Postrock Partners LLC Purchases Shares of 6,138 American Tower Co. (NYSE:AMT)

Postrock Partners LLC acquired a new stake in shares of American Tower Co. (NYSE:AMT) in the 4th quarter, Holdings Channel.com reports. The fund acquired 6,138 shares of the real estate investment trust’s stock, valued at approximately $1,126,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rehmann Capital Advisory Group raised its holdings in American Tower by 4.2% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock valued at $332,000 after buying an additional 58 shares during the period. Precedent Wealth Partners LLC boosted its stake in shares of American Tower by 4.7% during the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock valued at $235,000 after purchasing an additional 58 shares in the last quarter. Resonant Capital Advisors LLC lifted its stake in shares of American Tower by 5.8% during the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock worth $206,000 after purchasing an additional 61 shares during the last quarter. Calamos Wealth Management LLC boosted its holdings in shares of American Tower by 2.9% in the 4th quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust’s stock valued at $398,000 after buying an additional 61 shares in the last quarter. Finally, Sunburst Financial Group LLC boosted its stake in American Tower by 4.9% in the fourth quarter. Sunburst Financial Group LLC now owns 1,354 shares of the real estate investment trust’s stock valued at $248,000 after acquiring an additional 63 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AMT shares. Morgan Stanley dropped their price target on American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Scotiabank cut their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday, January 23rd. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Finally, BMO Capital Markets upped their price objective on American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $226.29.

American Tower Stock Performance

Shares of AMT opened at $207.29 on Friday. The company’s 50 day simple moving average is $191.76 and its 200-day simple moving average is $206.06. American Tower Co. has a 12-month low of $170.46 and a 12-month 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 firm has a market cap of $96.90 billion, a PE ratio of 87.46, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85.

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

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, April 11th. This is a boost from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.28%. American Tower’s dividend payout ratio is 141.37%.

About American Tower

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.