Bailard Inc. Has $2.91 Million Holdings in American Tower Co. (NYSE:AMT)

Bailard Inc. boosted its position in shares of American Tower Co. (NYSE:AMT) by 16.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,472 shares of the real estate investment trust’s stock after acquiring an additional 1,922 shares during the quarter. Bailard Inc.’s holdings in American Tower were worth $2,908,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Thompson Investment Management Inc. acquired a new position in shares of American Tower in the fourth quarter valued at approximately $29,000. McClarren Financial Advisors Inc. acquired a new stake in shares of American Tower during the third quarter worth $27,000. Emerald Advisers LLC bought a new stake in shares of American Tower in the third quarter valued at about $29,000. Valley National Advisers Inc. grew 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 valued at $38,000 after acquiring an additional 118 shares in the last quarter. Finally, Oakworth Capital Inc. raised its stake in American Tower by 157.9% in the 4th quarter. Oakworth Capital Inc. now owns 196 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 120 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of analyst reports. Morgan Stanley increased their target price on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Mizuho started coverage on American Tower in a report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price objective for the company. BMO Capital Markets cut their target price on American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. Barclays raised their price target on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Finally, StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and an average price target of $217.36.

Insider Buying and Selling at American Tower

In related news, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following 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 legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Rodney M. Smith sold 11,510 shares of the company’s stock in a transaction that occurred on 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 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction 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 $3,532,080.70. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

American Tower Trading Up 0.8 %

NYSE:AMT traded up $1.34 on Friday, reaching $174.24. 310,923 shares of the stock traded hands, compared to its average volume of 2,404,601. The firm has a market capitalization of $81.26 billion, a price-to-earnings ratio of 54.39, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.29. The company’s 50 day moving average is $190.60 and its 200-day moving average is $193.90.

American Tower (NYSE:AMT) last announced its earnings results 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 firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the prior year, the business earned $2.34 EPS. American Tower’s quarterly revenue was up 3.0% on a year-over-year basis. Equities research analysts anticipate that American Tower Co. will post 9.94 EPS for the current fiscal year.

American Tower Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be paid 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 3.72%. American Tower’s dividend payout ratio (DPR) is presently 203.77%.

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.