Smartleaf Asset Management LLC Raises Holdings in American Tower Co. (NYSE:AMT)

Smartleaf Asset Management LLC lifted its holdings in shares of American Tower Co. (NYSE:AMT) by 7.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,880 shares of the real estate investment trust’s stock after buying an additional 324 shares during the period. Smartleaf Asset Management LLC’s holdings in American Tower were worth $888,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of AMT. FMR LLC grew its holdings in shares of American Tower by 25.4% in the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after acquiring an additional 2,152,646 shares during the period. Adelante Capital Management LLC grew its holdings in shares of American Tower by 2,723.4% in the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock worth $279,890,000 after acquiring an additional 1,160,890 shares during the period. State Street Corp grew its holdings in American Tower by 3.1% during the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock valued at $4,924,091,000 after buying an additional 635,726 shares during the last quarter. KBC Group NV grew its holdings in American Tower by 270.4% during the 3rd quarter. KBC Group NV now owns 466,772 shares of the real estate investment trust’s stock valued at $108,553,000 after buying an additional 340,742 shares during the last quarter. Finally, Brookfield Corp ON grew its holdings in American Tower by 88.3% during the 3rd quarter. Brookfield Corp ON now owns 710,725 shares of the real estate investment trust’s stock valued at $165,286,000 after buying an additional 333,209 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Up 2.0 %

Shares of AMT opened at $209.63 on Tuesday. 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 firm has a market capitalization of $97.96 billion, a P/E ratio of 88.45, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. The stock’s fifty day simple moving average is $187.60 and its 200 day simple moving average is $206.52. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56.

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

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio (DPR) is currently 134.72%.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the transaction, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

AMT has been the topic of a number of analyst reports. The Goldman Sachs Group lowered their target price on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Morgan Stanley lowered their target price on American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Citigroup lowered their target price on American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Finally, Mizuho lowered their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $225.21.

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.