American Tower Co. (NYSE:AMT) Stock Position Raised by Torray Investment Partners LLC

Torray Investment Partners LLC boosted its holdings in American Tower Co. (NYSE:AMT) by 16.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,923 shares of the real estate investment trust’s stock after acquiring an additional 6,752 shares during the period. American Tower comprises about 1.3% of Torray Investment Partners LLC’s investment portfolio, making the stock its 29th biggest holding. Torray Investment Partners LLC’s holdings in American Tower were worth $8,973,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. FMR LLC lifted its holdings in shares of American Tower by 25.4% in the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after purchasing an additional 2,152,646 shares during the last quarter. Adelante Capital Management LLC increased its position in American Tower by 2,723.4% in the third quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock worth $279,890,000 after buying an additional 1,160,890 shares during the period. State Street Corp lifted its stake in American Tower by 3.1% in the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock valued at $4,924,091,000 after buying an additional 635,726 shares during the last quarter. KBC Group NV boosted its holdings in shares of American Tower by 270.4% during the third quarter. KBC Group NV now owns 466,772 shares of the real estate investment trust’s stock valued at $108,553,000 after acquiring an additional 340,742 shares during the period. Finally, Brookfield Corp ON grew its position in shares of American Tower by 88.3% during the third quarter. Brookfield Corp ON now owns 710,725 shares of the real estate investment trust’s stock worth $165,286,000 after acquiring an additional 333,209 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling 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 shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the sale, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.

American Tower Stock Up 2.0 %

NYSE AMT opened at $209.63 on Tuesday. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The company has a market capitalization of $97.96 billion, a P/E ratio of 88.45, a PEG ratio of 1.29 and a beta of 0.84. The company’s 50 day simple moving average is $187.60 and its 200 day simple moving average is $206.52. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.83. The company had revenue of $2.55 billion during 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.29 EPS. Equities research analysts expect that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.09%. The ex-dividend date was Friday, December 27th. American Tower’s payout ratio is 134.72%.

Analysts Set New Price Targets

Several analysts recently weighed in on AMT shares. Wells Fargo & Company cut their price objective on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Scotiabank reduced their price objective on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday, January 23rd. JMP Securities assumed coverage on American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 target price on the stock. Hsbc Global Res raised American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Finally, Mizuho lowered their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Four equities research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.21.

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.