shares of American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, American Tower presently has an average rating of “Buy” and an average target price of $232.07.

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.