American Tower Co. (NYSE:AMT) Shares Purchased by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP increased its position in shares of American Tower Co. (NYSE:AMT) by 27.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 240,634 shares of the real estate investment trust’s stock after purchasing an additional 52,155 shares during the period. ExodusPoint Capital Management LP owned 0.05% of American Tower worth $44,135,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Grant Private Wealth Management Inc purchased a new stake in shares of American Tower during the 4th quarter valued at approximately $260,000. Arete Wealth Advisors LLC increased its stake in American Tower by 26.3% during the fourth quarter. Arete Wealth Advisors LLC now owns 5,015 shares of the real estate investment trust’s stock worth $920,000 after acquiring an additional 1,045 shares during the last quarter. World Investment Advisors raised its position in American Tower by 42.7% in the fourth quarter. World Investment Advisors now owns 5,773 shares of the real estate investment trust’s stock valued at $1,059,000 after purchasing an additional 1,728 shares during the period. OneAscent Financial Services LLC acquired a new position in shares of American Tower in the 4th quarter valued at $421,000. Finally, Meeder Advisory Services Inc. grew its holdings in shares of American Tower by 3.9% during the 4th quarter. Meeder Advisory Services Inc. now owns 6,622 shares of the real estate investment trust’s stock worth $1,215,000 after purchasing an additional 251 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Performance

Shares of AMT opened at $217.71 on Thursday. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The stock has a market capitalization of $101.77 billion, a PE ratio of 91.86, 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 stock has a 50-day simple moving average of $200.67 and a 200-day simple moving average of $204.16.

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

American Tower Increases Dividend

The firm 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 $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Friday, April 11th. This is a positive change from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio is 141.37%.

Analyst Ratings Changes

AMT has been the topic of several research analyst reports. Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Scotiabank reduced their price target on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research note on Thursday, January 23rd. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Citigroup lifted their target price on shares of American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a report on Monday, March 10th. Finally, Morgan Stanley started coverage on American Tower in a research report on Tuesday. They set an “overweight” rating and a $250.00 price target for the company. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $232.07.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction dated 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 represents a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is owned by insiders.

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.