157,500 Shares in American Tower Co. (NYSE:AMT) Purchased by B&I Capital AG

B&I Capital AG purchased a new position in American Tower Co. (NYSE:AMT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 157,500 shares of the real estate investment trust’s stock, valued at approximately $28,887,000. American Tower makes up 9.4% of B&I Capital AG’s investment portfolio, making the stock its 3rd largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Hara Capital LLC acquired a new position in American Tower in the third quarter worth about $31,000. Roxbury Financial LLC bought a new stake in American Tower during the fourth quarter worth about $32,000. Legacy Investment Solutions LLC bought a new stake in American Tower during the third quarter worth about $34,000. Activest Wealth Management grew its stake in American Tower by 431.0% during the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 125 shares during the last quarter. Finally, Bank of Jackson Hole Trust bought a new stake in American Tower during the fourth quarter worth about $46,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Up 0.8 %

Shares of NYSE AMT opened at $205.61 on Monday. The company’s 50 day simple moving average is $187.09 and its 200 day simple moving average is $206.58. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The firm has a market capitalization of $96.08 billion, a P/E ratio of 86.76, a P/E/G ratio of 1.29 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same period in the prior year, the business posted $2.29 earnings per share. American Tower’s revenue was up 3.7% compared to the same quarter last year. On average, analysts predict that American Tower Co. will post 10.14 EPS for the current year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were issued a $1.62 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.15%. American Tower’s dividend payout ratio is currently 134.72%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AMT. Morgan Stanley decreased their price objective on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. Scotiabank decreased their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research note on Thursday, January 23rd. Mizuho decreased their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Finally, JMP Securities started coverage on shares of American Tower in a research note on Monday, January 27th. They set an “outperform” rating and a $225.00 price target on the stock. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.21.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.18% of the stock is currently owned by company 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.