Vert Asset Management LLC Raises Holdings in American Tower Co. (NYSE:AMT)

Vert Asset Management LLC increased its position in shares of American Tower Co. (NYSE:AMT) by 10.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 102,371 shares of the real estate investment trust’s stock after buying an additional 9,511 shares during the quarter. American Tower accounts for about 6.4% of Vert Asset Management LLC’s portfolio, making the stock its 6th biggest holding. Vert Asset Management LLC’s holdings in American Tower were worth $18,776,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMT. Fortitude Family Office LLC raised its holdings in American Tower by 269.0% during the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 78 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of American Tower in the 3rd quarter valued at approximately $30,000. Hara Capital LLC acquired a new stake in shares of American Tower in the 3rd quarter valued at approximately $31,000. Legacy Investment Solutions LLC bought a new position in shares of American Tower in the third quarter valued at $34,000. Finally, Activest Wealth Management raised its position in American Tower by 431.0% during the third 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 in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AMT. Barclays decreased their price objective on shares of American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. BMO Capital Markets cut their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Wells Fargo & Company decreased their target price on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Scotiabank cut their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. Finally, JMP Securities started coverage on American Tower in a report on Monday. They set an “outperform” rating and a $225.00 price target for the company. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and an average target price of $226.31.

American Tower Trading Up 3.7 %

Shares of AMT stock opened at $192.01 on Tuesday. The stock has a market cap of $89.72 billion, a P/E ratio of 81.01, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84. American Tower Co. has a 1 year low of $170.46 and a 1 year 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 stock has a 50 day simple moving average of $192.08 and a 200 day simple moving average of $211.24.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.56). The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period last year, the company posted $2.58 earnings per share. On average, research analysts predict that American Tower Co. will post 10.15 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s dividend payout ratio is currently 273.42%.

Insider Activity

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction on 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 transaction, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate 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.