American Tower Co. (NYSE:AMT) is TFG Advisers LLC’s 10th Largest Position

TFG Advisers LLC lessened its stake in American Tower Co. (NYSE:AMTFree Report) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,340 shares of the real estate investment trust’s stock after selling 78 shares during the quarter. American Tower comprises about 1.6% of TFG Advisers LLC’s holdings, making the stock its 10th largest holding. TFG Advisers LLC’s holdings in American Tower were worth $3,743,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of American Tower during the 4th quarter valued at approximately $1,051,898,000. Edgewood Management LLC lifted its position in shares of American Tower by 46.2% in the 4th quarter. Edgewood Management LLC now owns 4,985,879 shares of the real estate investment trust’s stock worth $1,076,352,000 after buying an additional 1,576,683 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of American Tower by 41.0% in the 4th quarter. Jennison Associates LLC now owns 5,299,306 shares of the real estate investment trust’s stock valued at $1,144,014,000 after buying an additional 1,541,029 shares during the period. International Assets Investment Management LLC raised its stake in American Tower by 16,195.9% during the fourth quarter. International Assets Investment Management LLC now owns 849,340 shares of the real estate investment trust’s stock worth $1,833,560,000 after acquiring an additional 844,128 shares during the period. Finally, Wellington Management Group LLP boosted its stake in American Tower by 5.6% in the third quarter. Wellington Management Group LLP now owns 12,984,052 shares of the real estate investment trust’s stock valued at $2,135,227,000 after acquiring an additional 691,934 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Mizuho started coverage on American Tower in a report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price target on the stock. Morgan Stanley upped 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 report on Monday, April 15th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Barclays reduced their price objective on American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Raymond James raised American Tower from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $226.00 to $248.00 in a research note on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and a consensus price target of $220.91.

View Our Latest Stock Report on American Tower

American Tower Stock Up 0.6 %

NYSE AMT traded up $1.08 during trading on Monday, reaching $196.82. 651,196 shares of the company’s stock were exchanged, compared to its average volume of 2,443,384. The firm has a market capitalization of $91.91 billion, a PE ratio of 44.29, a P/E/G ratio of 1.40 and a beta of 0.79. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week 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. The company’s fifty day simple moving average is $184.67 and its 200-day simple moving average is $196.27.

American Tower (NYSE:AMTGet Free Report) 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). American Tower had a return on equity of 18.45% and a net margin of 18.42%. The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter in the prior year, the business posted $2.54 earnings per share. American Tower’s revenue was up 2.4% on a year-over-year basis. Sell-side analysts predict that American Tower Co. will post 9.98 EPS for the current year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 14th will be paid a dividend of $1.62 per share. The ex-dividend date is Friday, June 14th. This represents a $6.48 annualized dividend and a dividend yield of 3.29%. American Tower’s dividend payout ratio (DPR) is 146.61%.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the sale, the chief financial officer now directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Robert D. Hormats sold 700 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $183.50, for a total transaction of $128,450.00. Following the completion of the transaction, the director now owns 7,332 shares of the company’s stock, valued at approximately $1,345,422. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rodney M. Smith sold 11,510 shares of the firm’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 completion of the sale, 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. 0.18% of the stock is 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.

Featured Stories

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

Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.