Account Management LLC Invests $2.66 Million in American Tower Co. (NYSE:AMT)

Account Management LLC bought a new position in shares of American Tower Co. (NYSE:AMT) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 12,325 shares of the real estate investment trust’s stock, valued at approximately $2,661,000. American Tower accounts for approximately 3.2% of Account Management LLC’s investment portfolio, making the stock its 11th largest holding.

A number of other large investors also recently made changes to their positions in the company. Jennison Associates LLC increased its stake in shares of American Tower by 41.0% in the 4th quarter. Jennison Associates LLC now owns 5,299,306 shares of the real estate investment trust’s stock valued at $1,144,014,000 after purchasing an additional 1,541,029 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of American Tower by 2,329.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 1,329,779 shares of the real estate investment trust’s stock valued at $218,682,000 after purchasing an additional 1,275,052 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of American Tower by 16,195.9% in the 4th quarter. International Assets Investment Management LLC now owns 849,340 shares of the real estate investment trust’s stock valued at $1,833,560,000 after purchasing an additional 844,128 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of American Tower by 5.6% in the 3rd quarter. Wellington Management Group LLP now owns 12,984,052 shares of the real estate investment trust’s stock valued at $2,135,227,000 after purchasing an additional 691,934 shares during the last quarter. Finally, Clearbridge Investments LLC increased its stake in shares of American Tower by 22.9% in the 3rd quarter. Clearbridge Investments LLC now owns 3,255,988 shares of the real estate investment trust’s stock valued at $535,447,000 after purchasing an additional 607,199 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AMT shares. JPMorgan Chase & Co. decreased their price target on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research note 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 report on Monday, April 15th. Barclays raised their price objective on American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Finally, BMO Capital Markets cut their price objective on American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $217.36.

Insider Activity at American Tower

In related news, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction dated 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 sale, 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 filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Pamela D. A. Reeve sold 5,054 shares of the 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 sale, the director now directly owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the sale, 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 currently owned by corporate insiders.

American Tower Trading Down 0.7 %

Shares of NYSE:AMT traded down $1.21 during midday trading on Friday, reaching $171.69. The company’s stock had a trading volume of 1,701,397 shares, compared to its average volume of 2,597,943. The firm has a market capitalization of $80.07 billion, a price-to-earnings ratio of 53.99, a PEG ratio of 1.36 and a beta of 0.67. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a 50 day moving average price of $190.29 and a two-hundred day moving average price of $194.22. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $219.10.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.34 earnings per share. As a group, analysts forecast that American Tower Co. will post 9.94 earnings per share for the current year.

American Tower Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date was Thursday, April 11th. American Tower’s payout ratio is 203.77%.

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.