Bryn Mawr Capital Management LLC Buys New Holdings in American Tower Co. (NYSE:AMT)

Bryn Mawr Capital Management LLC bought a new stake in American Tower Co. (NYSE:AMT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,443 shares of the real estate investment trust’s stock, valued at approximately $311,000.

Several other hedge funds have also bought and sold shares of the company. Alera Investment Advisors LLC lifted its stake in American Tower by 1.3% in the 4th quarter. Alera Investment Advisors LLC now owns 4,105 shares of the real estate investment trust’s stock valued at $886,000 after purchasing an additional 51 shares during the last quarter. First Business Financial Services Inc. raised its holdings in American Tower by 1.3% in the 3rd quarter. First Business Financial Services Inc. now owns 4,290 shares of the real estate investment trust’s stock valued at $705,000 after acquiring an additional 55 shares during the period. Northcape Wealth Management LLC raised its holdings in American Tower by 0.5% in the 3rd quarter. Northcape Wealth Management LLC now owns 10,521 shares of the real estate investment trust’s stock valued at $1,730,000 after acquiring an additional 56 shares during the period. Augustine Asset Management Inc. raised its holdings in American Tower by 0.8% in the 4th quarter. Augustine Asset Management Inc. now owns 7,092 shares of the real estate investment trust’s stock valued at $1,531,000 after acquiring an additional 56 shares during the period. Finally, Teamwork Financial Advisors LLC raised its holdings in American Tower by 2.8% in the 3rd quarter. Teamwork Financial Advisors LLC now owns 2,139 shares of the real estate investment trust’s stock valued at $352,000 after acquiring an additional 59 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Performance

NYSE AMT opened at $171.69 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.29. The firm has a market capitalization of $80.07 billion, a price-to-earnings ratio of 53.99, a P/E/G ratio of 1.36 and a beta of 0.67. The firm’s 50 day simple moving average is $190.29 and its 200 day simple moving average is $194.22. American Tower Co. has a 1 year low of $154.58 and a 1 year high of $219.10.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($1.16). The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.74 billion. American Tower had a return on equity of 12.80% and a net margin of 13.31%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.34 EPS. As a group, research analysts expect that American Tower Co. will post 9.94 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.77%. American Tower’s payout ratio is presently 203.77%.

Insiders Place Their Bets

In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the sale, the chief financial officer now owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the sale, the chief financial officer now owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total transaction of $962,584.84. Following the sale, the director now directly owns 18,545 shares in the company, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on AMT shares. Morgan Stanley increased their price target on shares of American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Mizuho began coverage on shares of American Tower in a report on Monday, April 8th. They set a “neutral” rating and a $205.00 target price on the stock. Barclays raised their target price on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Finally, BMO Capital Markets lowered their target price on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $217.36.

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.