TRUE Private Wealth Advisors increased its position in shares of American Tower Corp (NYSE:AMT) by 148.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,257 shares of the real estate investment trust’s stock after buying an additional 3,137 shares during the period. TRUE Private Wealth Advisors’ holdings in American Tower were worth $753,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Personal Capital Advisors Corp boosted its holdings in American Tower by 7.7% during the fourth quarter. Personal Capital Advisors Corp now owns 196,078 shares of the real estate investment trust’s stock worth $27,974,000 after buying an additional 14,069 shares in the last quarter. Bartlett & Co. LLC boosted its holdings in American Tower by 9.1% during the fourth quarter. Bartlett & Co. LLC now owns 110,670 shares of the real estate investment trust’s stock worth $15,789,000 after buying an additional 9,275 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in American Tower by 26.6% during the fourth quarter. State of Alaska Department of Revenue now owns 286,011 shares of the real estate investment trust’s stock worth $40,803,000 after buying an additional 60,061 shares in the last quarter. McCollum Christoferson Group LLC purchased a new stake in American Tower during the fourth quarter worth $5,605,000. Finally, Fox Run Management L.L.C. purchased a new stake in American Tower during the fourth quarter worth $579,000. 91.60% of the stock is currently owned by hedge funds and other institutional investors.
American Tower Corp (AMT) opened at $137.62 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.61. The stock has a market cap of $57,977.04, a price-to-earnings ratio of 52.33, a price-to-earnings-growth ratio of 1.40 and a beta of 0.73. American Tower Corp has a twelve month low of $102.73 and a twelve month high of $155.28.
American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.69 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.61 by ($0.92). American Tower had a return on equity of 16.98% and a net margin of 18.63%. equities research analysts predict that American Tower Corp will post 6.53 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Thursday, December 28th were paid a $0.70 dividend. This is an increase from American Tower’s previous quarterly dividend of $0.66. This represents a $2.80 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Wednesday, December 27th. American Tower’s dividend payout ratio (DPR) is currently 106.46%.
American Tower declared that its board has authorized a stock buyback program on Thursday, December 7th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the real estate investment trust to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
A number of brokerages recently issued reports on AMT. Zacks Investment Research raised shares of American Tower from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a report on Tuesday, January 2nd. Oppenheimer increased their price objective on shares of American Tower from $155.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, December 20th. Morgan Stanley reaffirmed an “overweight” rating and set a $172.00 price objective on shares of American Tower in a report on Wednesday, December 13th. ValuEngine downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, KeyCorp reaffirmed an “overweight” rating and set a $177.00 price objective (up from $156.00) on shares of American Tower in a report on Monday, November 27th. One research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $158.60.
In other news, Director Samme L. Thompson sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $143.16, for a total value of $715,800.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director David E. Sharbutt sold 1,584 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $144.44, for a total transaction of $228,792.96. Following the completion of the transaction, the director now directly owns 4,861 shares in the company, valued at $702,122.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,251 shares of company stock worth $11,026,134. Insiders own 0.86% of the company’s stock.
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About American Tower
American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.
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