Clear Harbor Asset Management LLC Increases Position in American Tower Co. (NYSE:AMT)

Clear Harbor Asset Management LLC boosted its holdings in American Tower Co. (NYSE:AMT) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,229 shares of the real estate investment trust’s stock after purchasing an additional 526 shares during the period. Clear Harbor Asset Management LLC’s holdings in American Tower were worth $4,583,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in American Tower by 0.3% in the third quarter. Vanguard Group Inc. now owns 60,930,583 shares of the real estate investment trust’s stock valued at $10,020,034,000 after acquiring an additional 196,942 shares in the last quarter. State Street Corp raised its stake in shares of American Tower by 0.4% in the 2nd quarter. State Street Corp now owns 20,401,179 shares of the real estate investment trust’s stock valued at $3,987,902,000 after purchasing an additional 77,155 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of American Tower by 5.6% during the third quarter. Wellington Management Group LLP now owns 12,984,052 shares of the real estate investment trust’s stock worth $2,135,227,000 after purchasing an additional 691,934 shares during the last quarter. Moneta Group Investment Advisors LLC grew its stake in American Tower by 101,474.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,474,342 shares of the real estate investment trust’s stock worth $2,219,094,000 after purchasing an additional 10,464,030 shares in the last quarter. Finally, Cohen & Steers Inc. increased its holdings in American Tower by 44.2% in the second quarter. Cohen & Steers Inc. now owns 9,842,980 shares of the real estate investment trust’s stock valued at $1,908,844,000 after buying an additional 3,016,160 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMT has been the subject of several research reports. JPMorgan Chase & Co. decreased 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. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. HSBC started coverage on shares of American Tower in a report on Thursday, December 14th. They set a “buy” rating and a $245.00 target price on the stock. Barclays boosted their price objective on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Finally, BMO Capital Markets cut their target price on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $217.55.

Insider Activity at American Tower

In other American Tower news, 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 transaction of $962,584.84. Following the sale, the director now directly owns 18,545 shares in the company, valued at approximately $3,532,080.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction on Wednesday, March 6th. The stock was 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 directly owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction 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 directly owns 18,545 shares in the company, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

American Tower Stock Performance

NYSE AMT traded up $0.21 on Thursday, hitting $197.59. The stock had a trading volume of 2,168,358 shares, compared to its average volume of 2,337,216. The company’s 50-day moving average is $196.21 and its two-hundred day moving average is $192.09. The stock has a market cap of $92.15 billion, a price-to-earnings ratio of 62.14, a P/E/G ratio of 1.34 and a beta of 0.68. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. American Tower Co. has a one year low of $154.58 and a one year high of $219.10.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS 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 during the quarter, compared to analyst estimates of $2.74 billion. During the same quarter in the prior year, the business earned $2.34 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. On average, analysts expect that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Thursday, April 11th. American Tower’s payout ratio is currently 213.84%.

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.