Waterloo Capital L.P. cut its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 45.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,698 shares of the real estate investment trust's stock after selling 6,362 shares during the period. Waterloo Capital L.P.'s holdings in American Tower were worth $1,412,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of AMT. Roxbury Financial LLC acquired a new stake in shares of American Tower in the 4th quarter worth $32,000. Graney & King LLC acquired a new position in shares of American Tower during the fourth quarter valued at about $32,000. Legacy Investment Solutions LLC purchased a new position in shares of American Tower in the 3rd quarter valued at approximately $34,000. Crowley Wealth Management Inc. acquired a new position in American Tower during the 4th quarter valued at approximately $37,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of American Tower in the fourth quarter worth $46,000. Institutional investors own 92.69% of the company's stock.
American Tower Trading Up 2.4 %
NYSE:AMT traded up $4.93 during trading hours on Friday, hitting $213.25. The company had a trading volume of 2,555,413 shares, compared to its average volume of 2,466,286. 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. The company has a 50-day moving average of $205.31 and a 200 day moving average of $202.85. The company has a market cap of $99.69 billion, a P/E ratio of 89.98, a P/E/G ratio of 1.29 and a beta of 0.87.
American Tower (NYSE:AMT - Get Free Report) last released its quarterly 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. The business had revenue of $2.55 billion during the quarter, compared to analysts' expectations of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company's revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.29 EPS. Sell-side analysts expect that American Tower Co. will post 10.14 earnings per share for the current year.
American Tower Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Friday, April 11th. This is an increase from American Tower's previous quarterly dividend of $1.62. American Tower's payout ratio is currently 141.37%.
Insiders Place Their Bets
In other American Tower 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 value of $3,000,283.70. Following the completion of the transaction, the chief financial officer now owns 62,792 shares of the company's stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.18% of the company's stock.
Wall Street Analysts Forecast Growth
AMT has been the subject of a number of research reports. Citizens Jmp raised American Tower to a "strong-buy" rating in a research report on Monday, January 27th. BMO Capital Markets raised their price target on shares of American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Scotiabank reduced their target price on shares of American Tower from $236.00 to $220.00 and set a "sector outperform" rating for the company in a report on Thursday, January 23rd. Hsbc Global Res raised American Tower to a "strong-buy" rating in a report on Thursday, February 27th. 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 research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $232.07.
Read Our Latest Analysis on American Tower
About American Tower
(
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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