Disciplined Equity Management Inc. Invests $86,000 in American Tower Co. (NYSE:AMT)

Disciplined Equity Management Inc. acquired a new position in shares of American Tower Co. (NYSE:AMT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 400 shares of the real estate investment trust’s stock, valued at approximately $86,000.

Several other institutional investors have also recently added to or reduced their stakes in AMT. Jennison Associates LLC lifted its holdings in American Tower by 41.0% during the 4th quarter. Jennison Associates LLC now owns 5,299,306 shares of the real estate investment trust’s stock valued at $1,144,014,000 after purchasing an additional 1,541,029 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in American Tower by 2,329.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 1,329,779 shares of the real estate investment trust’s stock valued at $218,682,000 after purchasing an additional 1,275,052 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in American Tower by 16,195.9% during the 4th quarter. International Assets Investment Management LLC now owns 849,340 shares of the real estate investment trust’s stock valued at $1,833,560,000 after purchasing an additional 844,128 shares during the last quarter. Wellington Management Group LLP lifted its holdings in American Tower by 5.6% during the 3rd quarter. Wellington Management Group LLP now owns 12,984,052 shares of the real estate investment trust’s stock valued at $2,135,227,000 after purchasing an additional 691,934 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in American Tower by 22.9% during the 3rd quarter. Clearbridge Investments LLC now owns 3,255,988 shares of the real estate investment trust’s stock valued at $535,447,000 after purchasing an additional 607,199 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Morgan Stanley raised their price objective on shares of American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. JPMorgan Chase & Co. lowered their price objective on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. BMO Capital Markets lowered their price objective on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating for the company 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 set a “neutral” rating and a $205.00 price target for the company. Finally, Barclays lifted their price target on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $217.36.

Insider Buying and Selling at American Tower

In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction that occurred 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 transaction, the director now owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Pamela D. A. Reeve sold 5,054 shares of the business’s 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 sale, the director now owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Rodney M. Smith sold 11,510 shares of the business’s 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 sale, the chief financial officer now directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

American Tower Trading Down 0.5 %

American Tower stock traded down $0.83 during midday trading on Wednesday, hitting $173.35. 2,873,211 shares of the stock were exchanged, compared to its average volume of 2,437,123. The company has a fifty day simple moving average of $190.93 and a two-hundred day simple moving average of $194.05. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $219.10. The stock has a market capitalization of $80.84 billion, a PE ratio of 54.51, a P/E/G ratio of 1.36 and a beta of 0.67. 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 (NYSE:AMT) last announced its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). American Tower had a net margin of 13.31% and a return on equity of 12.80%. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the previous year, the firm posted $2.34 EPS. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities research analysts anticipate that American Tower Co. will post 9.94 EPS for the current fiscal year.

American Tower Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date is Thursday, April 11th. American Tower’s payout ratio is currently 203.77%.

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.