Bokf Na cut its position in American Tower Corp (NYSE:AMT) by 12.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,220 shares of the real estate investment trust’s stock after selling 1,413 shares during the quarter. Bokf Na’s holdings in American Tower were worth $1,617,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Quantamental Technologies LLC bought a new stake in shares of American Tower during the 4th quarter worth about $25,000. Lavaca Capital LLC bought a new stake in shares of American Tower during the 4th quarter worth about $27,000. Acima Private Wealth LLC bought a new stake in shares of American Tower during the 4th quarter worth about $27,000. WESPAC Advisors SoCal LLC bought a new stake in shares of American Tower during the 4th quarter worth about $27,000. Finally, Citizens Financial Group Inc RI raised its holdings in shares of American Tower by 62.0% in the 4th quarter. Citizens Financial Group Inc RI now owns 196 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 94.11% of the company’s stock.
In related news, Director Joann A. Reed sold 1,538 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $175.61, for a total transaction of $270,088.18. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP William H. Hess sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $186.97, for a total transaction of $3,739,400.00. Following the transaction, the executive vice president now directly owns 92,231 shares in the company, valued at $17,244,430.07. The disclosure for this sale can be found here. Over the last three months, insiders sold 88,084 shares of company stock worth $14,996,082. 0.87% of the stock is currently owned by insiders.
A number of analysts recently commented on the stock. Morgan Stanley boosted their target price on shares of American Tower from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Monday, March 11th. Moffett Nathanson downgraded shares of American Tower from a “buy” rating to a “neutral” rating and set a $164.00 target price on the stock. in a report on Monday, December 3rd. Oppenheimer downgraded shares of American Tower from an “outperform” rating to a “market perform” rating in a report on Thursday, February 28th. KeyCorp boosted their target price on shares of American Tower from $180.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, February 28th. They noted that the move was a valuation call. Finally, Edward Jones downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $174.63.
American Tower stock opened at $188.97 on Friday. The company has a market capitalization of $83.36 billion, a PE ratio of 26.27, a PEG ratio of 1.76 and a beta of 0.67. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 3.12. American Tower Corp has a fifty-two week low of $133.53 and a fifty-two week high of $189.00.
American Tower (NYSE:AMT) last released its earnings results on Wednesday, February 27th. The real estate investment trust reported $0.62 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($1.63). The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.03 billion. American Tower had a return on equity of 19.86% and a net margin of 16.62%. The business’s revenue was up 25.0% on a year-over-year basis. During the same period last year, the business earned $0.51 earnings per share. On average, equities research analysts predict that American Tower Corp will post 7.53 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Thursday, April 11th will be given a $0.90 dividend. This is an increase from American Tower’s previous quarterly dividend of $0.84. This represents a $3.60 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Wednesday, April 10th.
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 170,000 communications sites.
Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corp (NYSE:AMT).
Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.