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

NEOS Investment Management LLC raised its holdings in American Tower Co. (NYSE:AMT) by 30.7% during the fourth quarter, HoldingsChannel reports. The firm owned 26,446 shares of the real estate investment trust’s stock after buying an additional 6,219 shares during the period. NEOS Investment Management LLC’s holdings in American Tower were worth $4,850,000 as of its most recent filing with the SEC.

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

American Tower Price Performance

American Tower stock opened at $214.38 on Friday. The firm has a market capitalization of $100.21 billion, a P/E ratio of 90.46, a PEG ratio of 1.29 and a beta of 0.85. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The firm has a fifty day moving average of $198.39 and a 200-day moving average of $205.01.

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 analysts’ consensus estimates of $1.79 by $0.83. The firm 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 firm’s 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. As a group, analysts predict 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 dividend of $1.70 per share. 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 payout ratio is presently 141.37%.

Analysts Set New Price Targets

Several brokerages have commented on AMT. JMP Securities started coverage on shares of American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 target price on the stock. Wells Fargo & Company upgraded shares of American Tower from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $210.00 to $230.00 in a research report on Monday, March 17th. BMO Capital Markets upped their target price on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Morgan Stanley lowered their price target on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $229.43.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

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.