American Tower Co. (NYSE:AMT) Stock Position Raised by Delta Financial Advisors LLC

Delta Financial Advisors LLC lifted its position in American Tower Co. (NYSE:AMT) by 3.7% in the 4th quarter, Holdings Channel reports. The fund owned 1,981 shares of the real estate investment trust’s stock after buying an additional 70 shares during the period. Delta Financial Advisors LLC’s holdings in American Tower were worth $428,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Personal Capital Advisors Corp lifted its position in American Tower by 1.7% in the 1st quarter. Personal Capital Advisors Corp now owns 2,510 shares of the real estate investment trust’s stock worth $631,000 after buying an additional 43 shares in the last quarter. Lumature Wealth Partners LLC increased its stake in shares of 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 purchasing an additional 50 shares during the last quarter. Alera Investment Advisors LLC increased its stake in shares of 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 purchasing an additional 51 shares during the last quarter. McIlrath & Eck LLC increased its stake in shares of 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 purchasing an additional 52 shares during the last quarter. Finally, Golden State Equity Partners increased its stake in shares of 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 purchasing an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

NYSE AMT traded down $0.38 during midday trading on Thursday, hitting $171.64. The company had a trading volume of 977,718 shares, compared to its average volume of 2,401,775. The firm has a fifty day simple moving average of $192.83 and a two-hundred day simple moving average of $193.58. The stock has a market cap of $80.04 billion, a price-to-earnings ratio of 54.09, a P/E/G ratio of 1.42 and a beta of 0.67. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $219.10. 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 released its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS 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 return on equity of 12.80% and a net margin of 13.31%. American Tower’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.34 earnings per share. Equities analysts forecast that American Tower Co. will post 10.06 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date is Thursday, April 11th. American Tower’s payout ratio is 203.77%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. Mizuho initiated coverage on shares of American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price on the stock. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Morgan Stanley raised their target price on shares of American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, Barclays raised their price target on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and a consensus target price of $217.36.

Insider Transactions at American Tower

In other 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 transaction of $962,584.84. Following the completion of the transaction, the director now directly owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Pamela D. A. Reeve sold 5,054 shares of American Tower 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 transaction, the director now directly owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Rodney M. Smith sold 11,510 shares of American Tower 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 transaction, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

American Tower Company 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.