Mutual of America Capital Management LLC Lowers Position in American Tower Co. (NYSE:AMT)

Mutual of America Capital Management LLC lessened its stake in shares of American Tower Co. (NYSE:AMT) by 2.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 55,977 shares of the real estate investment trust’s stock after selling 1,538 shares during the period. Mutual of America Capital Management LLC’s holdings in American Tower were worth $10,267,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hara Capital LLC bought a new position in shares of American Tower during the 3rd quarter valued at approximately $31,000. Roxbury Financial LLC bought a new stake in American Tower during the 4th quarter worth approximately $32,000. Legacy Investment Solutions LLC purchased a new position in American Tower during the third quarter valued at approximately $34,000. Activest Wealth Management boosted its position in shares of American Tower by 431.0% in the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 125 shares during the period. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of American Tower in the fourth quarter worth $46,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 0.8 %

NYSE AMT opened at $205.61 on Friday. The stock has a 50 day moving average price of $187.09 and a 200-day moving average price of $206.69. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company has a market capitalization 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. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, beating the consensus estimate of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same quarter last year, the business earned $2.29 earnings per share. American Tower’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, equities analysts predict that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were paid a dividend of $1.62 per share. The ex-dividend date was Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.15%. American Tower’s payout ratio is currently 134.72%.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction that occurred on Thursday, January 16th. The stock was 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 in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of analyst reports. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Citigroup decreased their price target on American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Hsbc Global Res raised American Tower to a “strong-buy” rating in a research note on Thursday. BMO Capital Markets lifted their target price on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Barclays lowered their price target on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $225.21.

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.