Jag Capital Management LLC Acquires 112 Shares of American Tower Co. (NYSE:AMT)

Jag Capital Management LLC increased its position in American Tower Co. (NYSE:AMT) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,561 shares of the real estate investment trust’s stock after acquiring an additional 112 shares during the quarter. Jag Capital Management LLC’s holdings in American Tower were worth $1,937,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. State Street Corp raised its stake in shares of 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 worth $4,924,091,000 after acquiring an additional 635,726 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of American Tower by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust’s stock worth $2,599,074,000 after buying an additional 204,426 shares during the last quarter. FMR LLC lifted its stake in shares of American Tower by 25.4% during 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 buying an additional 2,152,646 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in American Tower by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,316,312 shares of the real estate investment trust’s stock worth $975,065,000 after purchasing an additional 107,345 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in American Tower by 0.9% in the 3rd quarter. Franklin Resources Inc. now owns 4,422,273 shares of the real estate investment trust’s stock valued at $981,455,000 after buying an additional 38,436 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company decreased their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Morgan Stanley reduced their target price on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. BMO Capital Markets upped 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. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Finally, JMP Securities started coverage on shares of American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 price target on the stock. 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $225.21.

American Tower Stock Performance

Shares of American Tower stock opened at $209.63 on Tuesday. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The business’s fifty day simple moving average is $187.60 and its 200-day simple moving average is $206.52. The firm has a market cap of $97.96 billion, a PE ratio of 88.45, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. 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 (NYSE:AMT) last issued its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the prior year, the business earned $2.29 EPS. American Tower’s revenue was up 3.7% on a year-over-year basis. Equities analysts forecast that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were issued a $1.62 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.09%. American Tower’s dividend 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.