Fidelis Capital Partners LLC Has $709,000 Holdings in American Tower Co. (NYSE:AMT)

Fidelis Capital Partners LLC boosted its position in American Tower Co. (NYSE:AMT) by 29.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,285 shares of the real estate investment trust’s stock after buying an additional 757 shares during the period. Fidelis Capital Partners LLC’s holdings in American Tower were worth $709,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of AMT. Moneta Group Investment Advisors LLC increased its position in shares of American Tower by 101,474.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,474,342 shares of the real estate investment trust’s stock worth $2,219,094,000 after acquiring an additional 10,464,030 shares in the last quarter. Norges Bank purchased a new stake in shares of American Tower during the 4th quarter valued at approximately $1,008,567,000. Daiwa Securities Group Inc. lifted its stake in shares of American Tower by 2,329.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 1,329,779 shares of the real estate investment trust’s stock valued at $218,682,000 after buying an additional 1,275,052 shares in the last quarter. Morgan Stanley lifted its stake in shares of American Tower by 15.4% during the 4th quarter. Morgan Stanley now owns 7,231,486 shares of the real estate investment trust’s stock valued at $1,532,063,000 after buying an additional 962,800 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of American Tower by 16,195.9% during the 4th quarter. International Assets Investment Management LLC now owns 849,340 shares of the real estate investment trust’s stock valued at $1,833,560,000 after buying an additional 844,128 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on AMT. JPMorgan Chase & Co. dropped their price target on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Morgan Stanley upped their price target on shares of American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research note on Monday. Barclays increased their target price on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Finally, Mizuho began coverage on shares of American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.36.

American Tower Price Performance

Shares of NYSE:AMT traded up $1.10 during trading on Friday, reaching $172.10. The company had a trading volume of 742,359 shares, compared to its average volume of 2,395,539. The company has a fifty day moving average of $192.37 and a two-hundred day moving average of $193.43. The stock has a market capitalization of $80.26 billion, a P/E ratio of 53.77, a price-to-earnings-growth ratio of 1.36 and a beta of 0.67. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10. 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 (NYSE:AMT) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company earned $2.34 EPS. Equities research analysts forecast that American Tower Co. will post 9.94 earnings per share for the current year.

American Tower Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Thursday, April 11th. American Tower’s payout ratio is 203.77%.

Insider Transactions at American Tower

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

About American Tower

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.