Ingalls & Snyder LLC decreased its stake in shares of American Tower Corp (NYSE:AMT) by 1.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,862 shares of the real estate investment trust’s stock after selling 130 shares during the quarter. Ingalls & Snyder LLC’s holdings in American Tower were worth $2,037,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of AMT. Arjuna Capital increased its stake in American Tower by 1.2% during the 2nd quarter. Arjuna Capital now owns 5,598 shares of the real estate investment trust’s stock valued at $1,145,000 after purchasing an additional 66 shares in the last quarter. Keudell Morrison Wealth Management acquired a new position in American Tower during the 2nd quarter valued at approximately $1,987,000. NumerixS Investment Technologies Inc acquired a new position in American Tower during the 2nd quarter valued at approximately $82,000. Johnson Investment Counsel Inc. boosted its holdings in shares of American Tower by 5.4% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 7,896 shares of the real estate investment trust’s stock valued at $1,614,000 after acquiring an additional 401 shares during the last quarter. Finally, Private Advisor Group LLC boosted its holdings in shares of American Tower by 18.8% in the 2nd quarter. Private Advisor Group LLC now owns 28,111 shares of the real estate investment trust’s stock valued at $5,747,000 after acquiring an additional 4,441 shares during the last quarter. Institutional investors and hedge funds own 91.63% of the company’s stock.
In other news, SVP Robert Joseph Meyer, Jr. sold 1,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $206.78, for a total value of $206,780.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steven O. Vondran sold 1,261 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $229.68, for a total transaction of $289,626.48. Following the completion of the sale, the executive vice president now owns 28,705 shares of the company’s stock, valued at $6,592,964.40. The disclosure for this sale can be found here. Insiders have sold 5,574 shares of company stock valued at $1,250,626 over the last 90 days. 0.75% of the stock is currently owned by company insiders.
Several analysts have recently commented on the stock. ValuEngine downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. KeyCorp increased their price target on shares of American Tower from $242.00 to $254.00 and gave the stock an “overweight” rating in a report on Friday, January 10th. Cowen increased their price target on shares of American Tower from $238.00 to $260.00 and gave the stock an “in-line” rating in a report on Friday, November 1st. Morgan Stanley reissued a “hold” rating and set a $218.00 price target (up from $216.00) on shares of American Tower in a report on Friday, November 22nd. Finally, Goldman Sachs Group raised shares of American Tower from a “neutral” rating to a “buy” rating and increased their price target for the stock from $204.00 to $270.00 in a report on Monday. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $224.36.
Shares of NYSE AMT opened at $235.38 on Thursday. The company has a debt-to-equity ratio of 4.40, a quick ratio of 0.53 and a current ratio of 0.53. The company’s fifty day moving average price is $221.85 and its 200 day moving average price is $218.83. The company has a market capitalization of $103.63 billion, a PE ratio of 29.46, a price-to-earnings-growth ratio of 1.51 and a beta of 0.41. American Tower Corp has a 1 year low of $162.83 and a 1 year high of $242.00.
American Tower (NYSE:AMT) last posted its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.17. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.88 billion. American Tower had a net margin of 20.58% and a return on equity of 27.12%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.85 earnings per share. On average, equities analysts expect that American Tower Corp will post 7.64 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Friday, December 27th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Thursday, December 26th. This is a boost from American Tower’s previous quarterly dividend of $0.95. This represents a $4.04 dividend on an annualized basis and a yield of 1.72%. American Tower’s dividend payout ratio is currently 50.56%.
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 approximately 171,000 communications sites.
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