Cobblestone Capital Advisors LLC NY Has $13.40 Million Stake in American Tower Co. (NYSE:AMT)

Cobblestone Capital Advisors LLC NY grew its position in shares of American Tower Co. (NYSE:AMT) by 22.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,052 shares of the real estate investment trust’s stock after buying an additional 13,531 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in American Tower were worth $13,398,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. SVB Wealth LLC bought a new position in shares of American Tower during the 4th quarter worth approximately $1,800,000. Yelin Lapidot Holdings Management Ltd. lifted its position in shares of American Tower by 84.3% during the 4th quarter. Yelin Lapidot Holdings Management Ltd. now owns 2,046 shares of the real estate investment trust’s stock worth $375,000 after buying an additional 936 shares in the last quarter. Linscomb Wealth Inc. raised its holdings in shares of American Tower by 1.0% in the 4th quarter. Linscomb Wealth Inc. now owns 51,761 shares of the real estate investment trust’s stock worth $9,493,000 after purchasing an additional 498 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of American Tower in the 4th quarter worth approximately $43,193,000. Finally, FUKOKU MUTUAL LIFE INSURANCE Co raised its holdings in American Tower by 11.9% during the 4th quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 2,550 shares of the real estate investment trust’s stock valued at $468,000 after acquiring an additional 271 shares during the period. Institutional investors own 92.69% of the company’s stock.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the 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 completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

AMT has been the topic of a number of analyst reports. BMO Capital Markets boosted their target price on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday. Mizuho lowered their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. JMP Securities initiated coverage on shares of American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 target price on the stock. Barclays lowered their target price on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.21.

American Tower Stock Up 0.8 %

Shares of NYSE:AMT opened at $205.61 on Friday. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The firm has a fifty day moving average of $187.09 and a 200 day moving average of $206.81. The firm has a market capitalization of $96.08 billion, a PE ratio of 86.76, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last posted its quarterly 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 during 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 firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.29 earnings per share. As a group, research analysts anticipate that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced 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 dividend yield of 3.15%. American Tower’s dividend payout ratio is presently 273.42%.

American Tower 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.