Premia Global Advisors LLC Takes $204,000 Position in American Tower Corp (AMT)

Premia Global Advisors LLC purchased a new stake in shares of American Tower Corp (NYSE:AMT) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 1,432 shares of the real estate investment trust’s stock, valued at approximately $204,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fieldpoint Private Securities LLC grew its position in American Tower by 69.6% during the third quarter. Fieldpoint Private Securities LLC now owns 1,060 shares of the real estate investment trust’s stock valued at $145,000 after acquiring an additional 435 shares during the last quarter. Americafirst Capital Management LLC bought a new position in American Tower during the third quarter valued at approximately $173,000. Pinebridge Investments L.P. purchased a new stake in shares of American Tower during the fourth quarter valued at approximately $182,000. SNS Financial Group LLC purchased a new stake in shares of American Tower during the fourth quarter valued at approximately $201,000. Finally, Laurel Wealth Advisors Inc. purchased a new stake in shares of American Tower during the third quarter valued at approximately $202,000. Institutional investors and hedge funds own 92.52% of the company’s stock.

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In related news, Director Samme L. Thompson sold 5,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $143.16, for a total value of $715,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William H. Hess sold 28,291 shares of the firm’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $145.28, for a total value of $4,110,116.48. Following the completion of the sale, the executive vice president now directly owns 92,721 shares of the company’s stock, valued at approximately $13,470,506.88. The disclosure for this sale can be found here. Company insiders own 0.86% of the company’s stock.

AMT has been the subject of a number of analyst reports. Morgan Stanley reissued an “overweight” rating and set a $172.00 price objective on shares of American Tower in a research note on Wednesday, December 13th. KeyCorp reissued an “overweight” rating and set a $177.00 price objective (up previously from $156.00) on shares of American Tower in a research note on Monday, November 27th. Zacks Investment Research raised American Tower from a “hold” rating to a “buy” rating and set a $160.00 price objective for the company in a research note on Tuesday, January 2nd. ValuEngine lowered American Tower from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Citigroup dropped their price objective on American Tower from $169.00 to $162.00 and set a “buy” rating for the company in a research note on Monday, March 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $157.87.

Shares of American Tower Corp (AMT) opened at $146.25 on Wednesday. American Tower Corp has a 52 week low of $113.66 and a 52 week high of $155.28. The company has a market capitalization of $63,958.66, a price-to-earnings ratio of 54.78, a P/E/G ratio of 1.63 and a beta of 0.80. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 2.85.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $1.59 EPS for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.04). American Tower had a return on equity of 17.20% and a net margin of 18.31%. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the previous year, the business earned $1.52 EPS. The business’s revenue was up 10.7% compared to the same quarter last year. analysts expect that American Tower Corp will post 7.09 EPS for the current fiscal year.

American Tower announced that its Board of Directors has approved a share repurchase program on Thursday, December 7th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Wednesday, April 11th will be paid a $0.75 dividend. This is a positive change from American Tower’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, April 10th. This represents a $3.00 dividend on an annualized basis and a yield of 2.05%. American Tower’s dividend payout ratio (DPR) is presently 104.87%.

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American Tower Profile

American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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