Plato Investment Management Ltd Has $2.30 Million Stock Position in American Tower Co. (NYSE:AMT)

Plato Investment Management Ltd grew its position in American Tower Co. (NYSE:AMT) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,480 shares of the real estate investment trust’s stock after buying an additional 255 shares during the quarter. Plato Investment Management Ltd’s holdings in American Tower were worth $2,297,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMT. Hara Capital LLC acquired a new position in shares of American Tower in the third quarter worth about $31,000. Roxbury Financial LLC acquired a new position in shares of American Tower in the fourth quarter worth about $32,000. Legacy Investment Solutions LLC acquired a new stake in shares of American Tower during the third quarter worth approximately $34,000. Activest Wealth Management boosted its holdings 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 worth $36,000 after purchasing an additional 125 shares during the period. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of American Tower during the fourth quarter worth approximately $46,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm’s 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

American Tower Trading Up 0.8 %

Shares of American Tower stock opened at $205.61 on Monday. The company’s fifty day simple moving average is $187.09 and its 200-day simple moving average is $206.58. The company has a market cap of $96.08 billion, a price-to-earnings ratio of 86.76, a PEG ratio of 1.29 and a beta of 0.84. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56.

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 (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.83. The business had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company posted $2.29 earnings per share. As a group, sell-side analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Mizuho decreased their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a report on Thursday. BMO Capital Markets raised their price target on shares of American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Wells Fargo & Company decreased their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Finally, Barclays decreased their price target on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and a consensus target price of $225.21.

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.