Livingston Group Asset Management CO operating as Southport Capital Management reduced its position in shares of American Tower Corp (NYSE:AMT) by 11.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,672 shares of the real estate investment trust’s stock after selling 360 shares during the quarter. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in American Tower were worth $614,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of AMT. Cottage Street Advisors LLC purchased a new position in shares of American Tower in the third quarter valued at approximately $754,000. HM Payson & Co. acquired a new position in American Tower in the 2nd quarter valued at $634,000. BlackRock Inc. raised its stake in American Tower by 4.0% in the 2nd quarter. BlackRock Inc. now owns 31,549,686 shares of the real estate investment trust’s stock valued at $6,450,332,000 after purchasing an additional 1,213,664 shares during the last quarter. Pictet Asset Management Ltd. lifted its holdings in American Tower by 3.1% in the 3rd quarter. Pictet Asset Management Ltd. now owns 222,581 shares of the real estate investment trust’s stock valued at $49,219,000 after purchasing an additional 6,700 shares in the last quarter. Finally, Evoke Wealth LLC purchased a new position in American Tower in the 3rd quarter valued at $198,000. 91.63% of the stock is currently owned by institutional investors and hedge funds.
AMT has been the topic of several recent research reports. ValuEngine cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Cowen lifted their target price on shares of American Tower from $238.00 to $260.00 and gave the stock an “in-line” rating in a research note on Friday, November 1st. Goldman Sachs Group raised shares of American Tower from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $204.00 to $270.00 in a research note on Monday. Morgan Stanley reaffirmed a “hold” rating and set a $218.00 target price (up previously from $216.00) on shares of American Tower in a research note on Friday, November 22nd. Finally, KeyCorp lifted their target price on shares of American Tower from $242.00 to $254.00 and gave the stock an “overweight” rating in a research note on Friday, January 10th. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. American Tower currently has an average rating of “Hold” and an average price target of $224.36.
AMT traded down $2.40 on Thursday, hitting $232.98. The company had a trading volume of 683,225 shares, compared to its average volume of 1,386,537. The firm has a market cap of $103.63 billion, a P/E ratio of 29.16, a PEG ratio of 1.51 and a beta of 0.41. American Tower Corp has a 1 year low of $162.83 and a 1 year high of $242.00. The company’s fifty day moving average price is $221.85 and its 200 day moving average price is $218.83. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 4.40.
American Tower (NYSE:AMT) last issued its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.17. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.88 billion. American Tower had a net margin of 20.58% and a return on equity of 27.12%. American Tower’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.85 EPS. On average, analysts predict that American Tower Corp will post 7.64 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Friday, December 27th were issued a $1.01 dividend. This is a positive change from American Tower’s previous quarterly dividend of $0.95. This represents a $4.04 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Thursday, December 26th. American Tower’s payout ratio is 50.56%.
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 approximately 171,000 communications sites.
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