American Tower Co. (NYSE:AMT) Shares Bought by Arbor Capital Management Inc. ADV

Arbor Capital Management Inc. ADV raised its position in American Tower Co. (NYSE:AMT) by 7.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,587 shares of the real estate investment trust’s stock after acquiring an additional 462 shares during the period. Arbor Capital Management Inc. ADV’s holdings in American Tower were worth $1,221,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in AMT. Roxbury Financial LLC acquired a new stake in shares of American Tower in the fourth quarter valued at about $32,000. Legacy Investment Solutions LLC acquired a new stake in shares of American Tower in the third quarter valued at about $34,000. Activest Wealth Management lifted its stake in shares of American Tower by 431.0% in the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 125 shares during the period. Bank of Jackson Hole Trust acquired a new stake in shares of American Tower in the fourth quarter valued at about $46,000. Finally, Versant Capital Management Inc lifted its stake in shares of American Tower by 113.9% in the fourth quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 139 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the subject of several recent analyst reports. Barclays reduced their price objective on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Mizuho cut their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Morgan Stanley cut their target price on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. The Goldman Sachs Group cut their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, Wells Fargo & Company cut their target price on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.29.

American Tower Price Performance

American Tower stock opened at $211.02 on Monday. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The firm has a 50 day moving average price of $192.33 and a 200 day moving average price of $205.68. The company has a market cap of $98.64 billion, a price-to-earnings ratio of 89.04, a PEG ratio of 1.29 and a beta of 0.85. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

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. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the previous year, the firm earned $2.29 earnings per share. American Tower’s revenue was up 3.7% compared to the same quarter last year. Sell-side analysts predict that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.22%. This is a boost from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. American Tower’s payout ratio is 141.37%.

Insider Buying and Selling at American Tower

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

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.