American Tower Co. (NYSE:AMT) Shares Acquired by Avalon Trust Co

Avalon Trust Co raised its position in shares of American Tower Co. (NYSE:AMT) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,261 shares of the real estate investment trust’s stock after acquiring an additional 398 shares during the quarter. Avalon Trust Co’s holdings in American Tower were worth $13,987,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AMT. FMR LLC increased its holdings in shares of American Tower by 25.4% in the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock valued at $2,474,934,000 after purchasing an additional 2,152,646 shares during the last quarter. Adelante Capital Management LLC increased its holdings in shares of American Tower by 2,723.4% in the third quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock valued at $279,890,000 after purchasing an additional 1,160,890 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of American Tower in the fourth quarter valued at approximately $193,246,000. Daiwa Securities Group Inc. increased its holdings in shares of American Tower by 456.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,124,633 shares of the real estate investment trust’s stock valued at $206,269,000 after purchasing an additional 922,701 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of American Tower by 3.1% in the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock valued at $4,924,091,000 after purchasing an additional 635,726 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.18% of the stock is currently owned by company insiders.

American Tower Trading Up 1.6 %

AMT opened at $211.02 on Friday. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The business has a fifty day simple moving average of $192.33 and a 200-day simple moving average of $205.82. The firm has a market cap of $98.64 billion, a P/E ratio of 89.04, a P/E/G ratio of 1.29 and a beta of 0.85. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.83. The firm had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business posted $2.29 earnings per share. On average, equities analysts expect that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Friday, April 11th. This is a positive change from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a yield of 3.22%. American Tower’s dividend payout ratio (DPR) is 141.37%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. BMO Capital Markets increased their price target on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Barclays lowered their price objective on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. JMP Securities started coverage on American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price objective for the company. Finally, Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $226.29.

American Tower Company 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.