Jacobi Capital Management LLC Boosts Stake in American Tower Co. (NYSE:AMT)

Jacobi Capital Management LLC lifted its stake in shares of American Tower Co. (NYSE:AMT) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,103 shares of the real estate investment trust’s stock after purchasing an additional 405 shares during the period. Jacobi Capital Management LLC’s holdings in American Tower were worth $1,486,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of AMT. Hara Capital LLC acquired a new stake in American Tower during the third quarter worth about $31,000. Roxbury Financial LLC acquired a new stake in shares of American Tower in the fourth quarter valued at approximately $32,000. Legacy Investment Solutions LLC acquired a new position in shares of American Tower during the third quarter valued at approximately $34,000. Activest Wealth Management increased its stake in shares of American Tower by 431.0% during the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 125 shares during the period. Finally, Bank of Jackson Hole Trust acquired a new position in shares of American Tower during the fourth quarter valued at approximately $46,000. Institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the subject of a number of research reports. Wells Fargo & Company reduced their target price on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Scotiabank decreased their price objective 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. The Goldman Sachs Group decreased their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, Mizuho decreased their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, American Tower presently has an average rating of “Moderate Buy” and an average price target of $225.21.

Insider Activity

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction dated 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 in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is owned by company insiders.

American Tower Stock Performance

NYSE AMT opened at $205.61 on Friday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market capitalization of $96.08 billion, a price-to-earnings ratio of 86.76, a P/E/G ratio of 1.29 and a beta of 0.84. The company’s fifty day moving average is $187.09 and its two-hundred day moving average is $206.69. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56.

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 (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same period last year, the business posted $2.29 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. Equities research analysts forecast that American Tower Co. will post 10.14 EPS for the current year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were given 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 dividend yield of 3.15%. American Tower’s dividend payout ratio (DPR) is currently 134.72%.

American Tower Company 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.