American Tower Co. (NYSE:AMT) Shares Purchased by Golden State Equity Partners

Golden State Equity Partners boosted its holdings in American Tower Co. (NYSE:AMT) by 15.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,429 shares of the real estate investment trust’s stock after purchasing an additional 331 shares during the quarter. Golden State Equity Partners’ holdings in American Tower were worth $524,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Cross Staff Investments Inc boosted its holdings in shares of American Tower by 5.1% during the fourth quarter. Cross Staff Investments Inc now owns 5,027 shares of the real estate investment trust’s stock valued at $1,085,000 after acquiring an additional 244 shares during the period. Gateway Investment Advisers LLC lifted its holdings in American Tower by 57.7% in the fourth quarter. Gateway Investment Advisers LLC now owns 35,751 shares of the real estate investment trust’s stock worth $7,718,000 after purchasing an additional 13,074 shares during the period. Victory Capital Management Inc. lifted its holdings in American Tower by 0.5% in the third quarter. Victory Capital Management Inc. now owns 177,288 shares of the real estate investment trust’s stock worth $29,155,000 after purchasing an additional 806 shares during the period. PDS Planning Inc lifted its holdings in American Tower by 16.1% in the third quarter. PDS Planning Inc now owns 1,821 shares of the real estate investment trust’s stock worth $299,000 after purchasing an additional 253 shares during the period. Finally, FAS Wealth Partners Inc. acquired a new stake in American Tower in the fourth quarter worth about $2,001,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In related news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the transaction, the chief financial officer now owns 62,969 shares in the company, valued at $12,953,352.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the transaction, the chief financial officer now owns 62,969 shares in the company, valued at $12,953,352.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the transaction, the director now owns 18,545 shares in the company, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

American Tower Stock Down 0.7 %

NYSE:AMT traded down $1.21 on Friday, hitting $171.69. 1,701,397 shares of the company’s stock traded hands, compared to its average volume of 2,597,943. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.29. American Tower Co. has a 1 year low of $154.58 and a 1 year high of $219.10. The firm has a 50-day moving average price of $190.29 and a 200-day moving average price of $193.97. The company has a market cap of $80.07 billion, a PE ratio of 53.97, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($1.16). American Tower had a net margin of 13.31% and a return on equity of 12.80%. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same period last year, the firm earned $2.34 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. Equities analysts anticipate that American Tower Co. will post 9.94 EPS for the current fiscal year.

American Tower Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were paid a dividend of $1.62 per share. The ex-dividend date was Thursday, April 11th. This represents a $6.48 annualized dividend and a yield of 3.77%. American Tower’s dividend payout ratio (DPR) is presently 203.77%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AMT shares. Barclays upped their price objective on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. BMO Capital Markets dropped their price target on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Mizuho assumed coverage on shares of American Tower in a research report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price target on the stock. Finally, Morgan Stanley boosted their price objective on American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $217.36.

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.