Gilman Hill Asset Management LLC Invests $5.88 Million in American Tower Co. (NYSE:AMT)

Gilman Hill Asset Management LLC bought a new stake in American Tower Co. (NYSE:AMT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 27,233 shares of the real estate investment trust's stock, valued at approximately $5,879,000. American Tower makes up approximately 1.1% of Gilman Hill Asset Management LLC's portfolio, making the stock its 29th biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in AMT. McClarren Financial Advisors Inc. purchased a new position in American Tower in the 3rd quarter valued at $27,000. Emerald Advisers LLC acquired a new position in American Tower in the 3rd quarter valued at about $29,000. Pinnacle Holdings LLC purchased a new stake in American Tower in the 1st quarter valued at about $29,000. Eagle Bay Advisors LLC purchased a new stake in American Tower in the 2nd quarter valued at about $30,000. Finally, Brown Shipley& Co Ltd purchased a new stake in shares of American Tower during the 3rd quarter worth about $35,000. Institutional investors and hedge funds own 89.29% of the company's stock.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the transaction, the chief financial officer now owns 62,969 shares of the company's stock, valued at approximately $12,953,352.99. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total transaction of $962,584.84. Following the sale, the director now owns 18,545 shares of the company's stock, valued at approximately $3,532,080.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the sale, the chief financial officer now directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. Company insiders own 0.24% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AMT shares. HSBC started coverage on American Tower in a research report on Thursday, December 14th. They set a "buy" rating and a $245.00 price target on the stock. Barclays upped their price target on American Tower from $224.00 to $234.00 and gave the company an "overweight" rating in a research report on Tuesday, March 5th. BMO Capital Markets dropped their price target on American Tower from $235.00 to $228.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 28th. StockNews.com lowered American Tower from a "buy" rating to a "hold" rating in a research report on Friday, March 1st. Finally, JPMorgan Chase & Co. dropped their price target on American Tower from $236.00 to $230.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $217.55.

American Tower Stock Down 0.7 %

American Tower stock traded down $1.43 during mid-day trading on Monday, hitting $195.91. The company's stock had a trading volume of 1,828,621 shares, compared to its average volume of 2,359,985. The firm's 50 day moving average is $198.11 and its 200 day moving average is $191.45. The company has a market cap of $91.36 billion, a PE ratio of 61.61, a price-to-earnings-growth ratio of 1.40 and a beta of 0.68. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a 52-week low of $154.58 and a 52-week high of $219.10.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($1.16). The business had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.74 billion. American Tower had a return on equity of 12.80% and a net margin of 13.31%. The firm's revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.34 earnings per share. On average, analysts anticipate that American Tower Co. will post 9.92 earnings per share for the current year.

American Tower Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Thursday, April 11th. American Tower's dividend payout ratio (DPR) is presently 213.84%.

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.

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