Proficio Capital Partners LLC Makes New Investment in American Tower Co. (NYSE:AMT)

Proficio Capital Partners LLC acquired a new position in shares of American Tower Co. (NYSE:AMT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 235,498 shares of the real estate investment trust’s stock, valued at approximately $43,193,000. Proficio Capital Partners LLC owned 0.05% of American Tower at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Balentine LLC acquired a new stake in American Tower during the 3rd quarter worth about $586,000. Nordea Investment Management AB lifted its holdings in shares of American Tower by 28.5% during the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock valued at $260,743,000 after buying an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of American Tower during the 3rd quarter valued at about $1,156,000. TigerOak Management L.L.C. acquired a new stake in shares of American Tower during the 4th quarter valued at about $1,102,000. Finally, Brookstone Capital Management lifted its holdings in shares of American Tower by 29.0% during the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock valued at $1,629,000 after buying an additional 1,995 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AMT shares. Barclays reduced their price target on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Mizuho reduced their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Scotiabank reduced their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. The Goldman Sachs Group reduced their price target on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Finally, Citizens Jmp upgraded American Tower to a “strong-buy” rating in a report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $225.21.

American Tower Stock Performance

Shares of NYSE AMT opened at $205.61 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The business’s 50 day moving average is $187.09 and its two-hundred day moving average is $206.81. The company has a market cap of $96.08 billion, a P/E ratio of 86.76, a P/E/G ratio of 1.29 and a beta of 0.84. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56.

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 the consensus estimate of $1.79 by $0.83. The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.29 EPS. On average, equities analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio is currently 273.42%.

Insiders Place Their Bets

In other news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

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.