Neuberger Berman Group LLC lessened its stake in shares of American Tower Co. (NYSE:AMT) by 2.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,680,763 shares of the real estate investment trust’s stock after selling 36,596 shares during the period. Neuberger Berman Group LLC owned 0.38% of American Tower worth $244,837,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Pinebridge Investments L.P. acquired a new stake in shares of American Tower in the fourth quarter worth $182,000. Centaurus Financial Inc. acquired a new stake in shares of American Tower in the first quarter worth $197,000. SNS Financial Group LLC acquired a new stake in shares of American Tower in the fourth quarter worth $201,000. Moors & Cabot Inc. acquired a new stake in shares of American Tower in the fourth quarter worth $204,000. Finally, Resources Investment Advisors Inc. grew its stake in shares of American Tower by 51.1% in the fourth quarter. Resources Investment Advisors Inc. now owns 1,428 shares of the real estate investment trust’s stock worth $203,000 after acquiring an additional 483 shares during the last quarter. Institutional investors own 89.74% of the company’s stock.
Several equities research analysts have recently issued reports on AMT shares. Zacks Investment Research upgraded shares of American Tower from a “sell” rating to a “hold” rating in a research note on Tuesday, April 3rd. Morgan Stanley lowered their price objective on shares of American Tower from $161.00 to $157.00 and set an “overweight” rating on the stock in a research note on Friday, March 16th. KeyCorp set a $171.00 price objective on shares of American Tower and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Citigroup lowered their price objective on shares of American Tower from $169.00 to $162.00 and set a “buy” rating on the stock in a research note on Monday, March 5th. Finally, ValuEngine downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Friday, April 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $160.38.
In other American Tower news, EVP Amit Sharma sold 32,943 shares of American Tower stock in a transaction on Monday, April 16th. The stock was sold at an average price of $138.82, for a total transaction of $4,573,147.26. Following the completion of the transaction, the executive vice president now directly owns 111,558 shares of the company’s stock, valued at $15,486,481.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP William H. Hess sold 28,291 shares of American Tower stock in a transaction on Monday, March 12th. The shares were sold at an average price of $145.28, for a total value of $4,110,116.48. Following the transaction, the executive vice president now directly owns 92,721 shares of the company’s stock, valued at $13,470,506.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,579 shares of company stock valued at $9,319,595. 0.87% of the stock is owned by company insiders.
Shares of American Tower opened at $138.29 on Tuesday, Marketbeat reports. The firm has a market capitalization of $61.33 billion, a P/E ratio of 20.63, a PEG ratio of 1.57 and a beta of 0.77. American Tower Co. has a one year low of $137.49 and a one year high of $139.43. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.83 and a quick ratio of 0.83.
American Tower (NYSE:AMT) last issued its earnings results on Tuesday, May 1st. The real estate investment trust reported $0.63 EPS for the quarter, missing the consensus estimate of $1.68 by ($1.05). The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.73 billion. American Tower had a return on equity of 17.03% and a net margin of 17.51%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the business earned $1.68 earnings per share. sell-side analysts predict that American Tower Co. will post 7.05 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, April 27th. Investors of record on Wednesday, April 11th were given a $0.75 dividend. This is a boost from American Tower’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Tuesday, April 10th. American Tower’s dividend payout ratio (DPR) is 47.02%.
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 150,000 communications sites. For more information about American Tower, please visit the ?Earnings Materials? and ?Company & Industry Resources? sections of our investor relations website at www.americantower.com.
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