American Tower Co. (NYSE:AMT) Stock Holdings Decreased by Summit Financial LLC

Summit Financial LLC decreased its stake in shares of American Tower Co. (NYSE:AMT) by 25.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,526 shares of the real estate investment trust’s stock after selling 3,227 shares during the period. Summit Financial LLC’s holdings in American Tower were worth $1,763,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of AMT. Partners Group Holding AG lifted its holdings in American Tower by 8.3% during the 4th quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust’s stock worth $69,438,000 after buying an additional 28,988 shares during the last quarter. Nordea Investment Management AB boosted its holdings in American Tower by 28.5% in the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after purchasing an additional 314,769 shares during the period. TigerOak Management L.L.C. bought a new stake in American Tower during the fourth quarter valued at $1,102,000. Brookstone Capital Management raised its holdings in shares of American Tower by 29.0% during the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock worth $1,629,000 after purchasing an additional 1,995 shares during the period. Finally, CCLA Investment Management lifted its position in shares of American Tower by 5.5% in the 4th quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust’s stock worth $79,344,000 after buying an additional 22,523 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMT has been the topic of several research reports. Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Scotiabank reduced their price objective on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday, January 23rd. The Goldman Sachs Group dropped their target price on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Finally, Citigroup boosted their price target on shares of American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a report on Monday, March 10th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, American Tower has an average rating of “Buy” and a consensus price target of $232.07.

American Tower Price Performance

NYSE AMT opened at $219.44 on Wednesday. The firm has a market capitalization of $102.58 billion, a PE ratio of 92.59, a P/E/G ratio of 1.29 and a beta of 0.85. 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 Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The company’s 50 day simple moving average is $200.03 and its 200 day simple moving average is $204.07.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the previous year, the business earned $2.29 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, equities research analysts forecast that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be paid a $1.70 dividend. The ex-dividend date is Friday, April 11th. This represents a $6.80 annualized dividend and a dividend yield of 3.10%. This is a boost from American Tower’s previous quarterly dividend of $1.62. American Tower’s payout ratio is currently 141.37%.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

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.