American Tower Co. (NYSE:AMT) Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC lessened its position in American Tower Co. (NYSE:AMT) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 148,605 shares of the real estate investment trust’s stock after selling 775 shares during the period. Calamos Advisors LLC’s holdings in American Tower were worth $32,081,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of AMT. Tilt Investment Management Holdings PBC acquired a new stake in shares of American Tower in the fourth quarter valued at approximately $407,000. Cambridge Trust Co. increased its position in American Tower by 28.8% in the 4th quarter. Cambridge Trust Co. now owns 86,915 shares of the real estate investment trust’s stock valued at $18,763,000 after acquiring an additional 19,450 shares during the period. Delta Financial Advisors LLC increased its position in American Tower by 3.7% in the 4th quarter. Delta Financial Advisors LLC now owns 1,981 shares of the real estate investment trust’s stock valued at $428,000 after acquiring an additional 70 shares during the period. Federated Hermes Inc. raised its stake in American Tower by 6.8% during the 4th quarter. Federated Hermes Inc. now owns 522,330 shares of the real estate investment trust’s stock valued at $112,761,000 after acquiring an additional 33,477 shares in the last quarter. Finally, Tufton Capital Management boosted its position in American Tower by 3.1% during the 4th quarter. Tufton Capital Management now owns 2,010 shares of the real estate investment trust’s stock worth $434,000 after acquiring an additional 60 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Insider Activity at American Tower

In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the firm’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 value of $962,584.84. Following the completion of the sale, the director now owns 18,545 shares in the company, valued at approximately $3,532,080.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction on Wednesday, February 28th. The shares were 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction dated 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 sale, the chief financial officer now owns 62,969 shares in the company, valued at $12,953,352.99. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AMT shares. Barclays lifted their price objective on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Morgan Stanley boosted their price target on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research report on Monday. Mizuho assumed coverage on shares of American Tower in a report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price objective for the company. BMO Capital Markets lowered their price objective on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. cut their target price on American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.36.

American Tower Trading Down 0.6 %

Shares of NYSE:AMT traded down $1.02 during midday trading on Thursday, reaching $171.00. The company had a trading volume of 2,267,718 shares, compared to its average volume of 2,419,971. The company has a fifty day simple moving average of $192.83 and a two-hundred day simple moving average of $193.58. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market cap of $79.75 billion, a price-to-earnings ratio of 54.09, a price-to-earnings-growth ratio of 1.42 and a beta of 0.67. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the business earned $2.34 EPS. Research analysts predict that American Tower Co. will post 10.06 earnings per share for the current year.

American Tower Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date is Thursday, April 11th. American Tower’s dividend payout ratio (DPR) is presently 203.77%.

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.