Commons Capital LLC Buys 235 Shares of American Tower Co. (NYSE:AMT)

Commons Capital LLC increased its holdings in American Tower Co. (NYSE:AMT) by 4.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,349 shares of the real estate investment trust’s stock after acquiring an additional 235 shares during the period. American Tower comprises approximately 0.9% of Commons Capital LLC’s portfolio, making the stock its 23rd biggest holding. Commons Capital LLC’s holdings in American Tower were worth $981,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Fortitude Family Office LLC lifted its stake in American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 78 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in shares of American Tower during the 3rd quarter valued at $30,000. Hara Capital LLC purchased a new position in American Tower in the 3rd quarter worth approximately $31,000. Legacy Investment Solutions LLC bought a new position in shares of American Tower in the third quarter worth approximately $34,000. Finally, Activest Wealth Management raised its stake in shares of American Tower by 431.0% during the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 125 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AMT. The Goldman Sachs Group dropped their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Scotiabank decreased their target price on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 30th. Mizuho dropped their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets cut their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and an average target price of $230.67.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. The trade was 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 insiders.

American Tower Price Performance

AMT opened at $189.94 on Wednesday. The company’s 50-day simple moving average is $192.75 and its two-hundred day simple moving average is $211.51. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The stock has a market capitalization of $88.76 billion, a P/E ratio of 80.14, a P/E/G ratio of 1.28 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period last year, the firm posted $2.58 EPS. As a group, analysts predict that American Tower Co. will post 10.15 EPS for the current year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is Friday, December 27th. American Tower’s payout ratio is currently 273.42%.

About American Tower

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.