Fosun International Ltd Purchases New Position in American Tower Co. (NYSE:AMT)

Fosun International Ltd purchased a new stake in American Tower Co. (NYSE:AMT) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,435 shares of the real estate investment trust’s stock, valued at approximately $526,000.

A number of other institutional investors and hedge funds have also made changes to their positions in AMT. Lindbrook Capital LLC raised its holdings in shares of American Tower by 5.0% in the third quarter. Lindbrook Capital LLC now owns 2,266 shares of the real estate investment trust’s stock valued at $373,000 after buying an additional 108 shares during the last quarter. Verdence Capital Advisors LLC increased its stake in shares of American Tower by 18.4% during the third quarter. Verdence Capital Advisors LLC now owns 2,063 shares of the real estate investment trust’s stock worth $339,000 after acquiring an additional 320 shares during the period. Mackenzie Financial Corp increased its stake in shares of American Tower by 3.2% during the third quarter. Mackenzie Financial Corp now owns 215,248 shares of the real estate investment trust’s stock worth $34,031,000 after acquiring an additional 6,612 shares during the period. Value Partners Investments Inc. increased its stake in shares of American Tower by 2.0% during the third quarter. Value Partners Investments Inc. now owns 31,073 shares of the real estate investment trust’s stock worth $5,114,000 after acquiring an additional 606 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of American Tower by 2.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 143,516 shares of the real estate investment trust’s stock worth $23,601,000 after acquiring an additional 3,425 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the 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 transaction, the chief financial officer now owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, 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 value of $962,584.84. Following the transaction, the director now 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 SEC, which is accessible through this hyperlink. Also, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction 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 completion of 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. Over the last 90 days, insiders have sold 17,264 shares of company stock valued at $3,458,757. Company insiders own 0.18% of the company’s stock.

American Tower Price Performance

Shares of AMT stock traded up $4.57 during trading hours on Thursday, hitting $185.90. The company’s stock had a trading volume of 215,410 shares, compared to its average volume of 2,437,319. The business has a fifty day moving average of $188.86 and a 200-day moving average of $195.09. The stock has a market cap of $86.69 billion, a price-to-earnings ratio of 41.02, a P/E/G ratio of 1.43 and a beta of 0.71. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $219.10. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.39.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.47). The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.54 EPS. As a group, equities research analysts anticipate that American Tower Co. will post 9.96 EPS for the current year.

American Tower Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.49%. The ex-dividend date was Thursday, April 11th. American Tower’s payout ratio is 146.61%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AMT shares. BMO Capital Markets dropped their price target on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Mizuho started coverage on shares of American Tower in a research note on Monday, April 8th. They set a “neutral” rating and a $205.00 price target on the stock. Morgan Stanley boosted their price target on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Scotiabank lowered their target price on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. lowered their target price on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $221.91.

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.