TrimTabs Asset Management LLC bought a new position in shares of American Tower Co. (REIT) (NYSE:AMT) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 8,960 shares of the real estate investment trust’s stock, valued at approximately $2,139,000. American Tower comprises 1.1% of TrimTabs Asset Management LLC’s holdings, making the stock its 15th biggest position.

A number of other hedge funds have also made changes to their positions in the stock. Jacobs & Co. CA acquired a new stake in American Tower during the 1st quarter worth about $2,000,000. Canandaigua National Corp lifted its position in American Tower by 1.0% during the 1st quarter. Canandaigua National Corp now owns 6,938 shares of the real estate investment trust’s stock worth $1,659,000 after acquiring an additional 71 shares during the period. Fulton Bank N.A. lifted its position in American Tower by 3.5% during the 1st quarter. Fulton Bank N.A. now owns 5,303 shares of the real estate investment trust’s stock worth $1,268,000 after acquiring an additional 179 shares during the period. Park National Corp OH lifted its position in American Tower by 1.9% during the 1st quarter. Park National Corp OH now owns 39,758 shares of the real estate investment trust’s stock worth $9,505,000 after acquiring an additional 730 shares during the period. Finally, SWS Partners acquired a new stake in American Tower during the 4th quarter worth about $1,244,000. Hedge funds and other institutional investors own 89.97% of the company’s stock.

In other American Tower news, EVP Olivier Puech sold 3,268 shares of the business’s stock in a transaction that occurred on Tuesday, March 16th. The stock was sold at an average price of $220.00, for a total transaction of $718,960.00. Following the completion of the sale, the executive vice president now directly owns 19,531 shares in the company, valued at approximately $4,296,820. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.65% of the stock is currently owned by insiders.

NYSE AMT traded down $1.64 during trading hours on Thursday, reaching $243.07. The company’s stock had a trading volume of 18,701 shares, compared to its average volume of 2,344,672. The firm has a market capitalization of $108.02 billion, a price-to-earnings ratio of 57.85, a P/E/G ratio of 1.57 and a beta of 0.25. American Tower Co. has a 1-year low of $197.50 and a 1-year high of $272.20. The company has a debt-to-equity ratio of 5.73, a current ratio of 1.35 and a quick ratio of 1.35. The company’s 50-day moving average is $222.85 and its two-hundred day moving average is $228.80.

American Tower (NYSE:AMT) last released its quarterly earnings results on Wednesday, February 24th. The real estate investment trust reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.45). The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.07 billion. American Tower had a return on equity of 42.42% and a net margin of 24.08%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.95 EPS. Equities analysts forecast that American Tower Co. will post 8.16 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 29th. Shareholders of record on Tuesday, April 13th will be paid a dividend of $1.24 per share. This is a positive change from American Tower’s previous quarterly dividend of $1.21. This represents a $4.96 annualized dividend and a yield of 2.04%. The ex-dividend date is Monday, April 12th. American Tower’s payout ratio is 62.61%.

AMT has been the subject of a number of research reports. Raymond James lowered their price target on American Tower from $258.00 to $244.00 and set an “outperform” rating for the company in a research report on Thursday, March 4th. Wolfe Research began coverage on American Tower in a report on Thursday, March 18th. They issued an “outperform” rating for the company. Cowen decreased their price objective on American Tower from $334.00 to $324.00 and set an “outperform” rating for the company in a report on Friday, February 26th. Zacks Investment Research cut American Tower from a “buy” rating to a “hold” rating and set a $227.00 price objective for the company. in a report on Tuesday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft cut American Tower from a “buy” rating to a “hold” rating and decreased their price objective for the company from $295.00 to $245.00 in a report on Friday, December 11th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $270.55.

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 approximately 181,000 communications sites.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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