Commons Capital LLC Purchases 235 Shares of American Tower Co. (NYSE:AMT)

Commons Capital LLC raised its holdings in shares of American Tower Co. (NYSE:AMT) by 4.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,349 shares of the real estate investment trust’s stock after acquiring an additional 235 shares during the quarter. American Tower makes up about 0.9% of Commons Capital LLC’s investment portfolio, making the stock its 23rd biggest position. Commons Capital LLC’s holdings in American Tower were worth $981,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AMT. Profund Advisors LLC boosted its stake in American Tower by 2.9% during the second quarter. Profund Advisors LLC now owns 7,426 shares of the real estate investment trust’s stock valued at $1,443,000 after buying an additional 212 shares during the last quarter. Frank Rimerman Advisors LLC raised its holdings in American Tower by 17,200.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 3,633 shares of the real estate investment trust’s stock valued at $706,000 after buying an additional 3,612 shares during the period. Public Sector Pension Investment Board lifted its holdings in shares of American Tower by 17.7% in the 2nd quarter. Public Sector Pension Investment Board now owns 64,886 shares of the real estate investment trust’s stock worth $12,613,000 after acquiring an additional 9,751 shares during the last quarter. Bank of Montreal Can grew its stake in shares of American Tower by 12.8% during the second quarter. Bank of Montreal Can now owns 954,016 shares of the real estate investment trust’s stock valued at $185,623,000 after buying an additional 108,355 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in American Tower in the second quarter worth $89,752,000. Institutional investors own 92.69% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction on Thursday, January 16th. The shares were 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 in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.18% of the stock is owned by insiders.

American Tower Trading Down 0.2 %

NYSE:AMT opened at $189.94 on Wednesday. The firm has a 50 day moving average of $192.75 and a 200 day moving average of $211.51. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The stock has a market capitalization of $88.76 billion, a price-to-earnings ratio of 80.14, a PEG ratio of 1.28 and a beta of 0.84.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same period in the previous year, the business earned $2.58 EPS. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that American Tower Co. will post 10.15 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AMT. The Goldman Sachs Group decreased their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Mizuho lowered their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Scotiabank reduced their price objective on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 30th. BMO Capital Markets lowered their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Finally, StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $230.67.

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.