Jacobs & Co. CA Raises Holdings in American Tower Co. (NYSE:AMT)

Jacobs & Co. CA lifted its holdings in shares of American Tower Co. (NYSE:AMT) by 9.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,551 shares of the real estate investment trust’s stock after purchasing an additional 1,380 shares during the period. Jacobs & Co. CA’s holdings in American Tower were worth $3,357,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Personal Capital Advisors Corp lifted its holdings in shares of American Tower by 1.7% during the 1st quarter. Personal Capital Advisors Corp now owns 2,510 shares of the real estate investment trust’s stock valued at $631,000 after acquiring an additional 43 shares in the last quarter. Lumature Wealth Partners LLC lifted its holdings in American Tower by 40.3% in the 1st quarter. Lumature Wealth Partners LLC now owns 174 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 50 shares in the last quarter. McIlrath & Eck LLC lifted its holdings in American Tower by 18.5% in the 4th quarter. McIlrath & Eck LLC now owns 333 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 52 shares in the last quarter. Golden State Equity Partners raised its stake in shares of American Tower by 7.0% in the 1st quarter. Golden State Equity Partners now owns 806 shares of the real estate investment trust’s stock valued at $202,000 after purchasing an additional 53 shares in the last quarter. Finally, GeoWealth Management LLC raised its stake in shares of American Tower by 17.8% in the 1st quarter. GeoWealth Management LLC now owns 358 shares of the real estate investment trust’s stock valued at $73,000 after purchasing an additional 54 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Performance

Shares of AMT opened at $197.40 on Thursday. The company’s fifty day moving average is $196.36 and its 200-day moving average is $192.05. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10. The firm has a market cap of $92.06 billion, a price-to-earnings ratio of 62.08, a price-to-earnings-growth 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 (NYSE:AMT) last announced its quarterly 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 return on equity of 12.80% and a net margin of 13.31%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same quarter last year, the company earned $2.34 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities analysts expect that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Thursday, April 11th. American Tower’s dividend payout ratio (DPR) is currently 213.84%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. HSBC began coverage on shares of American Tower in a research report on Thursday, December 14th. They set a “buy” rating and a $245.00 price objective for the company. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. BMO Capital Markets cut their target price on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. Barclays increased their target price on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Finally, JPMorgan Chase & Co. reduced their price target 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. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $217.55.

Insider Buying and Selling

In related news, Director Pamela D. A. Reeve sold 5,054 shares of the 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 completion of the sale, the director now owns 18,545 shares in the company, valued at approximately $3,532,080.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were 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 owns 18,545 shares in the company, valued at approximately $3,532,080.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were 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 owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

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.