Harvest Fund Management Co. Ltd Buys Shares of 1,176 American Tower Co. (NYSE:AMT)

Harvest Fund Management Co. Ltd purchased a new position in shares of American Tower Co. (NYSE:AMT) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 1,176 shares of the real estate investment trust’s stock, valued at approximately $254,000.

Several other institutional investors have also made changes to their positions in AMT. Schnieders Capital Management LLC raised its position in American Tower by 111.8% during the fourth quarter. Schnieders Capital Management LLC now owns 4,736 shares of the real estate investment trust’s stock valued at $1,022,000 after acquiring an additional 2,500 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of American Tower during the 4th quarter valued at $686,000. Parkside Financial Bank & Trust boosted its holdings in American Tower by 57.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,102 shares of the real estate investment trust’s stock worth $454,000 after purchasing an additional 770 shares in the last quarter. RWA Wealth Partners LLC acquired a new position in American Tower during the fourth quarter worth $730,000. Finally, Stock Yards Bank & Trust Co. raised its holdings in American Tower by 2.3% during the fourth quarter. Stock Yards Bank & Trust Co. now owns 126,762 shares of the real estate investment trust’s stock valued at $27,365,000 after buying an additional 2,805 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Trading Down 0.8 %

Shares of AMT opened at $172.00 on Thursday. The stock has a 50 day simple moving average of $190.93 and a 200-day simple moving average of $194.05. The stock has a market cap of $80.21 billion, a PE ratio of 54.51, a PEG ratio of 1.38 and a beta of 0.67. 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 Co. has a 1 year low of $154.58 and a 1 year high of $219.10.

American Tower (NYSE:AMT) last announced its earnings results 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 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%. American Tower’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.34 earnings per share. On average, sell-side analysts predict that American Tower Co. will post 9.94 EPS for the current fiscal year.

American Tower Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $6.48 annualized dividend and a dividend yield of 3.77%. American Tower’s dividend payout ratio (DPR) is currently 203.77%.

Analyst Ratings Changes

A number of research analysts have recently commented on AMT shares. JPMorgan Chase & Co. lowered their price objective on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Mizuho initiated coverage on shares of American Tower in a research report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price target on the stock. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Morgan Stanley raised their target price on shares of American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Finally, Barclays boosted their target price on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $217.36.

Insider Transactions at American Tower

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

American Tower Company 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.