Cross Staff Investments Inc boosted its holdings in American Tower Co. (NYSE:AMT – Free Report) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,027 shares of the real estate investment trust’s stock after purchasing an additional 244 shares during the period. American Tower makes up 1.0% of Cross Staff Investments Inc’s portfolio, making the stock its 25th largest position. Cross Staff Investments Inc’s holdings in American Tower were worth $1,085,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Thompson Investment Management Inc. bought a new position in American Tower during the 4th quarter worth approximately $29,000. McClarren Financial Advisors Inc. purchased a new stake in shares of American Tower during the third quarter valued at approximately $27,000. Emerald Advisers LLC bought a new position in shares of American Tower in the third quarter worth approximately $29,000. Valley National Advisers Inc. increased 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 worth $38,000 after buying an additional 118 shares during the period. Finally, Oakworth Capital Inc. grew its holdings 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 acquiring an additional 120 shares during the last quarter. 92.69% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of analysts have recently weighed in on AMT shares. Barclays increased their target price on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Morgan Stanley upped their target price on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Mizuho began coverage on shares of American Tower in a research report on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price for the company. Finally, JPMorgan Chase & Co. lowered their price objective on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $217.36.
American Tower Stock Down 0.3 %
Shares of AMT traded down $0.49 on Friday, hitting $172.41. 934,611 shares of the stock traded hands, compared to its average volume of 2,412,041. The business has a 50 day simple moving average of $190.60 and a 200 day simple moving average of $193.90. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a one year low of $154.58 and a one year high of $219.10. The company has a market capitalization of $80.40 billion, a PE ratio of 54.39, a P/E/G ratio of 1.37 and a beta of 0.67.
American Tower (NYSE:AMT – Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing the consensus estimate of $2.10 by ($1.16). The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the business earned $2.34 earnings per share. As a group, equities analysts forecast that American Tower Co. will post 9.94 earnings per share for the current fiscal year.
American Tower Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be paid a dividend of $1.62 per share. The ex-dividend date is Thursday, April 11th. This represents a $6.48 annualized dividend and a yield of 3.76%. American Tower’s payout ratio is 203.77%.
Insider Transactions at American Tower
In other news, Director Pamela D. A. Reeve sold 5,054 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was 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 approximately $3,532,080.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Rodney M. Smith sold 11,510 shares of the business’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 value of $2,367,722.10. Following the transaction, the chief financial officer now directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.
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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.
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