New Age Alpha Advisors LLC Grows Stock Position in American Tower Co. (NYSE:AMT)

New Age Alpha Advisors LLC boosted its holdings in shares of American Tower Co. (NYSE:AMT) by 99,327.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 53,691 shares of the real estate investment trust’s stock after buying an additional 53,637 shares during the quarter. New Age Alpha Advisors LLC’s holdings in American Tower were worth $9,847,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Roxbury Financial LLC bought a new position in shares of American Tower during the 4th quarter valued at approximately $32,000. Graney & King LLC bought a new position in shares of American Tower in the fourth quarter worth approximately $32,000. Legacy Investment Solutions LLC bought a new stake in shares of American Tower during the 3rd quarter valued at $34,000. Crowley Wealth Management Inc. purchased a new position in shares of American Tower during the 4th quarter valued at $37,000. Finally, Bank of Jackson Hole Trust bought a new position in American Tower in the 4th quarter worth $46,000. 92.69% of the stock is currently owned by institutional investors.

American Tower Trading Up 2.1 %

NYSE AMT opened at $214.38 on Friday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The company’s 50-day simple moving average is $198.39 and its two-hundred day simple moving average is $205.01. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company has a market capitalization of $100.21 billion, a price-to-earnings ratio of 90.46, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 22.01% and a net margin of 10.05%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.29 earnings per share. Equities analysts forecast that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Friday, April 11th. This is a positive change from American Tower’s previous quarterly dividend of $1.62. American Tower’s payout ratio is currently 141.37%.

Analysts Set New Price Targets

Several brokerages have recently commented on AMT. JMP Securities initiated coverage on American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price objective on the stock. Citizens Jmp raised American Tower to a “strong-buy” rating in a report on Monday, January 27th. BMO Capital Markets increased their price objective on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Scotiabank cut their target price on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research note on Thursday, January 23rd. Finally, Morgan Stanley dropped their price objective on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, American Tower has an average rating of “Buy” and a consensus target price of $229.43.

Insider Transactions at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the transaction, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate 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.