1,125 Shares in American Tower Co. (NYSE:AMT) Acquired by Patrick M Sweeney & Associates Inc.

Patrick M Sweeney & Associates Inc. bought a new stake in shares of American Tower Co. (NYSE:AMT) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,125 shares of the real estate investment trust’s stock, valued at approximately $243,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lindbrook Capital LLC grew its stake in shares of American Tower by 5.0% during the third quarter. Lindbrook Capital LLC now owns 2,266 shares of the real estate investment trust’s stock valued at $373,000 after buying an additional 108 shares during the last quarter. Verdence Capital Advisors LLC increased its stake in American Tower by 18.4% in the 3rd quarter. Verdence Capital Advisors LLC now owns 2,063 shares of the real estate investment trust’s stock worth $339,000 after purchasing an additional 320 shares during the period. Mackenzie Financial Corp lifted its position in American Tower by 3.2% in the third quarter. Mackenzie Financial Corp now owns 215,248 shares of the real estate investment trust’s stock valued at $34,031,000 after purchasing an additional 6,612 shares during the last quarter. Value Partners Investments Inc. grew its holdings in shares of American Tower by 2.0% in the third quarter. Value Partners Investments Inc. now owns 31,073 shares of the real estate investment trust’s stock worth $5,114,000 after purchasing an additional 606 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of American Tower by 2.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 143,516 shares of the real estate investment trust’s stock worth $23,601,000 after buying an additional 3,425 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 1.5 %

Shares of NYSE AMT traded up $2.66 on Tuesday, reaching $181.35. 2,594,849 shares of the company’s stock traded hands, compared to its average volume of 2,468,563. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.39. The business’s 50 day simple moving average is $188.86 and its two-hundred day simple moving average is $195.09. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10. The company has a market cap of $84.57 billion, a price-to-earnings ratio of 41.03, a price-to-earnings-growth ratio of 1.43 and a beta of 0.71.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). American Tower had a net margin of 18.42% and a return on equity of 18.45%. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter in the previous year, the firm posted $2.54 EPS. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, equities research analysts forecast that American Tower Co. will post 9.96 EPS for the current fiscal year.

American Tower Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were paid a $1.62 dividend. The ex-dividend date was Thursday, April 11th. This represents a $6.48 annualized dividend and a dividend yield of 3.57%. American Tower’s dividend payout ratio is presently 146.61%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. BMO Capital Markets reduced their price target on American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Scotiabank dropped their price objective on American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a report on Wednesday, May 1st. Barclays boosted their target price on American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Finally, StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, American Tower currently has an average rating of “Moderate Buy” and a consensus price target of $221.91.

Insider Buying and Selling at American Tower

In other news, Director Pamela D. A. Reeve sold 5,054 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total transaction of $962,584.84. Following the transaction, the director now directly owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other American Tower news, Director Robert D. Hormats sold 700 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $183.50, for a total value of $128,450.00. Following the transaction, the director now owns 7,332 shares of the company’s stock, valued at $1,345,422. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the sale, the director now owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,264 shares of company stock worth $3,458,757. 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.