Alta Capital Management LLC Buys 1,220 Shares of American Tower Co. (NYSE:AMT)

Alta Capital Management LLC lifted its stake in shares of American Tower Co. (NYSE:AMT) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,438 shares of the real estate investment trust’s stock after acquiring an additional 1,220 shares during the quarter. Alta Capital Management LLC’s holdings in American Tower were worth $3,749,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Hara Capital LLC bought a new stake in shares of American Tower during the 3rd quarter worth about $31,000. Legacy Investment Solutions LLC bought a new stake in American Tower during the 3rd quarter valued at approximately $34,000. Activest Wealth Management boosted its stake in American Tower by 431.0% during the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 125 shares during the period. Roxbury Financial LLC bought a new stake in American Tower during the 4th quarter valued at approximately $32,000. Finally, Hobbs Group Advisors LLC boosted its stake in American Tower by 51.0% during the 3rd quarter. Hobbs Group Advisors LLC now owns 222 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 75 shares during the period. Institutional investors own 92.69% of the company’s stock.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the sale, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AMT. JMP Securities began coverage on American Tower in a research note on Monday, January 27th. They set an “outperform” rating and a $225.00 target price for the company. Mizuho decreased their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Barclays decreased their target price on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. BMO Capital Markets increased their target price on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Finally, Citigroup decreased their target price on American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $225.21.

American Tower Trading Up 2.0 %

Shares of AMT opened at $209.63 on Tuesday. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a 50 day simple moving average of $187.60 and a 200-day simple moving average of $206.52. The stock has a market cap of $97.96 billion, a PE ratio of 88.45, a PEG ratio of 1.29 and a beta of 0.84.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same period in the prior year, the firm posted $2.29 EPS. American Tower’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, sell-side analysts predict that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were issued a dividend of $1.62 per share. The ex-dividend date was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.09%. American Tower’s dividend payout ratio is 134.72%.

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.