American Tower Co. (NYSE:AMT) Shares Bought by Cross Staff Investments Inc

Cross Staff Investments Inc raised its position in shares of American Tower Co. (NYSE:AMT) by 5.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,027 shares of the real estate investment trust’s stock after purchasing an additional 244 shares during the quarter. American Tower comprises 1.0% of Cross Staff Investments Inc’s portfolio, making the stock its 25th largest holding. Cross Staff Investments Inc’s holdings in American Tower were worth $1,085,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AMT. McClarren Financial Advisors Inc. acquired a new stake in shares of American Tower during the third quarter worth $27,000. Emerald Advisers LLC acquired a new position in shares of American Tower in the third quarter worth about $29,000. Thompson Investment Management Inc. acquired a new stake in shares of American Tower during the fourth quarter valued at approximately $29,000. Brown Shipley& Co Ltd acquired a new position in American Tower in the 3rd quarter worth approximately $35,000. Finally, Valley National Advisers Inc. grew its position in American Tower by 200.0% during the 4th quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 118 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Activity

In related news, CFO Rodney M. Smith sold 11,510 shares of the firm’s 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 available through this hyperlink. In other news, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

American Tower Stock Performance

AMT traded down $0.49 during trading on Friday, reaching $172.41. 934,611 shares of the company’s stock were exchanged, compared to its average volume of 2,412,041. The business has a 50 day moving average price of $190.60 and a 200 day moving average price of $193.90. The company has a market capitalization of $80.40 billion, a P/E ratio of 54.39, a PEG ratio of 1.37 and a beta of 0.67. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week 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.

American Tower (NYSE:AMT) 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 net margin of 13.31% and a return on equity of 12.80%. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter last year, the firm posted $2.34 EPS. The business’s revenue was up 3.0% on a year-over-year basis. As a group, analysts predict that American Tower Co. will post 9.94 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend is Thursday, April 11th. American Tower’s dividend payout ratio is 203.77%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Morgan Stanley raised 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, April 15th. JPMorgan Chase & Co. cut their target price on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. BMO Capital Markets lowered their price target on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Finally, Barclays lifted their price objective on American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $217.36.

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.