Reaves W H & Co. Inc. Has $35.46 Million Stock Position in American Tower Co. (NYSE:AMT)

Reaves W H & Co. Inc. reduced its holdings in shares of American Tower Co. (NYSE:AMT) by 18.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 193,337 shares of the real estate investment trust’s stock after selling 45,175 shares during the quarter. Reaves W H & Co. Inc.’s holdings in American Tower were worth $35,460,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Balentine LLC acquired a new position in shares of American Tower during the third quarter valued at about $586,000. Nordea Investment Management AB grew its holdings in shares of American Tower by 28.5% during the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock valued at $260,743,000 after buying an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of American Tower during the third quarter valued at about $1,156,000. TigerOak Management L.L.C. acquired a new position in shares of American Tower during the fourth quarter valued at about $1,102,000. Finally, Brookstone Capital Management grew its holdings in shares of American Tower by 29.0% during the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock valued at $1,629,000 after buying an additional 1,995 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.18% of the company’s stock.

American Tower Stock Performance

Shares of AMT stock opened at $209.63 on Tuesday. The firm has a market cap of $97.96 billion, a price-to-earnings ratio of 88.45, a P/E/G ratio of 1.29 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The firm’s 50-day simple moving average is $187.60 and its two-hundred day simple moving average is $206.52.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the previous year, the firm posted $2.29 earnings per share. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, equities analysts forecast that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio (DPR) is currently 134.72%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AMT. Wells Fargo & Company cut their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Citigroup cut their price target on shares of American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Scotiabank cut their price target on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a report on Thursday, January 23rd. Mizuho cut their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, Barclays cut their price target on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $225.21.

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.