Mirabaud Asset Management Ltd Grows Stock Holdings in American Tower Co. (NYSE:AMT)

Mirabaud Asset Management Ltd raised its holdings in shares of American Tower Co. (NYSE:AMT) by 20.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,052 shares of the real estate investment trust’s stock after acquiring an additional 1,356 shares during the quarter. Mirabaud Asset Management Ltd’s holdings in American Tower were worth $1,465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Legacy Investment Solutions LLC bought a new stake in shares of American Tower during the 3rd quarter valued at $34,000. Graney & King LLC bought a new position in American Tower in the 4th quarter worth about $32,000. Roxbury Financial LLC purchased a new position in American Tower during the 4th quarter valued at about $32,000. Crowley Wealth Management Inc. bought a new stake in shares of American Tower during the fourth quarter valued at about $37,000. Finally, Hobbs Group Advisors LLC lifted its holdings in shares of American Tower by 51.0% in the third quarter. Hobbs Group Advisors LLC now owns 222 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were 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 $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. JMP Securities began coverage on shares of American Tower in a report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target on the stock. Scotiabank dropped their price objective on 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. Citigroup upped their target price on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Finally, BMO Capital Markets lifted their price target on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, American Tower presently has a consensus rating of “Buy” and a consensus target price of $232.07.

American Tower Price Performance

Shares of American Tower stock opened at $220.43 on Friday. The stock has a market capitalization of $103.04 billion, a price-to-earnings ratio of 93.01, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. The company has a fifty day moving average of $202.22 and a 200-day moving average of $204.19. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. 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 released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, topping the consensus estimate of $1.79 by $0.83. The firm 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 company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.29 earnings per share. Equities research analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be given a $1.70 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 annualized dividend and a yield of 3.08%. This is an increase from American Tower’s previous quarterly dividend of $1.62. American Tower’s payout ratio is presently 141.37%.

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.