Fidelis Capital Partners LLC Purchases 275 Shares of American Tower Co. (NYSE:AMT)

Fidelis Capital Partners LLC increased its position in shares of American Tower Co. (NYSE:AMT) by 7.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,740 shares of the real estate investment trust’s stock after buying an additional 275 shares during the period. Fidelis Capital Partners LLC’s holdings in American Tower were worth $693,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Balentine LLC bought a new stake in American Tower during the third quarter valued at about $586,000. Nordea Investment Management AB lifted its position in shares of American Tower by 28.5% during the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after purchasing an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in American Tower during the 3rd quarter valued at approximately $1,156,000. TigerOak Management L.L.C. bought a new position in American Tower in the 4th quarter worth approximately $1,102,000. Finally, Brookstone Capital Management increased its position in American Tower by 29.0% in the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock worth $1,629,000 after buying an additional 1,995 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on AMT. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Mizuho decreased their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Wells Fargo & Company decreased their target price on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Finally, Citigroup reduced their price objective on American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $225.21.

American Tower Stock Up 2.0 %

NYSE:AMT opened at $209.63 on Tuesday. The company has a market cap of $97.96 billion, a price-to-earnings ratio of 88.45, a P/E/G ratio of 1.29 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock’s fifty day moving average price is $187.60 and its two-hundred day moving average price is $206.52. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter last year, the business earned $2.29 earnings per share. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, analysts anticipate that American Tower Co. will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio (DPR) is currently 134.72%.

Insider Transactions at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.18% of the stock is owned by corporate insiders.

American Tower Company 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.