DRW Securities LLC acquired a new stake in American Tower Co. (NYSE:AMT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,526 shares of the real estate investment trust's stock, valued at approximately $280,000.
Other institutional investors have also modified their holdings of the company. Graney & King LLC purchased a new stake in shares of American Tower during the 4th quarter worth $32,000. Roxbury Financial LLC purchased a new position in shares of American Tower in the 4th quarter worth approximately $32,000. Crowley Wealth Management Inc. purchased a new stake in American Tower during the fourth quarter valued at approximately $37,000. Hobbs Group Advisors LLC grew its holdings 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 purchasing an additional 75 shares during the last quarter. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of American Tower during the 4th quarter valued at $46,000. 92.69% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the company. Barclays boosted their price target on American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. BMO Capital Markets boosted their price objective on shares of American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Hsbc Global Res upgraded American Tower to a "strong-buy" rating in a research note on Thursday, February 27th. Citigroup lifted their target price on American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Finally, Mizuho dropped their price objective on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, American Tower presently has an average rating of "Buy" and a consensus price target of $232.07.
View Our Latest Stock Analysis on AMT
American Tower Price Performance
Shares of NYSE AMT traded up $0.07 during mid-day trading on Tuesday, reaching $217.86. The company's stock had a trading volume of 2,886,599 shares, compared to its average volume of 2,463,961. The stock has a market capitalization of $101.84 billion, a P/E ratio of 91.92, a P/E/G ratio of 1.29 and a beta of 0.87. The stock has a 50-day moving average of $205.92 and a two-hundred day moving average of $202.56. 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 quick ratio of 0.69 and a current ratio of 0.69.
American Tower (NYSE:AMT - Get Free Report) last issued its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) 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 business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same period last year, the company earned $2.29 EPS. The company's revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities research analysts anticipate that American Tower Co. will post 10.14 EPS for the current fiscal year.
American Tower Increases Dividend
The firm 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 represents a $6.80 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Friday, April 11th. This is a positive change from American Tower's previous quarterly dividend of $1.62. American Tower's dividend payout ratio is 141.37%.
Insiders Place Their Bets
In related news, CFO Rodney M. Smith sold 16,567 shares of the 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is currently owned by insiders.
American Tower Profile
(
Free Report)
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.
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