1,373 Shares in American Tower Co. (NYSE:AMT) Bought by Gallacher Capital Management LLC

Gallacher Capital Management LLC purchased a new stake in shares of American Tower Co. (NYSE:AMT) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,373 shares of the real estate investment trust’s stock, valued at approximately $296,000.

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

Insiders Place Their Bets

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 shares were 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 $3,532,080.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Rodney M. Smith sold 11,510 shares of the firm’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 sale, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Pamela D. A. Reeve sold 5,054 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction of $962,584.84. Following the completion of the transaction, the director now directly owns 18,545 shares in the company, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

American Tower Price Performance

Shares of NYSE AMT traded down $3.05 during trading on Monday, hitting $178.69. The company had a trading volume of 2,294,437 shares, compared to its average volume of 2,459,640. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $219.10. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.39. The stock has a fifty day simple moving average of $189.15 and a two-hundred day simple moving average of $194.80. The firm has a market capitalization of $83.33 billion, a price-to-earnings ratio of 40.35, a price-to-earnings-growth ratio of 1.43 and a beta of 0.71.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $2.79 billion. During the same quarter last year, the firm posted $2.54 earnings per share. American Tower’s quarterly revenue was up 2.4% on a year-over-year basis. On average, research analysts expect that American Tower Co. will post 9.96 earnings per share for the current year.

American Tower Cuts Dividend

The company also recently disclosed 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 yield of 3.63%. The ex-dividend date was Thursday, April 11th. American Tower’s dividend payout ratio is currently 146.61%.

Analyst Upgrades and Downgrades

AMT has been the subject of a number of recent research reports. Mizuho started coverage on American Tower in a research note on Monday, April 8th. They set a “neutral” rating and a $205.00 price objective for the company. Raymond James upgraded American Tower from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $226.00 to $248.00 in a research report on Wednesday, May 1st. BMO Capital Markets cut their target price on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Scotiabank decreased their target price on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a research note on Wednesday, May 1st. Finally, JPMorgan Chase & Co. dropped their price target on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Three investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.91.

American Tower 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.