American Tower Co. (NYSE:AMT) Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC grew its holdings in shares of American Tower Co. (NYSE:AMT) by 1,674.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 137,330 shares of the real estate investment trust’s stock after purchasing an additional 129,589 shares during the period. Los Angeles Capital Management LLC’s holdings in American Tower were worth $29,647,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

AMT has been the topic of several recent research reports. Mizuho began coverage on American Tower in a research report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price target on the stock. Morgan Stanley boosted 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. Scotiabank dropped their price objective on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating on the stock in a report on Wednesday. BMO Capital Markets cut their price target on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Raymond James raised American Tower from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $226.00 to $248.00 in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and a consensus target price of $221.91.

American Tower Stock Performance

Shares of American Tower stock traded up $2.10 on Friday, hitting $181.74. The stock had a trading volume of 3,130,327 shares, compared to its average volume of 2,879,452. The stock has a market cap of $84.75 billion, a price-to-earnings ratio of 41.12, a price-to-earnings-growth ratio of 1.42 and a beta of 0.71. The business’s 50 day moving average is $189.32 and its two-hundred day moving average is $194.30. The company has a quick ratio of 0.69, a current ratio of 0.85 and a debt-to-equity ratio of 3.39. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $219.10.

American Tower (NYSE:AMT) last posted its 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 return on equity of 18.45% and a net margin of 18.42%. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same period in the prior year, the business posted $2.54 EPS. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. Analysts forecast that American Tower Co. will post 9.96 EPS for the current year.

American Tower Cuts Dividend

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

Insider Buying and Selling

In other news, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction 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 directly owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the business’s 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 completion of the transaction, the chief financial officer now owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 of the company’s stock, valued at $3,532,080.70. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

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.