Dupont Capital Management Corp Takes $6.55 Million Position in American Tower Co. (NYSE:AMT)

Dupont Capital Management Corp purchased a new stake in American Tower Co. (NYSE:AMTFree Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 30,320 shares of the real estate investment trust’s stock, valued at approximately $6,545,000.

Other institutional investors also recently modified their holdings of the company. FAS Wealth Partners Inc. bought a new position in American Tower during the fourth quarter worth $2,001,000. Builder Investment Group Inc. ADV acquired a new stake in shares of American Tower in the 4th quarter valued at $229,000. Essex Savings Bank boosted its stake in shares of American Tower by 7.1% in the 4th quarter. Essex Savings Bank now owns 1,424 shares of the real estate investment trust’s stock valued at $307,000 after purchasing an additional 94 shares in the last quarter. Zimmermann Investment Management & Planning LLC acquired a new stake in shares of American Tower in the 4th quarter valued at $255,000. Finally, Parsons Capital Management Inc. RI boosted its stake in shares of American Tower by 0.3% in the 4th quarter. Parsons Capital Management Inc. RI now owns 33,603 shares of the real estate investment trust’s stock valued at $7,254,000 after purchasing an additional 105 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In related news, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the transaction, the director now owns 18,545 shares in the company, valued at $3,532,080.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the transaction, the chief financial officer now owns 62,969 shares in the company, valued at $12,953,352.99. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the transaction, the director now owns 18,545 shares in the company, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.

American Tower Price Performance

NYSE AMT opened at $192.18 on Wednesday. The business has a 50 day simple moving average of $195.73 and a 200 day simple moving average of $192.53. American Tower Co. has a 52-week low of $154.58 and a 52-week high of $219.10. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market cap of $89.62 billion, a price-to-earnings ratio of 60.43, a PEG ratio of 1.34 and a beta of 0.67.

American Tower (NYSE:AMTGet Free Report) last posted its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). American Tower had a return on equity of 12.80% and a net margin of 13.31%. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the previous year, the company posted $2.34 earnings per share. American Tower’s revenue for the quarter was up 3.0% compared to the same quarter last year. Analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Thursday, April 11th. American Tower’s payout ratio is currently 213.84%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Barclays boosted their target price on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. HSBC initiated coverage on shares of American Tower in a research note on Thursday, December 14th. They issued a “buy” rating and a $245.00 target price on the stock. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. BMO Capital Markets reduced their price target on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. reduced their price target on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $215.90.

Read Our Latest Analysis on American Tower

About American Tower

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for American Tower (NYSE:AMT)

Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.