Catalyst Financial Partners LLC Buys Shares of 1,428 American Tower Co. (NYSE:AMT)

Catalyst Financial Partners LLC bought a new stake in American Tower Co. (NYSE:AMT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,428 shares of the real estate investment trust’s stock, valued at approximately $308,000.

Several other hedge funds have also recently made changes to their positions in AMT. Verdence Capital Advisors LLC grew its position in shares of American Tower by 18.4% in the third quarter. Verdence Capital Advisors LLC now owns 2,063 shares of the real estate investment trust’s stock valued at $339,000 after purchasing an additional 320 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position 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 valued at $23,601,000 after purchasing an additional 3,425 shares in the last quarter. Park Avenue Securities LLC grew its position in shares of American Tower by 4.6% in the third quarter. Park Avenue Securities LLC now owns 23,761 shares of the real estate investment trust’s stock valued at $3,908,000 after purchasing an additional 1,047 shares in the last quarter. Keel Point LLC grew its position in shares of American Tower by 10.6% in the third quarter. Keel Point LLC now owns 1,451 shares of the real estate investment trust’s stock valued at $239,000 after purchasing an additional 139 shares in the last quarter. Finally, Graypoint LLC grew its position in shares of American Tower by 41.7% in the third quarter. Graypoint LLC now owns 1,860 shares of the real estate investment trust’s stock valued at $306,000 after purchasing an additional 547 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AMT has been the subject of several recent research reports. Morgan Stanley lifted their price target on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Scotiabank reduced their target price on American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a research report on Wednesday, May 1st. Raymond James upgraded American Tower from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $226.00 to $248.00 in a research report on Wednesday, May 1st. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, JPMorgan Chase & Co. reduced 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 investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $221.91.

American Tower Price Performance

AMT stock traded up $0.05 during mid-day trading on Wednesday, hitting $181.33. 1,971,396 shares of the stock were exchanged, compared to its average volume of 2,463,047. The company has a debt-to-equity ratio of 3.39, a current ratio of 0.85 and a quick ratio of 0.85. The business has a fifty day moving average price of $188.86 and a 200 day moving average price of $195.09. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10. The stock has a market capitalization of $84.56 billion, a price-to-earnings ratio of 41.02, a PEG ratio of 1.43 and a beta of 0.71.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.47). American Tower had a return on equity of 18.45% and a net margin of 18.42%. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.79 billion. During the same period last year, the firm earned $2.54 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, sell-side analysts anticipate that American Tower Co. will post 9.96 EPS for the current year.

American Tower Cuts Dividend

The business 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. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend was Thursday, April 11th. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

Insider Activity

In other news, Director Robert D. Hormats sold 700 shares of the business’s 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 completion of the sale, the director now owns 7,332 shares of the company’s stock, valued at approximately $1,345,422. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other American Tower news, Director Robert D. Hormats sold 700 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total transaction of $128,450.00. Following the completion of the transaction, the director now owns 7,332 shares of the company’s stock, valued at approximately $1,345,422. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Rodney M. Smith sold 11,510 shares of the company’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 value of $2,367,722.10. Following the transaction, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,264 shares of company stock valued at $3,458,757. Insiders own 0.18% of the company’s stock.

American Tower Company 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.