Account Management LLC Has $3.49 Million Position in American Tower Co. (NYSE:AMT)

Account Management LLC raised its stake in shares of American Tower Co. (NYSE:AMT) by 0.7% in the 4th quarter, Holdings Channel reports. The firm owned 19,050 shares of the real estate investment trust’s stock after purchasing an additional 125 shares during the quarter. American Tower accounts for 4.1% of Account Management LLC’s investment portfolio, making the stock its 8th largest holding. Account Management LLC’s holdings in American Tower were worth $3,494,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Financial Engines Advisors L.L.C. acquired a new position in shares of American Tower in the 4th quarter valued at about $1,068,000. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of American Tower by 3.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,803 shares of the real estate investment trust’s stock valued at $1,248,000 after acquiring an additional 227 shares in the last quarter. Prestige Wealth Management Group LLC boosted its stake in American Tower by 7.8% during the fourth quarter. Prestige Wealth Management Group LLC now owns 6,443 shares of the real estate investment trust’s stock worth $1,192,000 after acquiring an additional 467 shares in the last quarter. TIAA Trust National Association boosted its position in shares of American Tower by 2.9% during the 4th quarter. TIAA Trust National Association now owns 78,921 shares of the real estate investment trust’s stock worth $14,475,000 after purchasing an additional 2,233 shares in the last quarter. Finally, Modern Wealth Management LLC bought a new stake in American Tower in the 4th quarter valued at about $918,000. Institutional investors own 92.69% of the company’s stock.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.

American Tower Trading Down 1.6 %

Shares of American Tower stock opened at $209.44 on Wednesday. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The firm’s 50 day simple moving average is $197.32 and its two-hundred day simple moving average is $204.91. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market capitalization of $97.90 billion, a price-to-earnings ratio of 88.37, a PEG ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.83. The company had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.29 EPS. Analysts predict that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.25%. This is an increase from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. American Tower’s payout ratio is 141.37%.

Analysts Set New Price Targets

A number of research firms have issued reports on AMT. Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Morgan Stanley lowered their target price on American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. BMO Capital Markets lifted their price objective on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Barclays increased their price target on shares of American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Finally, The Goldman Sachs Group decreased their target price on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $229.43.

About American Tower

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.