American Tower Co. (NYSE:AMT) Shares Acquired by Savant Capital LLC

Savant Capital LLC increased its stake in shares of American Tower Co. (NYSE:AMT) by 2.8% in the 4th quarter, Holdings Channel reports. The firm owned 4,750 shares of the real estate investment trust’s stock after purchasing an additional 128 shares during the period. Savant Capital LLC’s holdings in American Tower were worth $1,025,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thompson Investment Management Inc. acquired a new position in shares of American Tower during the fourth quarter valued at approximately $29,000. McClarren Financial Advisors Inc. purchased a new position in American Tower in the 3rd quarter valued at $27,000. Emerald Advisers LLC acquired a new stake in American Tower during the 3rd quarter worth $29,000. Valley National Advisers Inc. lifted its stake in shares of 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 worth $38,000 after buying an additional 118 shares in the last quarter. Finally, Oakworth Capital Inc. boosted its position in American Tower by 157.9% during the fourth quarter. Oakworth Capital Inc. now owns 196 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 120 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Trading Up 1.2 %

AMT opened at $181.76 on Friday. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $219.10. The company has a quick ratio of 0.69, a current ratio of 0.85 and a debt-to-equity ratio of 3.39. The business has a fifty day simple moving average of $189.32 and a 200-day simple moving average of $194.30. The firm has a market cap of $84.76 billion, a P/E ratio of 41.12, a P/E/G ratio of 1.42 and a beta of 0.71.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The business’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.54 earnings per share. On average, equities analysts expect that American Tower Co. will post 9.96 earnings per share for the current year.

American Tower Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AMT. Barclays raised their target price on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. BMO Capital Markets cut their target price on American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. decreased their target price on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Finally, Scotiabank cut their price target on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $221.91.

Insider Transactions at American Tower

In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the transaction, the chief financial officer now owns 62,969 shares in the company, valued at $12,953,352.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Pamela D. A. Reeve sold 5,054 shares of American Tower 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 $3,532,080.70. The disclosure for this sale can be found here. Corporate insiders own 0.18% 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.