Jacobi Capital Management LLC Purchases 405 Shares of American Tower Co. (NYSE:AMT)

Jacobi Capital Management LLC grew its stake in American Tower Co. (NYSE:AMT) by 5.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,103 shares of the real estate investment trust’s stock after buying an additional 405 shares during the quarter. Jacobi Capital Management LLC’s holdings in American Tower were worth $1,486,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hara Capital LLC purchased a new stake in shares of American Tower during the third quarter worth about $31,000. Roxbury Financial LLC bought a new stake in shares of American Tower in the 4th quarter valued at approximately $32,000. Legacy Investment Solutions LLC bought a new stake in shares of American Tower in the 3rd quarter valued at approximately $34,000. Activest Wealth Management lifted its stake in shares of American Tower by 431.0% in the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 125 shares during the last quarter. Finally, Bank of Jackson Hole Trust bought a new stake in shares of American Tower during the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business’s 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 completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.18% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on AMT. JMP Securities began coverage on American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective on the stock. Wells Fargo & Company cut their price target on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Mizuho dropped their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. BMO Capital Markets boosted their target price on American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Morgan Stanley lowered their price target on American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.21.

American Tower Stock Performance

NYSE AMT opened at $205.61 on Friday. 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 business’s 50-day moving average price is $187.09 and its 200 day moving average price is $206.69. The firm has a market cap of $96.08 billion, a P/E ratio of 86.76, a P/E/G ratio of 1.29 and a beta of 0.84.

American Tower (NYSE:AMT) last announced 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 company 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 firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.29 EPS. On average, equities research analysts expect that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date was Friday, December 27th. American Tower’s payout ratio is currently 134.72%.

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.