King Luther Capital Management Corp Has $41.77 Million Stock Holdings in American Tower Co. (NYSE:AMT)

King Luther Capital Management Corp grew its position in American Tower Co. (NYSE:AMT) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 227,734 shares of the real estate investment trust’s stock after purchasing an additional 2,192 shares during the period. King Luther Capital Management Corp’s holdings in American Tower were worth $41,769,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Rehmann Capital Advisory Group grew its holdings in shares of American Tower by 4.2% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock valued at $332,000 after purchasing an additional 58 shares during the last quarter. Precedent Wealth Partners LLC grew its holdings in shares of American Tower by 4.7% during the 4th quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock valued at $235,000 after purchasing an additional 58 shares during the last quarter. Resonant Capital Advisors LLC grew its holdings in shares of American Tower by 5.8% during the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock valued at $206,000 after purchasing an additional 61 shares during the last quarter. Calamos Wealth Management LLC grew its holdings in shares of American Tower by 2.9% during the 4th quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust’s stock valued at $398,000 after purchasing an additional 61 shares during the last quarter. Finally, Sunburst Financial Group LLC grew its holdings in shares of American Tower by 4.9% during the 4th quarter. Sunburst Financial Group LLC now owns 1,354 shares of the real estate investment trust’s stock valued at $248,000 after purchasing an additional 63 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.18% of the company’s stock.

American Tower Stock Performance

AMT opened at $213.42 on Tuesday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The company’s fifty day moving average price is $190.23 and its two-hundred day moving average price is $206.16. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The company has a market cap of $99.77 billion, a price-to-earnings ratio of 90.05, a PEG ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping 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 firm had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the prior year, the company posted $2.29 earnings per share. 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 fiscal year.

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be paid a $1.70 dividend. This is a positive change from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. This represents a $6.80 annualized dividend and a dividend yield of 3.19%. American Tower’s dividend payout ratio is presently 141.37%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AMT. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Barclays reduced their target price on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. The Goldman Sachs Group dropped their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Scotiabank dropped their price target on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research report on Thursday, January 23rd. Finally, Citigroup boosted their price target on shares of American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $226.29.

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.