Jacobs & Co. CA Has $3.36 Million Holdings in American Tower Co. (NYSE:AMT)

Jacobs & Co. CA increased its stake in American Tower Co. (NYSE:AMT) by 9.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,551 shares of the real estate investment trust’s stock after buying an additional 1,380 shares during the quarter. Jacobs & Co. CA’s holdings in American Tower were worth $3,357,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in AMT. Pinnacle Holdings LLC acquired a new stake in shares of American Tower during the first quarter worth $29,000. Eagle Bay Advisors LLC acquired a new stake in shares of American Tower during the second quarter worth $30,000. VitalStone Financial LLC acquired a new stake in shares of American Tower during the first quarter worth $38,000. Thompson Investment Management Inc. acquired a new stake in shares of American Tower during the fourth quarter worth $29,000. Finally, McClarren Financial Advisors Inc. acquired a new position in American Tower in the third quarter valued at about $27,000. Institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

AMT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Barclays upped their target price on American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. HSBC began coverage on American Tower in a research note on Thursday, December 14th. They issued a “buy” rating and a $245.00 price target on the stock. Finally, BMO Capital Markets lowered their target price on American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and an average target price of $217.55.

American Tower Trading Up 1.7 %

NYSE AMT opened at $197.40 on Thursday. The firm has a market capitalization of $92.06 billion, a P/E ratio of 62.08, a PEG ratio of 1.34 and a beta of 0.68. The business has a fifty day simple moving average of $196.36 and a 200 day simple moving average of $192.05. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.29.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.34 EPS. On average, analysts predict that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be paid a $1.62 dividend. The ex-dividend date is Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a yield of 3.28%. American Tower’s dividend payout ratio (DPR) is presently 213.84%.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the completion of the transaction, the chief financial officer now owns 62,969 shares in the company, valued at approximately $12,953,352.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the sale, the director now owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 62,969 shares in the company, valued at $12,953,352.99. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

American Tower 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.