American Tower Co. (NYSE:AMT) Shares Acquired by TCG Advisory Services LLC

TCG Advisory Services LLC grew its stake in American Tower Co. (NYSE:AMT) by 1,004.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,110 shares of the real estate investment trust’s stock after purchasing an additional 18,290 shares during the quarter. TCG Advisory Services LLC’s holdings in American Tower were worth $4,341,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AMT. Vestmark Advisory Solutions Inc. lifted its stake in shares of American Tower by 18.9% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 10,716 shares of the real estate investment trust’s stock worth $2,313,000 after buying an additional 1,707 shares in the last quarter. AJOVista LLC purchased a new position in shares of American Tower in the fourth quarter worth about $188,000. Legacy Financial Advisors Inc. purchased a new position in shares of American Tower in the fourth quarter worth about $235,000. Knuff & Co LLC lifted its stake in shares of American Tower by 0.5% in the fourth quarter. Knuff & Co LLC now owns 22,502 shares of the real estate investment trust’s stock worth $4,858,000 after buying an additional 123 shares in the last quarter. Finally, One Charles Private Wealth Services LLC lifted its stake in shares of American Tower by 7.8% in the fourth quarter. One Charles Private Wealth Services LLC now owns 2,477 shares of the real estate investment trust’s stock worth $535,000 after buying an additional 180 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the transaction, the chief financial officer now owns 62,969 shares in the company, valued at $12,953,352.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the completion of the transaction, the chief financial officer now owns 62,969 shares in the company, valued at approximately $12,953,352.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction that occurred 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 owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

American Tower Trading Up 1.2 %

Shares of American Tower stock traded up $2.10 on Friday, reaching $181.74. The company had a trading volume of 3,130,327 shares, compared to its average volume of 2,879,452. The firm’s 50 day moving average price is $189.15 and its two-hundred day moving average price is $194.39. The firm has a market cap of $84.75 billion, a PE ratio of 41.12, a PEG ratio of 1.43 and a beta of 0.71. American Tower Co. has a 52-week low of $154.58 and a 52-week high of $219.10. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.69 and a current ratio of 0.85.

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 for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.54 EPS. Sell-side analysts predict that American Tower Co. will post 9.96 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date was Thursday, April 11th. American Tower’s dividend payout ratio (DPR) is currently 146.61%.

Wall Street Analyst Weigh In

A number of brokerages have commented on AMT. JPMorgan Chase & Co. reduced their target price on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. Raymond James raised shares of American Tower from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $226.00 to $248.00 in a research note on Wednesday. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Barclays lifted their target price on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Finally, Scotiabank reduced their target price on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating on the stock in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $221.91.

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.