London & Capital Asset Management Ltd Increases Holdings in American Tower Co. (NYSE:AMT)

London & Capital Asset Management Ltd grew its holdings in American Tower Co. (NYSE:AMT) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,542 shares of the real estate investment trust’s stock after acquiring an additional 1,199 shares during the period. London & Capital Asset Management Ltd’s holdings in American Tower were worth $13,286,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Pinnacle Holdings LLC purchased a new stake in shares of American Tower in the first quarter worth about $29,000. Eagle Bay Advisors LLC bought a new position in shares of American Tower during the second quarter valued at approximately $30,000. VitalStone Financial LLC bought a new position in American Tower in the first quarter worth approximately $38,000. Thompson Investment Management Inc. purchased a new stake in American Tower during the fourth quarter worth $29,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in American Tower during the third quarter worth $27,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMT has been the subject of several analyst reports. BMO Capital Markets decreased their price objective on American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Mizuho assumed coverage on American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price for the company. Barclays raised their target price on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, JPMorgan Chase & Co. cut their price target 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. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $214.91.

American Tower Price Performance

Shares of NYSE:AMT traded down $2.10 during trading on Monday, reaching $177.10. 506,640 shares of the company’s stock traded hands, compared to its average volume of 2,368,896. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $219.10. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. The firm has a market cap of $82.59 billion, a PE ratio of 56.35, a P/E/G ratio of 1.24 and a beta of 0.67. The company has a 50-day simple moving average of $193.88 and a 200-day simple moving average of $193.57.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($1.16). American Tower had a return on equity of 12.80% and a net margin of 13.31%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.74 billion. During the same quarter in the previous year, the firm posted $2.34 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, analysts predict that American Tower Co. will post 10.05 earnings per share for the current year.

American Tower Cuts Dividend

The firm also recently announced 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. This represents a $6.48 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend is Thursday, April 11th. American Tower’s dividend payout ratio (DPR) is 203.77%.

Insiders Place Their Bets

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

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.