American Tower Co. (NYSE:AMT) Stock Holdings Increased by Jag Capital Management LLC

Jag Capital Management LLC grew its stake in shares of American Tower Co. (NYSE:AMT) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,561 shares of the real estate investment trust’s stock after purchasing an additional 112 shares during the quarter. Jag Capital Management LLC’s holdings in American Tower were worth $1,937,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SWS Partners lifted its position in shares of American Tower by 14.6% during the 4th quarter. SWS Partners now owns 9,113 shares of the real estate investment trust’s stock valued at $1,686,000 after acquiring an additional 1,162 shares during the last quarter. Torray Investment Partners LLC increased its stake in shares of American Tower by 16.0% in the fourth quarter. Torray Investment Partners LLC now owns 48,923 shares of the real estate investment trust’s stock worth $8,973,000 after acquiring an additional 6,752 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in shares of American Tower by 91.9% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 28,302 shares of the real estate investment trust’s stock worth $5,149,000 after acquiring an additional 13,550 shares during the last quarter. Alta Capital Management LLC increased its stake in shares of American Tower by 6.3% in the fourth quarter. Alta Capital Management LLC now owns 20,438 shares of the real estate investment trust’s stock worth $3,749,000 after acquiring an additional 1,220 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in American Tower by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,316,312 shares of the real estate investment trust’s stock worth $975,065,000 after purchasing an additional 107,345 shares in the last quarter. 92.69% of the stock is currently 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 business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Barclays decreased their price target on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Scotiabank dropped their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. BMO Capital Markets raised their price target on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Morgan Stanley reduced their price objective on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. Finally, The Goldman Sachs Group reduced their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Four 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.21.

American Tower Stock Up 2.0 %

Shares of NYSE AMT opened at $209.63 on Tuesday. The stock has a market capitalization of $97.96 billion, a P/E ratio of 88.45, a P/E/G ratio of 1.29 and a beta of 0.84. The company has a 50-day moving average price of $187.60 and a 200-day moving average price of $206.52. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT) last announced its quarterly earnings data 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 business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.29 earnings per share. On average, equities research analysts forecast that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.09%. American Tower’s dividend payout ratio is currently 134.72%.

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.