NYSE:AMT - Free Report ) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,808,113 shares of the real estate investment trust's stock after acquiring an additional 122,265 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.03% of American Tower worth $1,037,975,000 as of its most recent SEC filing.
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A number of other hedge funds have also bought and sold shares of the business. Concord Wealth Partners increased its stake in American Tower by 15.8% during the 3rd quarter. Concord Wealth Partners now owns 3,424 shares of the real estate investment trust's stock worth $563,000 after acquiring an additional 466 shares during the period. Lindbrook Capital LLC increased its position in shares of American Tower by 5.0% in the third quarter. Lindbrook Capital LLC now owns 2,266 shares of the real estate investment trust's stock worth $373,000 after purchasing an additional 108 shares during the period. Verdence Capital Advisors LLC raised its stake in American Tower by 18.4% in the third quarter. Verdence Capital Advisors LLC now owns 2,063 shares of the real estate investment trust's stock valued at $339,000 after purchasing an additional 320 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in American Tower by 4.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 248,002 shares of the real estate investment trust's stock worth $40,784,000 after purchasing an additional 9,704 shares during the period. Finally, BluePath Capital Management LLC acquired a new stake in American Tower during the third quarter worth about $178,000. 92.69% of the stock is owned by institutional investors.
American Tower Trading Up 0.0 % Shares of American Tower stock traded up $0.05 during midday trading on Wednesday, reaching $181.33. The company had a trading volume of 1,971,396 shares, compared to its average volume of 2,463,047. The firm has a market cap of $84.56 billion, a PE ratio of 41.02, a P/E/G ratio of 1.43 and a beta of 0.71. The stock has a fifty day moving average price of $188.86 and a 200 day moving average price of $195.09. The company has a debt-to-equity ratio of 3.39, a current ratio of 0.85 and a quick ratio of 0.85. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $219.10.
American Tower (NYSE:AMT - Get Free Report ) last posted its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS 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 firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same period in the prior year, the company posted $2.54 earnings per share. The company's revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities analysts anticipate that American Tower Co. will post 9.96 earnings per share for the current year.
American Tower Cuts Dividend The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend was Thursday, April 11th. American Tower's dividend payout ratio (DPR) is presently 146.61%.
Insider Activity at American Tower In other American Tower 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 value of $962,584.84. Following the completion of the sale, the director now directly owns 18,545 shares in the company, valued at $3,532,080.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website . In other news, Director Pamela D. A. Reeve sold 5,054 shares of the firm's stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the sale, the director now directly owns 18,545 shares in the company, valued at approximately $3,532,080.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link . Also, CFO Rodney M. Smith sold 11,510 shares of the company's 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 transaction, the chief financial officer now directly owns 62,969 shares in the company, valued at $12,953,352.99. The disclosure for this sale can be found here . Insiders have sold a total of 17,264 shares of company stock worth $3,458,757 in the last 90 days. Corporate insiders own 0.18% of the company's stock.
Analyst Upgrades and Downgrades A number of analysts have recently weighed in on the stock. Barclays upped their price target on shares of American Tower from $224.00 to $234.00 and gave the stock an "overweight" rating in a report on Tuesday, March 5th. BMO Capital Markets reduced their price objective on American Tower from $228.00 to $220.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 1st. Mizuho began coverage on shares of American Tower in a report on Monday, April 8th. They issued a "neutral" rating and a $205.00 target price for the company. Scotiabank cut their price objective on American Tower from $243.00 to $223.00 and set a "sector outperform" rating on the stock in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. lowered their target price on American Tower from $236.00 to $230.00 and set an "overweight" rating for the company in a report on Wednesday, February 28th. Three research 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 company. Based on data from MarketBeat, American Tower presently has a consensus rating of "Moderate Buy" and an average target price of $221.91.
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About American Tower (
Free Report )
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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