American Tower Co. (NYSE:AMT) Shares Purchased by Cottonwood Capital Advisors LLC

Cottonwood Capital Advisors LLC boosted its holdings in shares of American Tower Co. (NYSE:AMT) by 20.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,113 shares of the real estate investment trust’s stock after acquiring an additional 192 shares during the quarter. Cottonwood Capital Advisors LLC’s holdings in American Tower were worth $204,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Delta Investment Management LLC boosted its position in shares of American Tower by 7.3% during the second quarter. Delta Investment Management LLC now owns 1,303 shares of the real estate investment trust’s stock worth $253,000 after buying an additional 89 shares during the period. MBB Public Markets I LLC lifted its holdings in American Tower by 1,984.8% during the 2nd quarter. MBB Public Markets I LLC now owns 32,898 shares of the real estate investment trust’s stock worth $6,395,000 after buying an additional 31,320 shares during the last quarter. Makena Capital Management LLC purchased a new stake in American Tower during the 2nd quarter worth about $7,797,000. Mackenzie Financial Corp lifted its holdings in American Tower by 23.6% during the 2nd quarter. Mackenzie Financial Corp now owns 655,113 shares of the real estate investment trust’s stock worth $127,341,000 after buying an additional 125,104 shares during the last quarter. Finally, Lighthouse Investment Partners LLC acquired a new stake in shares of American Tower during the second quarter worth about $13,607,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of research analyst reports. Barclays cut their target price on American Tower from $251.00 to $215.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Scotiabank dropped their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research report on Thursday. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Wells Fargo & Company dropped their price target on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, BMO Capital Markets dropped their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Four investment 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’s stock. According to MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $226.42.

American Tower Price Performance

Shares of NYSE:AMT opened at $185.17 on Friday. The business’s 50 day simple moving average is $192.31 and its 200-day simple moving average is $211.11. The firm has a market capitalization of $86.53 billion, a price-to-earnings ratio of 78.13, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same period last year, the firm earned $2.58 EPS. American Tower’s revenue was down 10.5% compared to the same quarter last year. As a group, equities analysts forecast that American Tower Co. will post 10.15 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s payout ratio is currently 273.42%.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.18% of the stock is currently owned by insiders.

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.