Livingston Group Asset Management CO operating as Southport Capital Management Raises Holdings in American Tower Co. (REIT) (NYSE:AMT)


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Livingston Group Asset Management CO operating as Southport Capital Management lifted its holdings in shares of American Tower Co. (REIT) (NYSE:AMT) by 5.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,809 shares of the real estate investment trust’s stock after acquiring an additional 143 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in American Tower were worth $631,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AMT. BlackRock Inc. boosted its position in American Tower by 2.1% in the third quarter. BlackRock Inc. now owns 33,571,973 shares of the real estate investment trust’s stock valued at $8,115,354,000 after buying an additional 696,521 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in American Tower by 103.7% in the third quarter. CIBC Private Wealth Group LLC now owns 1,366,056 shares of the real estate investment trust’s stock valued at $330,257,000 after acquiring an additional 695,284 shares during the period. Magellan Asset Management Ltd lifted its holdings in American Tower by 574.9% in the third quarter. Magellan Asset Management Ltd now owns 697,497 shares of the real estate investment trust’s stock valued at $168,606,000 after acquiring an additional 594,149 shares during the period. Wells Fargo & Company MN lifted its holdings in American Tower by 10.8% in the third quarter. Wells Fargo & Company MN now owns 4,879,716 shares of the real estate investment trust’s stock valued at $1,179,573,000 after acquiring an additional 476,541 shares during the period. Finally, Great West Life Assurance Co. Can lifted its holdings in American Tower by 73.6% in the third quarter. Great West Life Assurance Co. Can now owns 1,102,947 shares of the real estate investment trust’s stock valued at $160,645,000 after acquiring an additional 467,677 shares during the period. Institutional investors and hedge funds own 89.97% of the company’s stock.

In other news, EVP Olivier Puech sold 320 shares of the company’s stock in a transaction dated Friday, January 8th. The stock was sold at an average price of $220.00, for a total value of $70,400.00. Following the completion of the sale, the executive vice president now owns 17,146 shares of the company’s stock, valued at $3,772,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Steven O. Vondran sold 1,500 shares of the company’s stock in a transaction dated Tuesday, December 1st. The stock was sold at an average price of $232.00, for a total value of $348,000.00. Following the completion of the sale, the executive vice president now directly owns 23,526 shares of the company’s stock, valued at approximately $5,458,032. The disclosure for this sale can be found here. Insiders sold 4,948 shares of company stock valued at $1,119,029 over the last quarter. Insiders own 0.65% of the company’s stock.

AMT has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft downgraded American Tower from a “buy” rating to a “hold” rating and decreased their price target for the company from $295.00 to $245.00 in a report on Friday, December 11th. Zacks Investment Research raised American Tower from a “hold” rating to a “buy” rating and set a $258.00 target price for the company in a research note on Monday, October 19th. Morgan Stanley reduced their target price on American Tower from $250.00 to $244.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 20th. Wells Fargo & Company reduced their target price on American Tower from $290.00 to $285.00 and set an “overweight” rating for the company in a research note on Wednesday, September 16th. Finally, Raymond James reduced their target price on American Tower from $276.00 to $258.00 and set an “outperform” rating for the company in a research note on Tuesday, November 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. American Tower currently has an average rating of “Buy” and a consensus target price of $272.73.

Shares of AMT stock opened at $216.46 on Thursday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 5.73. American Tower Co. has a twelve month low of $174.32 and a twelve month high of $272.20. The company has a market capitalization of $96.15 billion, a P/E ratio of 51.17, a price-to-earnings-growth ratio of 1.55 and a beta of 0.25. The business’s 50 day moving average is $222.79 and its two-hundred day moving average is $241.75.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, November 3rd. The real estate investment trust reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.06). The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.97 billion. American Tower had a return on equity of 42.42% and a net margin of 24.08%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.93 earnings per share. As a group, equities analysts predict that American Tower Co. will post 8.16 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 2nd. Investors of record on Monday, December 28th will be paid a $1.21 dividend. This is a positive change from American Tower’s previous quarterly dividend of $1.14. This represents a $4.84 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, December 24th. American Tower’s dividend payout ratio is presently 62.61%.

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 approximately 181,000 communications sites.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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