Riverpark Capital Management LLC lessened its stake in American Tower Corp (NYSE:AMT) by 14.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 161,099 shares of the real estate investment trust’s stock after selling 28,212 shares during the period. American Tower comprises 3.3% of Riverpark Capital Management LLC’s portfolio, making the stock its 9th biggest holding. Riverpark Capital Management LLC’s holdings in American Tower were worth $22,984,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vident Investment Advisory LLC raised its position in American Tower by 166.9% in the third quarter. Vident Investment Advisory LLC now owns 4,019 shares of the real estate investment trust’s stock worth $550,000 after purchasing an additional 2,513 shares in the last quarter. LVM Capital Management Ltd. MI raised its position in American Tower by 11.6% in the fourth quarter. LVM Capital Management Ltd. MI now owns 57,741 shares of the real estate investment trust’s stock worth $8,238,000 after purchasing an additional 5,986 shares in the last quarter. TRUE Private Wealth Advisors raised its position in American Tower by 148.0% in the fourth quarter. TRUE Private Wealth Advisors now owns 5,257 shares of the real estate investment trust’s stock worth $753,000 after purchasing an additional 3,137 shares in the last quarter. Zions Bancorporation raised its position in American Tower by 4,708.4% in the third quarter. Zions Bancorporation now owns 3,991 shares of the real estate investment trust’s stock worth $546,000 after purchasing an additional 3,908 shares in the last quarter. Finally, Westpac Banking Corp raised its position in American Tower by 5.7% in the fourth quarter. Westpac Banking Corp now owns 124,810 shares of the real estate investment trust’s stock worth $17,807,000 after purchasing an additional 6,682 shares in the last quarter. Institutional investors and hedge funds own 92.52% of the company’s stock.
In other news, Director David E. Sharbutt sold 1,584 shares of the stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $144.44, for a total transaction of $228,792.96. Following the sale, the director now directly owns 4,861 shares of the company’s stock, valued at $702,122.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Samme L. Thompson sold 5,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $143.16, for a total transaction of $715,800.00. The disclosure for this sale can be found here. 0.86% of the stock is owned by corporate insiders.
Shares of American Tower Corp (NYSE:AMT) opened at $143.58 on Monday. American Tower Corp has a 52 week low of $113.11 and a 52 week high of $155.28. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market cap of $63,297.39, a P/E ratio of 21.82, a PEG ratio of 1.61 and a beta of 0.80.
American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $1.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.63 by ($0.04). American Tower had a net margin of 18.31% and a return on equity of 17.20%. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same period last year, the company earned $1.52 earnings per share. American Tower’s revenue for the quarter was up 10.7% compared to the same quarter last year. analysts anticipate that American Tower Corp will post 7.09 EPS for the current fiscal year.
American Tower announced that its board has approved a stock buyback plan on Thursday, December 7th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Wednesday, April 11th will be paid a dividend of $0.75 per share. This is a boost from American Tower’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Tuesday, April 10th. American Tower’s dividend payout ratio is 104.87%.
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About American Tower
American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.
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