American Tower Co. (NYSE:AMT) Shares Acquired by OLD National Bancorp IN

OLD National Bancorp IN lifted its holdings in shares of American Tower Co. (NYSE:AMT) by 1.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,680 shares of the real estate investment trust’s stock after purchasing an additional 150 shares during the quarter. OLD National Bancorp IN’s holdings in American Tower were worth $2,090,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Thompson Investment Management Inc. acquired a new position in American Tower in the fourth quarter valued at $29,000. McClarren Financial Advisors Inc. acquired a new position in American Tower in the third quarter valued at $27,000. Emerald Advisers LLC acquired a new position in American Tower in the third quarter valued at $29,000. Valley National Advisers Inc. boosted its holdings in American Tower by 200.0% in the fourth quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 118 shares during the last quarter. Finally, Oakworth Capital Inc. boosted its holdings in American Tower by 157.9% in the fourth quarter. Oakworth Capital Inc. now owns 196 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 120 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Up 0.6 %

Shares of American Tower stock opened at $172.31 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. The firm has a market cap of $80.36 billion, a P/E ratio of 54.19, a P/E/G ratio of 1.35 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 business has a 50-day moving average price of $191.52 and a 200 day moving average price of $194.09.

American Tower (NYSE:AMT) last issued its earnings results 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). American Tower had a net margin of 13.31% and a return on equity of 12.80%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.74 billion. During the same quarter in the previous year, the firm earned $2.34 earnings per share. The business’s revenue was up 3.0% on a year-over-year basis. On average, sell-side analysts forecast that American Tower Co. will post 9.94 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a yield of 3.76%. American Tower’s payout ratio is currently 203.77%.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of research analyst reports. BMO Capital Markets reduced their target price on American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Morgan Stanley raised their price objective on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Mizuho started coverage on American Tower in a research report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price objective on the stock. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, Barclays raised their price objective on American Tower from $224.00 to $234.00 and gave the company 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 assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $217.36.

Insider Buying and Selling at American Tower

In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the transaction, the director now directly owns 18,545 shares in the company, valued at $3,532,080.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 62,969 shares in the company, valued at $12,953,352.99. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was 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 of the company’s stock, valued at $3,532,080.70. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

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.