HUB Investment Partners LLC Buys 1,574 Shares of American Tower Co. (NYSE:AMT)

HUB Investment Partners LLC raised its position in shares of American Tower Co. (NYSE:AMT) by 7.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,513 shares of the real estate investment trust’s stock after buying an additional 1,574 shares during the quarter. HUB Investment Partners LLC’s holdings in American Tower were worth $4,129,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Nordea Investment Management AB increased its stake in American Tower by 28.5% during the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after buying an additional 314,769 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of American Tower during the 3rd quarter worth about $1,156,000. TigerOak Management L.L.C. purchased a new stake in American Tower in the fourth quarter valued at approximately $1,102,000. Brookstone Capital Management lifted its position in shares of American Tower by 29.0% during the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock worth $1,629,000 after purchasing an additional 1,995 shares in the last quarter. Finally, CCLA Investment Management boosted its holdings in American Tower by 5.5% in the fourth quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust’s stock valued at $79,344,000 after purchasing an additional 22,523 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AMT. Barclays reduced their price target on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. BMO Capital Markets lifted their price objective on American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Morgan Stanley cut their price target on American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Citigroup boosted their price objective on shares of American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Finally, Citizens Jmp upgraded 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 assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $228.79.

American Tower Trading Down 0.5 %

NYSE:AMT opened at $213.83 on Thursday. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The business has a 50 day moving average price of $194.43 and a two-hundred day moving average price of $205.60. The company has a market cap of $99.95 billion, a P/E ratio of 90.22, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the prior year, the company earned $2.29 earnings per share. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, analysts expect that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Friday, April 11th. This is a boost from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio is presently 141.37%.

Insider Transactions at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.18% of the stock is owned by company insiders.

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.