Sage Mountain Advisors LLC Acquires 101 Shares of American Tower Co. (NYSE:AMT)

Sage Mountain Advisors LLC raised its holdings in American Tower Co. (NYSE:AMT) by 5.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,133 shares of the real estate investment trust’s stock after purchasing an additional 101 shares during the period. Sage Mountain Advisors LLC’s holdings in American Tower were worth $391,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AMT. Roxbury Financial LLC bought a new stake in shares of American Tower in the fourth quarter valued at approximately $32,000. Legacy Investment Solutions LLC acquired a new position in American Tower in the 3rd quarter valued at $34,000. Activest Wealth Management lifted its position in shares of American Tower by 431.0% during the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 125 shares during the period. Bank of Jackson Hole Trust acquired a new stake in shares of American Tower during the 4th quarter worth $46,000. Finally, Versant Capital Management Inc increased its position 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 worth $48,000 after purchasing an additional 139 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Down 1.5 %

Shares of NYSE AMT opened at $209.95 on Wednesday. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. 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 cap of $98.14 billion, a PE ratio of 88.58, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The company has a 50 day simple moving average of $190.77 and a 200 day simple moving average of $206.04.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. The company 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%. American Tower’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.29 earnings per share. On average, research analysts forecast that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be paid a $1.70 dividend. This is a boost from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. This represents a $6.80 annualized dividend and a dividend yield of 3.24%. American Tower’s dividend payout ratio is presently 141.37%.

Insider Transactions at American Tower

In other American Tower 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 completion of the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

AMT has been the subject of several recent analyst reports. Wells Fargo & Company cut their price objective 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. Morgan Stanley reduced 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. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Barclays cut their target price on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Finally, Scotiabank decreased their price target on 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. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $226.29.

American Tower 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.