New Age Alpha Advisors LLC Boosts Holdings 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% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp grew its stake in American Tower by 3.1% during the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock worth $4,924,091,000 after purchasing an additional 635,726 shares in the last quarter. Geode Capital Management LLC grew its position in shares of American Tower by 1.9% during the third 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 in the last quarter. Norges Bank purchased a new stake in shares of American Tower during the fourth quarter worth approximately $1,164,851,000. Charles Schwab Investment Management Inc. raised its holdings in American Tower by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,316,312 shares of the real estate investment trust’s stock valued at $975,065,000 after acquiring an additional 107,345 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in American Tower by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,422,273 shares of the real estate investment trust’s stock worth $981,455,000 after acquiring an additional 38,436 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the subject of several recent analyst reports. JMP Securities initiated coverage on shares of American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective for the company. Scotiabank lowered 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. The Goldman Sachs Group cut their target price on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Citigroup upped their price target on American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a report on Monday, March 10th. Finally, Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $229.43.

Insider Activity

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the company’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 approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

American Tower Price Performance

Shares of NYSE AMT opened at $214.38 on Friday. The stock has a fifty day moving average price of $198.39 and a 200 day moving average price of $205.01. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. 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 company has a market cap of $100.21 billion, a PE ratio of 90.46, a P/E/G ratio of 1.29 and a beta of 0.85.

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 for the quarter, beating analysts’ consensus estimates 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 revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.29 earnings per share. Sell-side analysts forecast that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors 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 is a positive change from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a dividend yield of 3.17%. American Tower’s payout ratio is currently 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.