Keel Point LLC Increases Stake in American Tower Co. (NYSE:AMT)

Keel Point LLC increased its holdings in American Tower Co. (NYSE:AMT) by 26.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,836 shares of the real estate investment trust’s stock after purchasing an additional 385 shares during the quarter. Keel Point LLC’s holdings in American Tower were worth $396,000 as of its most recent filing with the Securities & Exchange Commission.

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

American Tower Stock Down 3.3 %

NYSE AMT opened at $172.19 on Wednesday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.29. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10. The stock’s 50 day moving average is $193.26 and its 200 day moving average is $193.74. The stock has a market cap of $80.30 billion, a PE ratio of 54.15, a P/E/G ratio of 1.24 and a beta of 0.67.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing the consensus estimate of $2.10 by ($1.16). The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.74 billion. American Tower had a return on equity of 12.80% and a net margin of 13.31%. American Tower’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm posted $2.34 EPS. Research analysts predict that American Tower Co. will post 10.05 EPS for the current fiscal year.

American Tower Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be given a dividend of $1.62 per share. The ex-dividend date is Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.76%. American Tower’s payout ratio is 203.77%.

Wall Street Analyst Weigh In

AMT has been the subject of several research reports. JPMorgan Chase & Co. decreased their price target on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. Barclays boosted their price objective on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Mizuho started coverage on shares of American Tower in a research report on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price for the company. Morgan Stanley boosted their price target on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Three 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 a consensus target price of $217.36.

Insider Transactions at American Tower

In related news, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was 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 of the company’s stock, valued at $3,532,080.70. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction dated Wednesday, March 6th. The stock was 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 $12,953,352.99. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value 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. Insiders own 0.24% of the company’s stock.

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.