AlphaQuest LLC Has $1.37 Million Holdings in American Tower Co. (NYSE:AMT)

AlphaQuest LLC lessened its position in American Tower Co. (NYSE:AMT) by 4.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 7,476 shares of the real estate investment trust’s stock after selling 360 shares during the period. AlphaQuest LLC’s holdings in American Tower were worth $1,371,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Rehmann Capital Advisory Group grew its stake in American Tower by 4.2% in the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock valued at $332,000 after acquiring an additional 58 shares during the period. Precedent Wealth Partners LLC boosted its position in shares of American Tower by 4.7% during the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock valued at $235,000 after buying an additional 58 shares during the last quarter. Resonant Capital Advisors LLC boosted its position in shares of American Tower by 5.8% during the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock valued at $206,000 after buying an additional 61 shares during the last quarter. Calamos Wealth Management LLC boosted its position in shares of American Tower by 2.9% during the fourth quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust’s stock valued at $398,000 after buying an additional 61 shares during the last quarter. Finally, Sunburst Financial Group LLC boosted its position in shares of American Tower by 4.9% during the fourth quarter. Sunburst Financial Group LLC now owns 1,354 shares of the real estate investment trust’s stock valued at $248,000 after buying an additional 63 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is owned by company insiders.

American Tower Stock Performance

NYSE:AMT opened at $212.49 on Monday. 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 Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The firm has a market cap of $99.29 billion, a price-to-earnings ratio of 89.66, a PEG ratio of 1.29 and a beta of 0.85. The business’s fifty day moving average is $189.60 and its 200 day moving average is $206.21.

American Tower (NYSE:AMT) last released its quarterly earnings data 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 return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same period in the previous year, the company posted $2.29 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. Research analysts predict that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.20%. This is a positive change 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 presently 134.72%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Citizens Jmp raised American Tower to a “strong-buy” rating in a research report on Monday, January 27th. JMP Securities started coverage on American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 price target on the stock. Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Citigroup dropped their price target on American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Finally, Wells Fargo & Company dropped their price target on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $225.21.

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.