Princeton Capital Management LLC Has $5.11 Million Holdings in American Tower Co. (NYSE:AMT)

Princeton Capital Management LLC cut its position in American Tower Co. (NYSE:AMT) by 6.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,871 shares of the real estate investment trust’s stock after selling 1,924 shares during the quarter. American Tower comprises approximately 1.6% of Princeton Capital Management LLC’s holdings, making the stock its 14th biggest position. Princeton Capital Management LLC’s holdings in American Tower were worth $5,112,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Roxbury Financial LLC bought a new position in shares of American Tower in the 4th quarter valued at about $32,000. Legacy Investment Solutions LLC bought a new position in American Tower during the third quarter worth about $34,000. Crowley Wealth Management Inc. acquired a new position in American Tower during the fourth quarter worth approximately $37,000. Bank of Jackson Hole Trust bought a new stake in American Tower in the fourth quarter valued at approximately $46,000. Finally, Versant Capital Management Inc lifted its position in shares of American Tower by 113.9% in the fourth quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 139 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

American Tower Stock Down 1.6 %

AMT stock opened at $212.75 on Tuesday. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The business has a 50-day simple moving average of $196.71 and a 200 day simple moving average of $205.10. 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 company has a market cap of $99.45 billion, a PE ratio of 89.77, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.29 EPS. Sell-side analysts anticipate that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be given a $1.70 dividend. The ex-dividend date is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a yield of 3.20%. This is a positive change from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio (DPR) is currently 141.37%.

Insiders Place Their Bets

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 value of $3,000,283.70. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the topic of a number of research analyst reports. Mizuho dropped their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Citigroup upped their price target on shares of American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Wells Fargo & Company upgraded shares of American Tower from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $210.00 to $230.00 in a research report on Monday, March 17th. Finally, The Goldman Sachs Group decreased 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. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, American Tower currently has a consensus rating of “Buy” and a consensus price target of $229.43.

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.