Firetrail Investments PTY Ltd. Has $11.54 Million Position in American Tower Co. (NYSE:AMT)

Firetrail Investments PTY Ltd. reduced its position in shares of American Tower Co. (NYSE:AMT) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,683 shares of the real estate investment trust’s stock after selling 2,925 shares during the period. American Tower makes up about 3.5% of Firetrail Investments PTY Ltd.’s portfolio, making the stock its 15th biggest holding. Firetrail Investments PTY Ltd.’s holdings in American Tower were worth $11,538,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hara Capital LLC acquired a new position in American Tower in the 3rd quarter valued at $31,000. Roxbury Financial LLC acquired a new position in American Tower in the 4th quarter valued at $32,000. Legacy Investment Solutions LLC acquired a new position in American Tower in the 3rd quarter valued at $34,000. Activest Wealth Management raised its holdings in American Tower by 431.0% in the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 125 shares in the last quarter. Finally, Bank of Jackson Hole Trust acquired a new position in American Tower in the 4th quarter valued at $46,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the company’s 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 sale, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by corporate insiders.

American Tower Trading Up 0.8 %

NYSE AMT opened at $205.61 on Friday. The business’s 50-day moving average price is $187.09 and its two-hundred day moving average price is $206.69. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The firm has a market capitalization of $96.08 billion, a PE ratio of 86.76, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, beating 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 firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the previous year, the company posted $2.29 EPS. The business’s revenue was up 3.7% on a year-over-year basis. On average, analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Announces Dividend

The business 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. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.15%. American Tower’s dividend payout ratio (DPR) is presently 134.72%.

Analyst Ratings Changes

Several brokerages have weighed in on AMT. Hsbc Global Res raised American Tower to a “strong-buy” rating in a report on Thursday. JMP Securities started coverage on American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 price target for the company. Citizens Jmp raised American Tower to a “strong-buy” rating in a report on Monday, January 27th. Barclays lowered 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. Finally, Morgan Stanley lowered their price target on American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, American Tower currently has an average rating of “Moderate Buy” and an average price target of $225.21.

About American Tower

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.