American Tower Co. (NYSE:AMT) Shares Bought by Richard W. Paul & Associates LLC

Richard W. Paul & Associates LLC boosted its stake in shares of American Tower Co. (NYSE:AMT) by 6.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,383 shares of the real estate investment trust’s stock after purchasing an additional 140 shares during the period. Richard W. Paul & Associates LLC’s holdings in American Tower were worth $437,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC increased its position 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 valued at $2,474,934,000 after acquiring an additional 2,152,646 shares during the period. Adelante Capital Management LLC grew its stake in American Tower by 2,723.4% during the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock valued at $279,890,000 after purchasing an additional 1,160,890 shares during the last quarter. State Street Corp increased its holdings in shares of American Tower by 3.1% in the third 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 purchasing an additional 635,726 shares during the period. KBC Group NV raised its stake in shares of American Tower by 270.4% in the third quarter. KBC Group NV now owns 466,772 shares of the real estate investment trust’s stock worth $108,553,000 after purchasing an additional 340,742 shares during the last quarter. Finally, Brookfield Corp ON lifted its holdings in shares of American Tower by 88.3% during the third quarter. Brookfield Corp ON now owns 710,725 shares of the real estate investment trust’s stock worth $165,286,000 after purchasing an additional 333,209 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Scotiabank cut their price target on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a report on Thursday, January 23rd. Barclays reduced their target price on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. JMP Securities initiated coverage on American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 price target on the stock. Finally, Wells Fargo & Company decreased their price objective on American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Four 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. According to data from MarketBeat, American Tower has an average rating of “Moderate Buy” and an average price target of $225.21.

American Tower Trading Up 0.8 %

Shares of AMT stock opened at $205.61 on Friday. The stock has a 50 day simple moving average of $187.09 and a 200-day simple moving average of $206.81. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The company has a market cap of $96.08 billion, a price-to-earnings ratio of 86.76, a PEG ratio of 1.29 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

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 (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.83. The business had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the firm posted $2.29 earnings per share. On average, equities research analysts expect that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.15%. American Tower’s dividend payout ratio (DPR) is currently 273.42%.

Insider Buying and Selling at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the business’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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.

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.