Tradewinds LLC. Acquires New Holdings in American Tower Co. (NYSE:AMT)

Tradewinds LLC. bought a new position in American Tower Co. (NYSE:AMT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,318 shares of the real estate investment trust’s stock, valued at approximately $254,000.

Several other hedge funds also recently modified their holdings of the business. Partners Group Holding AG boosted its holdings in American Tower by 8.3% in the fourth quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust’s stock worth $69,438,000 after purchasing an additional 28,988 shares in the last quarter. Nordea Investment Management AB boosted 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 acquiring an additional 314,769 shares in the last quarter. TigerOak Management L.L.C. acquired a new position in shares of American Tower during the 4th quarter valued at about $1,102,000. Brookstone Capital Management raised its stake in shares of American Tower by 29.0% in the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock valued at $1,629,000 after acquiring an additional 1,995 shares in the last quarter. Finally, CCLA Investment Management lifted its holdings in American Tower by 5.5% in the 4th quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust’s stock worth $79,344,000 after purchasing an additional 22,523 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the topic of several analyst reports. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a report on Monday, January 27th. Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Morgan Stanley started coverage on shares of American Tower in a research report on Tuesday. They set an “overweight” rating and a $250.00 target price for the company. Wells Fargo & Company raised American Tower from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $210.00 to $230.00 in a research report on Monday, March 17th. Finally, Citigroup boosted their price objective on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, American Tower currently has an average rating of “Buy” and an average target price of $232.07.

Insider Buying and Selling at American Tower

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 stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the transaction, the chief financial officer now owns 62,792 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.18% of the company’s stock.

American Tower Price Performance

Shares of NYSE:AMT opened at $219.44 on Wednesday. The business’s 50 day moving average is $200.03 and its 200-day moving average is $204.07. 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 firm has a market capitalization of $102.58 billion, a PE ratio of 92.59, a PEG ratio of 1.29 and a beta of 0.85. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56.

American Tower (NYSE:AMT) last posted 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 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 business’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.29 earnings per share. Sell-side analysts predict that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be paid 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 is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a yield of 3.10%. American Tower’s dividend payout ratio (DPR) is currently 141.37%.

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.