American Tower Co. (NYSE:AMT) Shares Purchased by Jones Financial Companies Lllp

Jones Financial Companies Lllp grew its stake in shares of American Tower Co. (NYSE:AMT) by 18.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 144,481 shares of the real estate investment trust’s stock after purchasing an additional 22,260 shares during the quarter. Jones Financial Companies Lllp’s holdings in American Tower were worth $26,499,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of AMT. FMR LLC boosted its holdings in American Tower by 25.4% in the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after acquiring an additional 2,152,646 shares during the period. Adelante Capital Management LLC lifted its position in shares of American Tower by 2,723.4% during the third quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock worth $279,890,000 after purchasing an additional 1,160,890 shares in the last quarter. State Street Corp boosted its stake 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 period. KBC Group NV boosted its stake in shares of American Tower by 270.4% in the third quarter. KBC Group NV now owns 466,772 shares of the real estate investment trust’s stock valued at $108,553,000 after purchasing an additional 340,742 shares during the period. Finally, Brookfield Corp ON grew its holdings in American Tower by 88.3% during the 3rd quarter. Brookfield Corp ON now owns 710,725 shares of the real estate investment trust’s stock valued at $165,286,000 after purchasing an additional 333,209 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

NYSE AMT opened at $205.61 on Monday. The company’s 50 day simple moving average is $187.09 and its 200 day simple moving average is $206.58. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market capitalization of $96.08 billion, a PE ratio of 86.76, a P/E/G ratio of 1.29 and a beta of 0.84. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.83. The company had revenue of $2.55 billion during 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 business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.29 EPS. As a group, equities research analysts forecast that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio is presently 134.72%.

Insider Buying and Selling at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the firm’s 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 completion of the sale, 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 can be accessed through the SEC website. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on AMT. The Goldman Sachs Group decreased their price objective 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. Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a research note on Thursday. Scotiabank cut their target price on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research note on Thursday, January 23rd. Citigroup decreased their price objective on shares of American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a report on Friday, February 14th. Finally, Morgan Stanley lowered their target price on American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus price target of $225.21.

About American Tower

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.