American Tower Co. (NYSE:AMT) Shares Acquired by Arbor Capital Management Inc. ADV

Arbor Capital Management Inc. ADV lifted its position in shares of American Tower Co. (NYSE:AMT) by 7.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,587 shares of the real estate investment trust’s stock after purchasing an additional 462 shares during the period. Arbor Capital Management Inc. ADV’s holdings in American Tower were worth $1,221,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. FMR LLC raised its holdings in American Tower by 25.4% in the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock valued at $2,474,934,000 after acquiring an additional 2,152,646 shares in the last quarter. Adelante Capital Management LLC boosted its stake in American Tower by 2,723.4% during the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock valued at $279,890,000 after acquiring an additional 1,160,890 shares during the last quarter. Raymond James Financial Inc. bought a new position in American Tower during the 4th quarter valued at $193,246,000. Daiwa Securities Group Inc. boosted its stake in American Tower by 456.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 1,124,633 shares of the real estate investment trust’s stock valued at $206,269,000 after acquiring an additional 922,701 shares during the last quarter. Finally, State Street Corp boosted its stake in American Tower by 3.1% during the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock valued at $4,924,091,000 after acquiring an additional 635,726 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the transaction, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.18% of the stock is owned by corporate insiders.

American Tower Stock Up 1.6 %

AMT stock opened at $211.02 on Monday. The stock has a market cap of $98.64 billion, a PE ratio of 89.04, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm’s 50-day simple moving average is $192.33 and its 200 day simple moving average is $205.68. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56.

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

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be paid a dividend of $1.70 per share. This is a boost from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. This represents a $6.80 annualized dividend and a yield of 3.22%. American Tower’s dividend payout ratio (DPR) is presently 141.37%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. JMP Securities assumed coverage on shares of American Tower in a research note on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective on the stock. BMO Capital Markets increased their price objective on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Scotiabank dropped their target price 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. Finally, The Goldman Sachs Group dropped their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $226.29.

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.