American Tower Co. (NYSE:AMT) Position Increased by Cwm LLC

Cwm LLC raised its position in American Tower Co. (NYSE:AMT) by 19.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,838 shares of the real estate investment trust’s stock after purchasing an additional 1,940 shares during the quarter. Cwm LLC’s holdings in American Tower were worth $2,556,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of AMT. Alera Investment Advisors LLC boosted its position in 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 worth $886,000 after purchasing an additional 51 shares during the period. First Business Financial Services Inc. boosted its holdings in shares of American Tower by 1.3% during the 3rd quarter. First Business Financial Services Inc. now owns 4,290 shares of the real estate investment trust’s stock worth $705,000 after buying an additional 55 shares during the period. Northcape Wealth Management LLC grew its stake in American Tower by 0.5% in the 3rd quarter. Northcape Wealth Management LLC now owns 10,521 shares of the real estate investment trust’s stock valued at $1,730,000 after buying an additional 56 shares during the last quarter. Augustine Asset Management Inc. raised its holdings in American Tower by 0.8% in the 4th quarter. Augustine Asset Management Inc. now owns 7,092 shares of the real estate investment trust’s stock worth $1,531,000 after acquiring an additional 56 shares during the period. Finally, Teamwork Financial Advisors LLC lifted its position in American Tower by 2.8% during the 3rd quarter. Teamwork Financial Advisors LLC now owns 2,139 shares of the real estate investment trust’s stock worth $352,000 after acquiring an additional 59 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity at American Tower

In other news, CFO Rodney M. Smith sold 11,510 shares of the 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 sale, the chief financial officer now owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, 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 completion of the transaction, the chief financial officer now directly owns 62,969 shares in the company, valued at $12,953,352.99. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 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 disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

American Tower Stock Down 0.2 %

NYSE:AMT opened at $172.96 on Friday. American Tower Co. has a 52-week low of $154.58 and a 52-week high of $219.10. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market cap of $80.66 billion, a price-to-earnings ratio of 54.39, a P/E/G ratio of 1.37 and a beta of 0.67. The stock’s fifty day moving average price is $190.60 and its two-hundred day moving average price is $193.90.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($1.16). The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. American Tower’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $2.34 EPS. On average, analysts anticipate that American Tower Co. will post 9.94 EPS for the current year.

American Tower Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Thursday, April 11th. American Tower’s dividend payout ratio (DPR) is presently 203.77%.

Analyst Ratings Changes

AMT has been the subject of several research analyst reports. Barclays boosted their price objective on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. BMO Capital Markets reduced their price objective 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. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. reduced their price target 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. Finally, 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 price target on the stock. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.36.

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.