Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in American Tower Co. (REIT) (NYSE:AMT) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,516,001 shares of the real estate investment trust’s stock after acquiring an additional 13,826 shares during the period. American Tower accounts for approximately 3.8% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings, making the stock its 7th biggest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned approximately 0.34% of American Tower worth $340,282,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Northwest Investment Counselors LLC acquired a new stake in shares of American Tower during the third quarter valued at approximately $28,000. Rockbridge Investment Management LCC bought a new position in American Tower in the second quarter valued at about $30,000. Cordasco Financial Network boosted its holdings in American Tower by 71.1% in the third quarter. Cordasco Financial Network now owns 130 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 54 shares during the last quarter. Founders Capital Management bought a new position in American Tower in the fourth quarter valued at about $34,000. Finally, Dimension Capital Management LLC bought a new position in American Tower in the third quarter valued at about $41,000. 89.97% of the stock is owned by institutional investors.
In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 1,100 shares of the company’s stock in a transaction dated Thursday, December 10th. The stock was sold at an average price of $220.21, for a total value of $242,231.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Samme L. Thompson sold 2,000 shares of the company’s stock in a transaction dated Monday, January 4th. The stock was sold at an average price of $226.07, for a total value of $452,140.00. Following the completion of the transaction, the director now directly owns 22,337 shares of the company’s stock, valued at approximately $5,049,725.59. The disclosure for this sale can be found here. Insiders sold 4,948 shares of company stock valued at $1,119,029 in the last ninety days. Corporate insiders own 0.65% of the company’s stock.
Shares of NYSE:AMT traded down $0.91 during midday trading on Thursday, reaching $215.55. The company had a trading volume of 46,759 shares, compared to its average volume of 2,598,797. The company has a debt-to-equity ratio of 5.73, a current ratio of 1.35 and a quick ratio of 1.35. The stock’s fifty day moving average price is $222.79 and its 200-day moving average price is $241.75. The stock has a market capitalization of $95.75 billion, a P/E ratio of 51.17, a PEG ratio of 1.55 and a beta of 0.25. American Tower Co. has a one year low of $174.32 and a one year high of $272.20.
American Tower (NYSE:AMT) last released its earnings results on Tuesday, November 3rd. The real estate investment trust reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.06). The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.97 billion. American Tower had a net margin of 24.08% and a return on equity of 42.42%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.93 EPS. As a group, sell-side analysts forecast that American Tower Co. will post 8.16 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 2nd. Investors of record on Monday, December 28th will be issued a $1.21 dividend. The ex-dividend date is Thursday, December 24th. This represents a $4.84 annualized dividend and a yield of 2.25%. This is an increase from American Tower’s previous quarterly dividend of $1.14. American Tower’s dividend payout ratio is presently 62.61%.
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 approximately 181,000 communications sites.
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