8,960 Shares in American Tower Co. (REIT) (NYSE:AMT) Bought by TrimTabs Asset Management LLC
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.
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.
See Also: What does RSI mean?
Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Co. (REIT) (NYSE:AMT).
Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.