Obermeyer Wood Investment Counsel Lllp Acquires Shares of 1,149 American Tower Co. (NYSE:AMT)

Obermeyer Wood Investment Counsel Lllp acquired a new stake in shares of American Tower Co. (NYSE:AMT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,149 shares of the real estate investment trust’s stock, valued at approximately $248,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMT. Personal Capital Advisors Corp grew its stake in shares of American Tower by 1.7% during the first quarter. Personal Capital Advisors Corp now owns 2,510 shares of the real estate investment trust’s stock valued at $631,000 after buying an additional 43 shares during the last quarter. Lumature Wealth Partners LLC grew its stake in shares of American Tower by 40.3% during the first quarter. Lumature Wealth Partners LLC now owns 174 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 50 shares during the last quarter. Alera Investment Advisors LLC grew its stake in shares of American Tower by 1.3% during the fourth quarter. Alera Investment Advisors LLC now owns 4,105 shares of the real estate investment trust’s stock valued at $886,000 after buying an additional 51 shares during the last quarter. McIlrath & Eck LLC grew its stake in shares of American Tower by 18.5% during the fourth quarter. McIlrath & Eck LLC now owns 333 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 52 shares during the last quarter. Finally, Golden State Equity Partners grew its stake in shares of American Tower by 7.0% during the first quarter. Golden State Equity Partners now owns 806 shares of the real estate investment trust’s stock valued at $202,000 after buying an additional 53 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on AMT shares. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. decreased their price objective on American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Mizuho initiated coverage on American Tower in a report on Monday, April 8th. They set a “neutral” rating and a $205.00 price objective for the company. Morgan Stanley raised their target price on American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Barclays raised their target price on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $217.36.

American Tower Price Performance

Shares of NYSE:AMT traded up $1.36 during trading on Friday, reaching $172.36. 588,385 shares of the company’s stock traded hands, compared to its average volume of 2,394,489. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $219.10. The firm has a market cap of $80.38 billion, a PE ratio of 53.77, a P/E/G ratio of 1.36 and a beta of 0.67. The company has a 50-day simple moving average of $192.37 and a 200-day simple moving average of $193.43.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). American Tower had a return on equity of 12.80% and a net margin of 13.31%. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the prior year, the company posted $2.34 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year. As a group, analysts predict that American Tower Co. will post 9.94 earnings per share for the current year.

American Tower Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a yield of 3.76%. American Tower’s dividend payout ratio (DPR) is presently 203.77%.

Insider Buying and Selling at American Tower

In other news, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction of $962,584.84. Following the completion of the transaction, the director now directly owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were 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. 0.24% of the stock is currently owned by corporate insiders.

American Tower 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.