Dynamic Technology Lab Private Ltd Purchases 1,852 Shares of American Tower Co. (NYSE:AMT)

Dynamic Technology Lab Private Ltd increased its position in shares of American Tower Co. (NYSE:AMTFree Report) by 109.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,550 shares of the real estate investment trust’s stock after purchasing an additional 1,852 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in American Tower were worth $766,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. McClarren Financial Advisors Inc. bought a new stake in American Tower in the third quarter valued at $27,000. Thompson Investment Management Inc. bought a new stake in American Tower in the fourth quarter valued at $29,000. Private Wealth Management Group LLC bought a new stake in American Tower in the fourth quarter valued at $31,000. Brown Shipley& Co Ltd acquired a new position in American Tower in the third quarter worth $35,000. Finally, Valley National Advisers Inc. boosted its stake 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 worth $38,000 after purchasing an additional 118 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other American Tower news, Director Robert D. Hormats sold 700 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total transaction of $128,450.00. Following the transaction, the director now owns 7,332 shares in the company, valued at approximately $1,345,422. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 17,264 shares of company stock valued at $3,458,757. Insiders own 0.18% of the company’s stock.

American Tower Stock Performance

AMT opened at $191.27 on Thursday. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $219.10. The stock has a market cap of $89.32 billion, a price-to-earnings ratio of 43.27, a PEG ratio of 1.39 and a beta of 0.71. The business has a 50 day moving average of $185.77 and a 200-day moving average of $196.15. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.39.

American Tower (NYSE:AMTGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.54 earnings per share. On average, equities 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 declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were issued a dividend of $1.62 per share. The ex-dividend date was Thursday, April 11th. This represents a $6.48 annualized dividend and a yield of 3.39%. American Tower’s payout ratio is currently 146.61%.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of recent analyst reports. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Scotiabank reduced their price objective on American Tower from $243.00 to $223.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, May 1st. BMO Capital Markets cut their price target on American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Barclays upped their price target on American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Finally, JPMorgan Chase & Co. cut their price target on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $221.91.

Read Our Latest Stock Analysis on AMT

American Tower Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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