NEOS Investment Management LLC Grows Stake in American Tower Co. (NYSE:AMT)

NEOS Investment Management LLC lifted its stake in American Tower Co. (NYSE:AMT) by 30.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,446 shares of the real estate investment trust’s stock after purchasing an additional 6,219 shares during the quarter. NEOS Investment Management LLC’s holdings in American Tower were worth $4,850,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMT. Partners Group Holding AG increased its position in American Tower by 8.3% during the fourth quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust’s stock valued at $69,438,000 after acquiring an additional 28,988 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of 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 acquiring an additional 314,769 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of American Tower during the 3rd quarter valued at about $1,156,000. TigerOak Management L.L.C. bought a new stake in shares of American Tower in the 4th quarter worth about $1,102,000. Finally, Brookstone Capital Management grew its stake 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 valued at $1,629,000 after buying an additional 1,995 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

AMT has been the subject of several recent research reports. Mizuho reduced their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report 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. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. JMP Securities assumed coverage on shares of American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 price target for the company. Finally, BMO Capital Markets upped their price objective on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, American Tower has an average rating of “Buy” and an average price target of $229.43.

American Tower Price Performance

AMT stock opened at $214.38 on Friday. The business’s fifty day moving average price is $198.39 and its 200 day moving average price is $205.01. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The company has a market capitalization of $100.21 billion, a PE ratio of 90.46, a P/E/G ratio of 1.29 and a beta of 0.85.

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

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be issued a $1.70 dividend. This is a boost from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 annualized dividend and a yield of 3.17%. American Tower’s dividend payout ratio (DPR) is 141.37%.

Insiders Place Their Bets

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction on Thursday, January 16th. The shares were 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 of the company’s stock, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is currently owned by company insiders.

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.