American Tower Co. (NYSE:AMT) Shares Acquired by Horizon Investments LLC

Horizon Investments LLC lifted its stake in shares of American Tower Co. (NYSE:AMT) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,137 shares of the real estate investment trust’s stock after acquiring an additional 284 shares during the quarter. Horizon Investments LLC’s holdings in American Tower were worth $2,409,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new position in American Tower in the third quarter worth approximately $34,000. Activest Wealth Management grew its position in American Tower by 431.0% in the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 125 shares during the last quarter. Roxbury Financial LLC acquired a new position in American Tower in the fourth quarter worth approximately $32,000. Hobbs Group Advisors LLC grew its position in American Tower by 51.0% in the third quarter. Hobbs Group Advisors LLC now owns 222 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 75 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in American Tower by 49.3% in the third quarter. Larson Financial Group LLC now owns 227 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 75 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the 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 sale, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.18% of the company’s stock.

American Tower Price Performance

NYSE:AMT opened at $214.82 on Wednesday. The firm has a market cap of $100.42 billion, a PE ratio of 90.64, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The company’s 50-day moving average price is $193.74 and its two-hundred day moving average price is $205.54.

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

American Tower Increases Dividend

The company 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 $1.70 dividend. The ex-dividend date 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 3.17%. American Tower’s payout ratio is 141.37%.

Analyst Upgrades and Downgrades

AMT has been the topic of several recent research reports. Morgan Stanley decreased their price target on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. JMP Securities initiated coverage on shares of American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target on the stock. Barclays decreased 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. Scotiabank decreased their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company raised shares of American Tower from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $210.00 to $230.00 in a research note on Monday. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, American Tower presently has a consensus rating of “Buy” and an average price target of $228.79.

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.