Postrock Partners LLC Makes New $1.13 Million Investment in American Tower Co. (NYSE:AMT)

Postrock Partners LLC bought a new stake in shares of American Tower Co. (NYSE:AMT) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,138 shares of the real estate investment trust’s stock, valued at approximately $1,126,000.

Several other hedge funds also recently made changes to their positions in AMT. Roxbury Financial LLC acquired a new stake in shares of American Tower during the fourth quarter worth approximately $32,000. Legacy Investment Solutions LLC acquired a new stake in shares of American Tower in the third quarter worth $34,000. Activest Wealth Management increased its stake in shares of American Tower by 431.0% in 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. Bank of Jackson Hole Trust acquired a new position in shares of American Tower during the fourth quarter worth approximately $46,000. Finally, Versant Capital Management Inc increased its holdings in shares of American Tower by 113.9% during the 4th quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 139 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Up 0.3 %

Shares of NYSE AMT opened at $207.29 on Friday. The business has a 50-day simple moving average of $191.76 and a two-hundred day simple moving average of $206.06. The company has a market cap of $96.90 billion, a P/E ratio of 87.46, a P/E/G ratio of 1.29 and a beta of 0.85. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last announced its earnings results 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. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same period in the previous year, the business earned $2.29 earnings per share. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. Research analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be issued a dividend of $1.70 per share. This is an increase from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.28%. American Tower’s dividend payout ratio is 141.37%.

Analysts Set New Price Targets

Several research firms have recently weighed in on AMT. Wells Fargo & Company lowered their target price on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Citigroup raised their price target on American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a report on Monday. Hsbc Global Res raised American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Morgan Stanley decreased their price objective on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Finally, Barclays dropped their price target on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $226.29.

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 value of $3,000,283.70. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is owned by insiders.

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.