Midwest Professional Planners LTD. raised its position in American Tower Co. (NYSE:AMT – Get Rating) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,749 shares of the real estate investment trust’s stock after purchasing an additional 123 shares during the quarter. Midwest Professional Planners LTD.’s holdings in American Tower were worth $1,097,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Rational Advisors LLC boosted its stake in shares of American Tower by 140.0% during the 4th quarter. Rational Advisors LLC now owns 84 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 49 shares in the last quarter. Cassady Schiller Wealth Management LLC bought a new stake in shares of American Tower during the 4th quarter worth about $25,000. Sandy Cove Advisors LLC bought a new stake in shares of American Tower during the 4th quarter worth about $27,000. Crewe Advisors LLC bought a new stake in shares of American Tower during the 4th quarter worth about $28,000. Finally, Bell Investment Advisors Inc acquired a new position in shares of American Tower during the 3rd quarter worth about $27,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.
In other American Tower news, CFO Rodney M. Smith sold 25,389 shares of the business’s stock in a transaction that occurred on Thursday, April 21st. The stock was sold at an average price of $270.00, for a total transaction of $6,855,030.00. Following the transaction, the chief financial officer now owns 52,398 shares of the company’s stock, valued at $14,147,460. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.24% of the stock is owned by insiders.
American Tower (NYSE:AMT – Get Rating) last released its earnings results on Wednesday, April 27th. The real estate investment trust reported $1.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.41 by ($0.85). American Tower had a return on equity of 30.44% and a net margin of 26.72%. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the previous year, the company posted $2.46 EPS. The business’s revenue was up 23.2% on a year-over-year basis. As a group, equities research analysts expect that American Tower Co. will post 9.68 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 29th. Shareholders of record on Wednesday, April 13th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Tuesday, April 12th. This is an increase from American Tower’s previous quarterly dividend of $1.39. American Tower’s payout ratio is 96.89%.
AMT has been the subject of several research analyst reports. Cowen cut their price objective on American Tower from $350.00 to $325.00 in a research report on Friday, February 25th. Morgan Stanley boosted their price objective on American Tower from $274.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 7th. Wells Fargo & Company boosted their price objective on American Tower from $250.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, March 11th. Deutsche Bank Aktiengesellschaft cut their price target on American Tower from $288.00 to $260.00 and set a “hold” rating for the company in a report on Monday, February 28th. Finally, KeyCorp cut their target price on American Tower from $311.00 to $286.00 and set an “overweight” rating for the company in a research report on Friday, February 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $288.92.
American Tower Profile (Get Rating)
American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.
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