Syon Capital LLC Has $446,000 Stock Position in American Tower Co. (NYSE:AMT)

Syon Capital LLC increased its stake in shares of American Tower Co. (NYSE:AMT) by 20.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,065 shares of the real estate investment trust’s stock after purchasing an additional 345 shares during the period. Syon Capital LLC’s holdings in American Tower were worth $446,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of American Tower by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 60,930,583 shares of the real estate investment trust’s stock valued at $10,020,034,000 after acquiring an additional 196,942 shares during the last quarter. Wellington Management Group LLP increased its stake in American Tower by 5.6% in the third quarter. Wellington Management Group LLP now owns 12,984,052 shares of the real estate investment trust’s stock valued at $2,135,227,000 after purchasing an additional 691,934 shares in the last quarter. Morgan Stanley raised its holdings in American Tower by 3.7% in the third quarter. Morgan Stanley now owns 7,269,957 shares of the real estate investment trust’s stock worth $1,195,545,000 after purchasing an additional 258,030 shares during the period. FMR LLC raised its holdings in American Tower by 2.1% in the third quarter. FMR LLC now owns 6,628,436 shares of the real estate investment trust’s stock worth $1,090,046,000 after purchasing an additional 138,303 shares during the period. Finally, Invesco Ltd. boosted its position in shares of American Tower by 1.0% during the third quarter. Invesco Ltd. now owns 5,711,667 shares of the real estate investment trust’s stock worth $939,284,000 after purchasing an additional 56,598 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

NYSE AMT opened at $171.63 on Friday. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $219.10. The firm’s 50 day moving average is $190.29 and its 200-day moving average is $193.97. The company has a market capitalization of $80.04 billion, a PE ratio of 53.97, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29.

American Tower (NYSE:AMT) last issued its quarterly earnings results 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). The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.34 earnings per share. Equities research 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 was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were paid a $1.62 dividend. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a yield of 3.78%. American Tower’s dividend payout ratio is 203.77%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Mizuho started coverage on American Tower in a research note on Monday, April 8th. They set a “neutral” rating and a $205.00 price objective on the stock. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Barclays increased 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. Morgan Stanley raised their target price on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Finally, BMO Capital Markets reduced their price target on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $217.36.

Insiders Place Their Bets

In related news, CFO Rodney M. Smith sold 11,510 shares of the firm’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 directly owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Pamela D. A. Reeve sold 5,054 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the sale, the director now directly owns 18,545 shares of the company’s stock, valued at approximately $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 firm’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 completion of the sale, the chief financial officer now owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

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.