Telemus Capital LLC increased its holdings in shares of American Tower Co. (NYSE:AMT – Get Rating) by 3.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 28,547 shares of the real estate investment trust’s stock after acquiring an additional 857 shares during the period. Telemus Capital LLC’s holdings in American Tower were worth $6,237,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of AMT. EWG Elevate Inc. acquired a new stake in American Tower in the 4th quarter worth about $25,000. Pinnacle Holdings LLC purchased a new position in American Tower in the 1st quarter worth approximately $29,000. Activest Wealth Management lifted its stake in American Tower by 379.3% in the 3rd quarter. Activest Wealth Management now owns 139 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 110 shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in American Tower in the 2nd quarter worth approximately $30,000. Finally, Tortoise Investment Management LLC raised its position in shares of American Tower by 76.8% during the 3rd quarter. Tortoise Investment Management LLC now owns 145 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 63 shares during the period. 89.65% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Samme L. Thompson sold 1,739 shares of the firm’s stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $218.59, for a total transaction of $380,128.01. Following the sale, the director now owns 22,099 shares in the company, valued at $4,830,620.41. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Samme L. Thompson sold 1,739 shares of the firm’s stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $218.59, for a total transaction of $380,128.01. Following the sale, the director now owns 22,099 shares in the company, valued at $4,830,620.41. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Rodney M. Smith sold 2,035 shares of the firm’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $220.85, for a total transaction of $449,429.75. Following the sale, the chief financial officer now owns 48,645 shares in the company, valued at approximately $10,743,248.25. The disclosure for this sale can be found here. Insiders have sold 8,587 shares of company stock worth $1,947,849 over the last ninety days. 0.24% of the stock is currently owned by insiders.
American Tower Trading Down 1.8 %
American Tower (NYSE:AMT – Get Rating) last issued its earnings results on Thursday, February 23rd. The real estate investment trust reported ($1.47) earnings per share for the quarter, missing the consensus estimate of $2.16 by ($3.63). American Tower had a return on equity of 15.80% and a net margin of 16.49%. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.68 billion. During the same quarter in the previous year, the company posted $2.18 earnings per share. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. Equities research analysts expect that American Tower Co. will post 9.24 EPS for the current year.
American Tower Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, April 14th will be given a $1.56 dividend. The ex-dividend date is Thursday, April 13th. This represents a $6.24 annualized dividend and a dividend yield of 3.10%. American Tower’s dividend payout ratio is presently 162.50%.
Wall Street Analysts Forecast Growth
AMT has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of American Tower from $254.00 to $245.00 in a research report on Tuesday, March 7th. Barclays cut their target price on American Tower from $247.00 to $246.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 8th. Credit Suisse Group cut their target price on American Tower from $251.00 to $244.00 and set an “outperform” rating on the stock in a research report on Friday, February 24th. StockNews.com assumed coverage on shares of American Tower in a research note on Thursday. They issued a “hold” rating for the company. Finally, Truist Financial dropped their price target on shares of American Tower from $325.00 to $275.00 and set a “buy” rating for the company in a research note on Friday, January 13th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $260.31.
About American Tower
American Tower Corp. provides real estate investment services, and owns, operates, and develops multi-tenant real estate properties. It offers leasing of space on communications sites to wireless service providers, radio and television broadcast companies. It operates through the following segments: U.S.
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