Bryn Mawr Capital Management LLC Makes New $311,000 Investment in American Tower Co. (NYSE:AMT)

Bryn Mawr Capital Management LLC bought a new position in American Tower Co. (NYSE:AMT) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 1,443 shares of the real estate investment trust’s stock, valued at approximately $311,000.

Other large investors have also bought and sold shares of the company. Cross Staff Investments Inc raised its holdings in American Tower by 5.1% in the fourth quarter. Cross Staff Investments Inc now owns 5,027 shares of the real estate investment trust’s stock worth $1,085,000 after buying an additional 244 shares during the last quarter. Gateway Investment Advisers LLC raised its holdings in American Tower by 57.7% in the fourth 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 last quarter. Victory Capital Management Inc. raised its holdings in American Tower by 0.5% in the third 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 last quarter. PDS Planning Inc raised its holdings in American Tower by 16.1% in the third 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 last quarter. Finally, FAS Wealth Partners Inc. purchased a new position in shares of American Tower during the fourth quarter valued at approximately $2,001,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 11,510 shares of the company’s 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 sale, 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 through the SEC website. In other 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 value of $2,367,722.10. Following the sale, the chief financial officer now owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 completion of the sale, 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. 0.24% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AMT. 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. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Barclays boosted their target price on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. BMO Capital Markets cut 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. Finally, Mizuho started coverage on shares of American Tower in a research report on Monday, April 8th. They set a “neutral” rating and a $205.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $217.36.

American Tower Stock Performance

AMT opened at $171.69 on Friday. The firm has a market cap of $80.07 billion, a P/E ratio of 53.99, a PEG ratio of 1.36 and a beta of 0.67. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10. The company has a 50 day simple moving average of $190.29 and a two-hundred day simple moving average of $194.22. 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 (NYSE:AMT) last issued its 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). American Tower had a return on equity of 12.80% and a net margin of 13.31%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the prior year, the company posted $2.34 EPS. American Tower’s revenue was up 3.0% compared to the same quarter last year. Equities analysts forecast that American Tower Co. will post 9.94 earnings per share for the current fiscal year.

American Tower Cuts Dividend

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

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.