TrimTabs Asset Management LLC purchased a new stake in American Tower Co. (REIT) (NYSE:AMT) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,960 shares of the real estate investment trust’s stock, valued at approximately $2,139,000. American Tower comprises about 1.1% of TrimTabs Asset Management LLC’s holdings, making the stock its 15th biggest holding.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMT. RWM Asset Management LLC purchased a new stake in shares of American Tower during the 4th quarter valued at $25,000. McClarren Financial Advisors Inc. purchased a new stake in shares of American Tower during the 4th quarter valued at $26,000. ForthRight Wealth Management LLC purchased a new stake in shares of American Tower during the 4th quarter valued at $28,000. Vantage Consulting Group Inc purchased a new stake in shares of American Tower during the 4th quarter valued at $28,000. Finally, Rosenberg Matthew Hamilton purchased a new stake in shares of American Tower during the 4th quarter valued at $29,000. 89.97% of the stock is owned by institutional investors and hedge funds.
AMT has been the subject of several research reports. Raymond James cut their price target on American Tower from $258.00 to $244.00 and set an “outperform” rating for the company in a research note on Thursday, March 4th. KeyCorp upgraded American Tower from a “sector weight” rating to an “overweight” rating and set a $275.00 price target for the company in a research note on Wednesday, March 31st. Wolfe Research initiated coverage on American Tower in a research note on Thursday, March 18th. They set an “outperform” rating for the company. Credit Suisse Group cut their price target on American Tower from $307.00 to $296.00 and set an “outperform” rating for the company in a research note on Thursday, March 4th. Finally, Royal Bank of Canada cut their price target on American Tower from $275.00 to $250.00 and set an “outperform” rating for the company in a research note on Monday, March 15th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. American Tower has an average rating of “Buy” and a consensus target price of $270.55.
American Tower stock traded down $1.64 during trading hours on Thursday, reaching $243.07. The company had a trading volume of 18,701 shares, compared to its average volume of 2,344,672. The firm has a market cap of $108.02 billion, a price-to-earnings ratio of 57.85, a P/E/G ratio of 1.57 and a beta of 0.25. American Tower Co. has a 12-month low of $197.50 and a 12-month high of $272.20. The company has a 50-day moving average price of $222.85 and a 200 day moving average price of $228.80. The company has a debt-to-equity ratio of 5.73, a current ratio of 1.35 and a quick ratio of 1.35.
American Tower (NYSE:AMT) last issued its quarterly earnings data on Wednesday, February 24th. The real estate investment trust reported $0.82 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.45). The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.07 billion. American Tower had a return on equity of 42.42% and a net margin of 24.08%. American Tower’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.95 earnings per share. As a group, research analysts expect that American Tower Co. will post 8.16 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 29th. Shareholders of record on Tuesday, April 13th will be paid a dividend of $1.24 per share. This is a boost from American Tower’s previous quarterly dividend of $1.21. The ex-dividend date is Monday, April 12th. This represents a $4.96 dividend on an annualized basis and a yield of 2.04%. American Tower’s payout ratio is presently 62.61%.
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 181,000 communications sites.
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