30,320 Shares in American Tower Co. (NYSE:AMT) Purchased by Dupont Capital Management Corp

Dupont Capital Management Corp purchased a new position in shares of American Tower Co. (NYSE:AMTFree Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 30,320 shares of the real estate investment trust’s stock, valued at approximately $6,545,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Pinnacle Holdings LLC acquired a new stake in shares of American Tower in the first quarter valued at approximately $29,000. Eagle Bay Advisors LLC purchased a new position in shares of American Tower in the 2nd quarter valued at $30,000. VitalStone Financial LLC purchased a new stake in American Tower during the 1st quarter worth $38,000. Thompson Investment Management Inc. purchased a new stake in American Tower during the 4th quarter worth $29,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in American Tower during the 3rd quarter worth $27,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the sale, the chief financial officer now directly owns 62,969 shares in the company, valued at $12,953,352.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the transaction, the chief financial officer now owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction of $962,584.84. Following the completion of the transaction, the director now directly owns 18,545 shares in the company, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Barclays upped their target price on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. BMO Capital Markets decreased their target price on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. HSBC started coverage on shares of American Tower in a report on Thursday, December 14th. They issued a “buy” rating and a $245.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their price objective on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $215.90.

Read Our Latest Stock Analysis on AMT

American Tower Price Performance

AMT opened at $192.18 on Wednesday. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $219.10. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. The firm has a market capitalization of $89.62 billion, a P/E ratio of 60.43, a PEG ratio of 1.34 and a beta of 0.67. The stock has a fifty day moving average of $195.73 and a 200-day moving average of $192.53.

American Tower (NYSE:AMTGet Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.34 earnings per share. Equities analysts forecast that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $6.48 annualized dividend and a dividend yield of 3.37%. American Tower’s payout ratio is 213.84%.

About American Tower

(Free Report)

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.

See Also

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

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