Fidelis Capital Partners LLC Purchases 275 Shares of American Tower Co. (NYSE:AMT)

Fidelis Capital Partners LLC boosted its holdings in shares of American Tower Co. (NYSE:AMT) by 7.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,740 shares of the real estate investment trust’s stock after acquiring an additional 275 shares during the period. Fidelis Capital Partners LLC’s holdings in American Tower were worth $693,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC increased its stake in American Tower by 25.4% during 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 purchasing an additional 2,152,646 shares in the last quarter. Adelante Capital Management LLC increased 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 acquiring an additional 1,160,890 shares in the last quarter. State Street Corp raised its holdings in shares of American Tower by 3.1% during the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock worth $4,924,091,000 after acquiring an additional 635,726 shares during the period. KBC Group NV lifted its position in American Tower by 270.4% in the 3rd quarter. KBC Group NV now owns 466,772 shares of the real estate investment trust’s stock valued at $108,553,000 after acquiring an additional 340,742 shares in the last quarter. Finally, Brookfield Corp ON boosted its stake in American Tower by 88.3% in the 3rd quarter. Brookfield Corp ON now owns 710,725 shares of the real estate investment trust’s stock worth $165,286,000 after purchasing an additional 333,209 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the company. Hsbc Global Res raised American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Citigroup dropped their target price on American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. The Goldman Sachs Group reduced their price target on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Barclays lowered their price objective on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, JMP Securities began coverage on shares of American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 target price for the company. Four research 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 company. According to data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.21.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

American Tower Price Performance

Shares of NYSE AMT opened at $209.63 on Tuesday. The business’s 50 day moving average is $187.60 and its 200-day moving average is $206.52. The firm has a market cap of $97.96 billion, a P/E ratio of 88.45, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter last year, the firm earned $2.29 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. Equities research analysts predict that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were issued a dividend of $1.62 per share. The ex-dividend date was Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.09%. American Tower’s dividend payout ratio is presently 134.72%.

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.