American Tower Co. (NYSE:AMT) Shares Acquired by London & Capital Asset Management Ltd

London & Capital Asset Management Ltd boosted its position in shares of American Tower Co. (NYSE:AMT) by 2.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 61,542 shares of the real estate investment trust’s stock after acquiring an additional 1,199 shares during the period. London & Capital Asset Management Ltd’s holdings in American Tower were worth $13,286,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Personal Capital Advisors Corp grew its holdings in 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 worth $631,000 after acquiring an additional 43 shares in the last quarter. Lumature Wealth Partners LLC grew its holdings in American Tower by 40.3% during the 1st quarter. Lumature Wealth Partners LLC now owns 174 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 50 shares in the last quarter. Alera Investment Advisors LLC grew its holdings in American Tower by 1.3% during the 4th quarter. Alera Investment Advisors LLC now owns 4,105 shares of the real estate investment trust’s stock worth $886,000 after acquiring an additional 51 shares in the last quarter. McIlrath & Eck LLC grew its holdings in American Tower by 18.5% during the 4th quarter. McIlrath & Eck LLC now owns 333 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 52 shares in the last quarter. Finally, Golden State Equity Partners grew its holdings in American Tower by 7.0% during the 1st quarter. Golden State Equity Partners now owns 806 shares of the real estate investment trust’s stock worth $202,000 after acquiring an additional 53 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AMT. Barclays lifted their price target on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. JPMorgan Chase & Co. decreased their price target on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Mizuho began coverage on shares of American Tower in a report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price target for the company. BMO Capital Markets cut their price objective on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Finally, StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $214.91.

Insider Buying and Selling

In related news, Director Pamela D. A. Reeve sold 5,054 shares of American Tower 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 transaction, the director now owns 18,545 shares in the company, valued at approximately $3,532,080.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Pamela D. A. Reeve sold 5,054 shares of the business’s 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 transaction, the director now owns 18,545 shares in the company, valued at approximately $3,532,080.70. The transaction 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 dated 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 transaction, the chief financial officer now 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 Stock Down 1.2 %

AMT traded down $2.10 on Monday, reaching $177.10. 506,640 shares of the company traded hands, compared to its average volume of 2,368,896. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market cap of $82.59 billion, a price-to-earnings ratio of 56.35, a PEG ratio of 1.24 and a beta of 0.67. The stock’s 50 day moving average price is $193.88 and its 200-day moving average price is $193.57. American Tower Co. has a 52-week low of $154.58 and a 52-week high of $219.10.

American Tower (NYSE:AMT) last released 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). The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.34 EPS. On average, sell-side analysts expect that American Tower Co. will post 10.05 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 issued a $1.62 dividend. The ex-dividend date is Thursday, April 11th. This represents a $6.48 annualized dividend and a yield of 3.66%. American Tower’s dividend payout ratio (DPR) is presently 203.77%.

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.