LVZ Inc. Grows Holdings in American Tower Co. (NYSE:AMT)

LVZ Inc. grew its stake in American Tower Co. (NYSE:AMTFree Report) by 9.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,931 shares of the real estate investment trust’s stock after acquiring an additional 166 shares during the period. LVZ Inc.’s holdings in American Tower were worth $417,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in AMT. Cohen & Steers Inc. increased its stake in American Tower by 44.2% during the 2nd quarter. Cohen & Steers Inc. now owns 9,842,980 shares of the real estate investment trust’s stock worth $1,908,844,000 after buying an additional 3,016,160 shares during the period. Gateway Investment Advisers LLC increased its stake in American Tower by 57.7% during the 4th quarter. Gateway Investment Advisers LLC now owns 35,751 shares of the real estate investment trust’s stock worth $7,718,000 after buying an additional 13,074 shares during the period. Victory Capital Management Inc. increased its stake in American Tower by 0.5% during the 3rd quarter. Victory Capital Management Inc. now owns 177,288 shares of the real estate investment trust’s stock worth $29,155,000 after buying an additional 806 shares during the period. PDS Planning Inc increased its stake in American Tower by 16.1% during the 3rd quarter. PDS Planning Inc now owns 1,821 shares of the real estate investment trust’s stock worth $299,000 after buying an additional 253 shares during the period. Finally, Cyndeo Wealth Partners LLC increased its stake in American Tower by 3.8% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 9,908 shares of the real estate investment trust’s stock worth $1,629,000 after buying an additional 365 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the company’s stock in a transaction 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 owns 18,545 shares in the company, valued at approximately $3,532,080.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 62,969 shares in the company, valued at approximately $12,953,352.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction dated 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 owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. BMO Capital Markets cut their target price on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. HSBC assumed coverage on shares of American Tower in a report on Thursday, December 14th. They set a “buy” rating and a $245.00 price target for the company. JPMorgan Chase & Co. lowered their price target 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. Barclays boosted their price target on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Finally, StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and an average target price of $215.90.

Get Our Latest Analysis on AMT

American Tower Stock Down 0.7 %

Shares of American Tower stock traded down $1.27 during trading hours on Wednesday, hitting $190.91. The company had a trading volume of 540,386 shares, compared to its average volume of 2,305,843. The company has a market cap of $89.03 billion, a P/E ratio of 60.43, a price-to-earnings-growth ratio of 1.34 and a beta of 0.67. The company’s 50-day moving average is $195.53 and its two-hundred day moving average is $192.61. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $219.10.

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

American Tower Cuts Dividend

The firm 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 dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date is Thursday, April 11th. American Tower’s dividend payout ratio is currently 213.84%.

American Tower Company Profile

(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.

Featured Articles

Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Co. (NYSE:AMTFree Report).

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

Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.