TCG Advisory Services LLC Acquires 18,290 Shares of American Tower Co. (NYSE:AMT)

TCG Advisory Services LLC lifted its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 1,004.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,110 shares of the real estate investment trust's stock after purchasing an additional 18,290 shares during the quarter. TCG Advisory Services LLC's holdings in American Tower were worth $4,341,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of AMT. McClarren Financial Advisors Inc. acquired a new position in American Tower in the 3rd quarter valued at $27,000. Emerald Advisers LLC acquired a new stake in shares of American Tower in the third quarter valued at about $29,000. Thompson Investment Management Inc. bought a new position in shares of American Tower in the fourth quarter worth about $29,000. Brown Shipley& Co Ltd acquired a new position in shares of American Tower during the 3rd quarter worth about $35,000. Finally, Valley National Advisers Inc. grew its holdings in American Tower by 200.0% in the 4th quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust's stock valued at $38,000 after buying an additional 118 shares during the last quarter. Institutional investors own 92.69% of the company's stock.

American Tower Price Performance

Shares of AMT traded up $2.10 during mid-day trading on Friday, reaching $181.74. The company had a trading volume of 3,130,327 shares, compared to its average volume of 2,879,452. The company has a debt-to-equity ratio of 3.39, a current ratio of 0.85 and a quick ratio of 0.69. The company has a market capitalization of $84.75 billion, a P/E ratio of 41.12, a P/E/G ratio of 1.43 and a beta of 0.71. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $219.10. The company's 50-day moving average is $189.15 and its 200-day moving average is $194.80.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share for the quarter, missing analysts' consensus estimates of $2.43 by ($0.47). American Tower had a net margin of 18.42% and a return on equity of 18.45%. The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter last year, the company earned $2.54 earnings per share. The business's revenue was up 2.4% on a year-over-year basis. On average, equities analysts anticipate that American Tower Co. will post 9.96 EPS for the current year.

American Tower Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were given a $1.62 dividend. The ex-dividend date was Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a yield of 3.57%. American Tower's dividend payout ratio (DPR) is presently 146.61%.

Insiders Place Their Bets

In other news, Director Pamela D. A. Reeve sold 5,054 shares of the business's stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the transaction, the director now directly owns 18,545 shares of the company's stock, valued at approximately $3,532,080.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the firm's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the sale, the chief financial officer now owns 62,969 shares in the company, valued at approximately $12,953,352.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Pamela D. A. Reeve sold 5,054 shares of the company's 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 transaction, the director now owns 18,545 shares in the company, valued at $3,532,080.70. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Wall Street Analysts Forecast Growth

AMT has been the subject of several research reports. JPMorgan Chase & Co. reduced their price objective on American Tower from $236.00 to $230.00 and set an "overweight" rating for the company in a research report on Wednesday, February 28th. Morgan Stanley increased their price target on shares of American Tower from $183.00 to $196.00 and gave the company an "equal weight" rating in a report on Monday, April 15th. Raymond James upgraded shares of American Tower from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the stock from $226.00 to $248.00 in a report on Wednesday. Barclays increased their target price on shares of American Tower from $224.00 to $234.00 and gave the company an "overweight" rating in a research note on Tuesday, March 5th. Finally, Scotiabank lowered their price target on American Tower from $243.00 to $223.00 and set a "sector outperform" rating on the stock in a research note on Wednesday. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $221.91.

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.