Delta Financial Advisors LLC Buys 70 Shares of American Tower Co. (NYSE:AMT)

Delta Financial Advisors LLC lifted its stake in American Tower Co. (NYSE:AMT) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,981 shares of the real estate investment trust’s stock after purchasing an additional 70 shares during the period. Delta Financial Advisors LLC’s holdings in American Tower were worth $428,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AMT. McClarren Financial Advisors Inc. purchased a new stake in American Tower in the third quarter worth about $27,000. Emerald Advisers LLC purchased a new stake in American Tower in the third quarter worth about $29,000. Thompson Investment Management Inc. purchased a new stake in American Tower in the fourth quarter worth about $29,000. Pinnacle Holdings LLC purchased a new stake in American Tower in the first quarter worth about $29,000. Finally, Eagle Bay Advisors LLC purchased a new stake in American Tower in the second quarter worth about $30,000. 92.69% of the stock is currently owned by institutional investors.

American Tower Price Performance

Shares of NYSE:AMT traded down $0.38 during midday trading on Thursday, reaching $171.64. 977,718 shares of the company’s stock traded hands, compared to its average volume of 2,401,775. American Tower Co. has a 1 year low of $154.58 and a 1 year high of $219.10. The company has a market cap of $80.04 billion, a P/E ratio of 54.09, a PEG ratio of 1.42 and a beta of 0.67. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.69 and a current ratio of 0.69. The company has a fifty day simple moving average of $192.83 and a two-hundred day simple moving average of $193.58.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). American Tower had a net margin of 13.31% and a return on equity of 12.80%. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter last year, the business earned $2.34 EPS. The company’s quarterly revenue was up 3.0% on a year-over-year basis. Equities analysts predict that American Tower Co. will post 10.06 EPS for the current fiscal year.

American Tower Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be given a dividend of $1.62 per share. The ex-dividend date is Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.78%. American Tower’s dividend payout ratio (DPR) is 203.77%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AMT shares. JPMorgan Chase & Co. lowered their price objective on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. BMO Capital Markets decreased their price target on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. Barclays increased their price target on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, 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 research report on Monday. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $217.36.

Insider Activity

In other news, Director Pamela D. A. Reeve sold 5,054 shares of the 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 approximately $3,532,080.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction 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 owns 62,969 shares in the company, valued at approximately $12,953,352.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the transaction, the director now owns 18,545 shares in the company, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

About American Tower

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.