Private Advisor Group LLC Has $16.08 Million Stake in American Tower Co. (NYSE:AMT)

Private Advisor Group LLC raised its position in American Tower Co. (NYSE:AMT) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,504 shares of the real estate investment trust’s stock after purchasing an additional 2,029 shares during the quarter. Private Advisor Group LLC’s holdings in American Tower were worth $16,084,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cross Staff Investments Inc grew its holdings in shares of American Tower by 5.1% in the 4th quarter. Cross Staff Investments Inc now owns 5,027 shares of the real estate investment trust’s stock valued at $1,085,000 after acquiring an additional 244 shares in the last quarter. Gateway Investment Advisers LLC grew its holdings in shares of American Tower by 57.7% in the 4th quarter. Gateway Investment Advisers LLC now owns 35,751 shares of the real estate investment trust’s stock valued at $7,718,000 after acquiring an additional 13,074 shares in the last quarter. Anchor Capital Advisors LLC grew its holdings in shares of American Tower by 38.1% in the 4th quarter. Anchor Capital Advisors LLC now owns 76,625 shares of the real estate investment trust’s stock valued at $16,542,000 after acquiring an additional 21,139 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of American Tower by 0.5% in the 3rd quarter. Victory Capital Management Inc. now owns 177,288 shares of the real estate investment trust’s stock valued at $29,155,000 after acquiring an additional 806 shares in the last quarter. Finally, FAS Wealth Partners Inc. bought a new position in shares of American Tower in the 4th quarter valued at about $2,001,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. reduced their price target on American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Raymond James upgraded American Tower from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $226.00 to $248.00 in a report on Wednesday, May 1st. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Mizuho assumed coverage on American Tower in a report on Monday, April 8th. They set a “neutral” rating and a $205.00 price target for the company. Finally, Scotiabank reduced their price target on American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $221.91.

Insider Buying and Selling at American Tower

In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 62,969 shares in the company, valued at $12,953,352.99. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction of $962,584.84. Following the sale, the director now owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was 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 directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

American Tower Price Performance

Shares of NYSE AMT traded down $3.05 during midday trading on Monday, reaching $178.69. The company’s stock had a trading volume of 2,294,437 shares, compared to its average volume of 2,467,112. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.85 and a current ratio of 0.85. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $219.10. The business’s 50 day moving average price is $188.97 and its two-hundred day moving average price is $194.94. The company has a market cap of $83.33 billion, a P/E ratio of 40.43, a P/E/G ratio of 1.43 and a beta of 0.71.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). American Tower had a net margin of 18.42% and a return on equity of 18.45%. The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same quarter in the previous year, the firm posted $2.54 earnings per share. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. On average, analysts forecast that American Tower Co. will post 9.96 EPS for the current fiscal year.

American Tower Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were given a $1.62 dividend. 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 3.63%. American Tower’s payout ratio is 146.61%.

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.