Archer Investment Corp Has $482,000 Stock Position in American Tower Co. (NYSE:AMT)

Archer Investment Corp boosted its stake in American Tower Co. (NYSE:AMT) by 12.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,234 shares of the real estate investment trust’s stock after buying an additional 250 shares during the period. Archer Investment Corp’s holdings in American Tower were worth $482,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of AMT. McClarren Financial Advisors Inc. acquired a new position in shares of American Tower during the 3rd quarter worth approximately $27,000. Emerald Advisers LLC acquired a new position in shares of American Tower during the 3rd quarter worth approximately $29,000. Thompson Investment Management Inc. acquired a new position in shares of American Tower during the 4th quarter worth approximately $29,000. Pinnacle Holdings LLC acquired a new position in shares of American Tower during the 1st quarter worth approximately $29,000. Finally, Eagle Bay Advisors LLC acquired a new position in shares of American Tower during the 2nd quarter worth approximately $30,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Mizuho assumed coverage on shares of American Tower in a report on Monday, April 8th. They set a “neutral” rating and a $205.00 price target for the company. JPMorgan Chase & Co. cut their price target on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Morgan Stanley upped their price target on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a report on Monday. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Finally, BMO Capital Markets dropped their price objective on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $217.36.

Insiders Place Their Bets

In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the sale, the chief financial officer now directly owns 62,969 shares in the company, valued at $12,953,352.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the sale, the chief financial officer now directly owns 62,969 shares in the company, valued at $12,953,352.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $962,584.84. Following the completion of the sale, the director now owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

American Tower Trading Down 0.1 %

AMT opened at $172.02 on Thursday. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $219.10. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. The company has a fifty day moving average of $192.83 and a 200-day moving average of $193.58. The stock has a market cap of $80.22 billion, a PE ratio of 54.09, a price-to-earnings-growth ratio of 1.42 and a beta of 0.67.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($1.16). American Tower had a return on equity of 12.80% and a net margin of 13.31%. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same quarter last year, the company earned $2.34 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts predict that American Tower Co. will post 10.06 EPS for the current year.

American Tower Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend is Thursday, April 11th. American Tower’s payout ratio is 203.77%.

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.