Argentarii LLC Buys Shares of 1,237 American Tower Co. (NYSE:AMT)

Argentarii LLC bought a new stake in American Tower Co. (NYSE:AMT) during the 4th quarter, Holdings Channel reports. The firm bought 1,237 shares of the real estate investment trust’s stock, valued at approximately $227,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Roxbury Financial LLC acquired a new position in shares of American Tower in the 4th quarter worth approximately $32,000. Legacy Investment Solutions LLC acquired a new position in shares of American Tower in the 3rd quarter worth approximately $34,000. Activest Wealth Management lifted its holdings in shares of American Tower by 431.0% in the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 125 shares during the last quarter. Bank of Jackson Hole Trust acquired a new position in shares of American Tower in the 4th quarter worth approximately $46,000. Finally, Versant Capital Management Inc lifted its holdings in shares of American Tower by 113.9% in the 4th quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 139 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Trading Up 2.7 %

Shares of NYSE:AMT opened at $212.49 on Monday. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The company’s 50 day moving average is $189.60 and its two-hundred day moving average is $206.21. 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 cap of $99.29 billion, a PE ratio of 89.66, a P/E/G ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.83. The company had revenue of $2.55 billion for 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 company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.29 EPS. Equities analysts predict that American Tower Co. will post 10.14 earnings per share 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. Investors of record on Friday, April 11th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.20%. This is an increase from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. American Tower’s dividend payout ratio (DPR) is 134.72%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Scotiabank decreased their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a report on Thursday, January 23rd. JMP Securities assumed coverage on shares of American Tower in a report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price objective on the stock. BMO Capital Markets upped their target price on shares of American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Mizuho cut their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $225.21.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the transaction, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

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.