Berkeley Capital Partners LLC Has $841,000 Position in American Tower Co. (NYSE:AMT)

Berkeley Capital Partners LLC boosted its position in shares of American Tower Co. (NYSE:AMTFree Report) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,895 shares of the real estate investment trust’s stock after purchasing an additional 130 shares during the quarter. Berkeley Capital Partners LLC’s holdings in American Tower were worth $841,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. McClarren Financial Advisors Inc. acquired a new position in shares of American Tower in the third quarter valued at approximately $27,000. Thompson Investment Management Inc. acquired a new position in shares of American Tower in the fourth quarter valued at approximately $29,000. Private Wealth Management Group LLC acquired a new position in shares of American Tower in the fourth quarter valued at approximately $31,000. Brown Shipley& Co Ltd acquired a new position in shares of American Tower in the third quarter valued at approximately $35,000. Finally, Valley National Advisers Inc. boosted its holdings 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 buying an additional 118 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AMT shares. Raymond James upgraded shares of American Tower from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $226.00 to $248.00 in a report on Wednesday, May 1st. 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 report on Monday, April 15th. BMO Capital Markets reduced their target price on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Scotiabank reduced their target price on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a report on Wednesday, May 1st. Finally, 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. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $221.91.

Check Out Our Latest Analysis on AMT

American Tower Stock Performance

Shares of AMT traded down $2.74 during trading hours on Monday, hitting $191.77. The company had a trading volume of 1,732,829 shares, compared to its average volume of 2,455,290. The firm has a market cap of $89.55 billion, a price-to-earnings ratio of 43.60, a PEG ratio of 1.64 and a beta of 0.71. The business has a fifty day moving average of $186.50 and a 200-day moving average of $196.11. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.39.

American Tower (NYSE:AMTGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.47). The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. American Tower’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.54 earnings per share. Equities analysts anticipate that American Tower Co. will post 9.96 EPS for the current fiscal year.

American Tower Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend was Thursday, April 11th. American Tower’s payout ratio is presently 146.61%.

Insider Activity

In related news, CFO Rodney M. Smith sold 11,510 shares of the firm’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 transaction, the chief financial officer now directly 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 available through this hyperlink. In other American Tower news, Director Robert D. Hormats sold 700 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $183.50, for a total transaction of $128,450.00. Following the sale, the director now directly owns 7,332 shares in the company, valued at $1,345,422. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction dated Wednesday, March 6th. The stock was 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 in the company, valued at $12,953,352.99. The disclosure for this sale can be found here. Insiders have sold 17,264 shares of company stock valued at $3,458,757 over the last ninety days. 0.18% of the stock is currently owned by company insiders.

American Tower Profile

(Free Report)

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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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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