Telemus Capital LLC Raises Position in American Tower Co. (NYSE:AMT)

Telemus Capital LLC lifted its stake in American Tower Co. (NYSE:AMT) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,325 shares of the real estate investment trust’s stock after buying an additional 1,253 shares during the period. Telemus Capital LLC’s holdings in American Tower were worth $8,705,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Thompson Investment Management Inc. purchased a new stake in shares of American Tower in the fourth quarter worth about $29,000. McClarren Financial Advisors Inc. purchased a new stake in shares of American Tower in the third quarter worth about $27,000. Emerald Advisers LLC purchased a new stake in shares of American Tower in the third quarter worth about $29,000. Valley National Advisers Inc. boosted its position in shares of American Tower by 200.0% in the fourth quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 118 shares during the period. Finally, Oakworth Capital Inc. boosted its position in shares of American Tower by 157.9% in the fourth quarter. Oakworth Capital Inc. now owns 196 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 120 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Transactions at American Tower

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

American Tower Trading Up 0.6 %

Shares of NYSE AMT opened at $172.31 on Tuesday. 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 stock’s 50 day moving average price is $191.52 and its two-hundred day moving average price is $194.09. The stock has a market capitalization of $80.36 billion, a P/E ratio of 54.19, a PEG ratio of 1.35 and a beta of 0.67. American Tower Co. has a 52-week low of $154.58 and a 52-week high of $219.10.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.74 billion. American Tower had a return on equity of 12.80% and a net margin of 13.31%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.34 earnings per share. On average, analysts anticipate that American Tower Co. will post 9.94 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date is Thursday, April 11th. American Tower’s payout ratio is 203.77%.

Analysts Set New Price Targets

AMT has been the subject of a number of analyst reports. Barclays increased their price target on American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. JPMorgan Chase & Co. reduced their price target on American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. BMO Capital Markets reduced their price target 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 initiated coverage on American Tower in a report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price target for the company. Finally, Morgan Stanley increased their price target on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $217.36.

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.