Avenir Corp trimmed its stake in shares of American Tower Corp (NYSE:AMT) by 11.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 770,402 shares of the real estate investment trust’s stock after selling 102,414 shares during the quarter. American Tower accounts for 10.2% of Avenir Corp’s holdings, making the stock its largest holding. Avenir Corp’s holdings in American Tower were worth $109,913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its holdings in American Tower by 5.4% during the 3rd quarter. Janus Henderson Group PLC now owns 7,868,533 shares of the real estate investment trust’s stock worth $1,075,458,000 after buying an additional 400,117 shares during the last quarter. Edgewood Management LLC lifted its holdings in American Tower by 1.6% during the 3rd quarter. Edgewood Management LLC now owns 6,326,717 shares of the real estate investment trust’s stock worth $864,736,000 after buying an additional 99,052 shares during the last quarter. Geode Capital Management LLC lifted its holdings in American Tower by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 4,113,653 shares of the real estate investment trust’s stock worth $585,539,000 after buying an additional 136,669 shares during the last quarter. American Century Companies Inc. lifted its holdings in American Tower by 1.5% during the 4th quarter. American Century Companies Inc. now owns 3,248,232 shares of the real estate investment trust’s stock worth $463,425,000 after buying an additional 46,708 shares during the last quarter. Finally, Commonwealth Bank of Australia lifted its holdings in American Tower by 26.1% during the 3rd quarter. Commonwealth Bank of Australia now owns 2,790,646 shares of the real estate investment trust’s stock worth $380,074,000 after buying an additional 577,069 shares during the last quarter. 91.78% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on AMT. Citigroup decreased their price target on American Tower from $169.00 to $162.00 and set a “buy” rating for the company in a report on Monday, March 5th. KeyCorp set a $171.00 target price on American Tower and gave the company a “buy” rating in a report on Tuesday, February 27th. ValuEngine downgraded American Tower from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Morgan Stanley boosted their target price on American Tower from $155.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, November 14th. Finally, Zacks Investment Research downgraded American Tower from a “hold” rating to a “sell” rating in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $157.87.
American Tower Corp (AMT) opened at $143.58 on Monday. The stock has a market capitalization of $61,580.00, a PE ratio of 54.59, a P/E/G ratio of 1.61 and a beta of 0.80. American Tower Corp has a 52-week low of $113.11 and a 52-week high of $155.28. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.25 and a quick ratio of 1.25.
American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $1.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.63 by ($0.04). The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.69 billion. American Tower had a net margin of 18.31% and a return on equity of 17.20%. The business’s revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.52 EPS. equities analysts expect that American Tower Corp will post 7.09 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Wednesday, April 11th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Tuesday, April 10th. This is a boost from American Tower’s previous quarterly dividend of $0.70. American Tower’s payout ratio is 106.46%.
American Tower declared that its Board of Directors has initiated a stock buyback plan on Thursday, December 7th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
American Tower Profile
American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.
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