American Tower Co. (NYSE:AMT) Shares Acquired by Cibc World Markets Corp

Cibc World Markets Corp raised its holdings in shares of American Tower Co. (NYSE:AMT) by 12.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 207,680 shares of the real estate investment trust’s stock after purchasing an additional 22,234 shares during the quarter. Cibc World Markets Corp’s holdings in American Tower were worth $38,091,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Roxbury Financial LLC bought a new stake in shares of American Tower in the 4th quarter valued at approximately $32,000. Legacy Investment Solutions LLC bought a new position in shares of American Tower during the third quarter valued at approximately $34,000. Activest Wealth Management grew its stake in American Tower by 431.0% during the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 125 shares during the last quarter. Bank of Jackson Hole Trust bought a new position in American Tower during the 4th quarter worth $46,000. Finally, Versant Capital Management Inc grew its stake in American Tower by 113.9% during the 4th quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 139 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the subject of several recent research reports. Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Wells Fargo & Company decreased their target price on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. BMO Capital Markets increased their price objective on American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. The Goldman Sachs Group decreased their price target on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, JMP Securities started coverage on American Tower in a research note on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target for the company. Four 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $226.29.

American Tower Trading Up 1.6 %

Shares of NYSE:AMT opened at $211.02 on Monday. The stock has a market capitalization of $98.64 billion, a price-to-earnings ratio of 89.04, a PEG ratio of 1.29 and a beta of 0.85. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The company has a 50 day moving average price of $192.33 and a 200 day moving average price of $205.68. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56.

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

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.22%. 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. American Tower’s dividend payout ratio (DPR) is presently 141.37%.

Insiders Place Their Bets

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 value of $3,000,283.70. Following the completion of 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 position. The transaction 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.

American Tower Company 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.