Broad Run Investment Management LLC lessened its holdings in American Tower Corp (NYSE:AMT) by 0.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,419,788 shares of the real estate investment trust’s stock after selling 2,593 shares during the period. American Tower accounts for approximately 11.1% of Broad Run Investment Management LLC’s investment portfolio, making the stock its biggest holding. Broad Run Investment Management LLC’s holdings in American Tower were worth $345,231,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in AMT. Fieldpoint Private Securities LLC boosted its holdings in American Tower by 69.6% in the third quarter. Fieldpoint Private Securities LLC now owns 1,060 shares of the real estate investment trust’s stock worth $145,000 after purchasing an additional 435 shares during the period. Americafirst Capital Management LLC acquired a new position in shares of American Tower during the third quarter valued at $173,000. Pinebridge Investments L.P. acquired a new position in shares of American Tower during the fourth quarter valued at $182,000. SNS Financial Group LLC acquired a new position in shares of American Tower during the fourth quarter valued at $201,000. Finally, Laurel Wealth Advisors Inc. acquired a new position in shares of American Tower during the third quarter valued at $202,000. 92.52% of the stock is owned by hedge funds and other institutional investors.
AMT has been the subject of several analyst reports. Citigroup reduced their price target on shares of 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 price target on shares of American Tower and gave the company a “buy” rating in a report on Tuesday, February 27th. Zacks Investment Research raised shares of American Tower from a “hold” rating to a “buy” rating and set a $160.00 price target for the company in a report on Tuesday, January 2nd. ValuEngine downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Oppenheimer boosted their price target on shares of American Tower from $155.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and sixteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $157.87.
Shares of American Tower Corp (NYSE AMT) opened at $145.08 on Tuesday. The firm has a market cap of $61,580.00, a PE ratio of 55.16, a P/E/G ratio of 1.61 and a beta of 0.80. American Tower Corp has a 1-year low of $113.21 and a 1-year 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 posted its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.59 earnings per share for the quarter, missing the 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 return on equity of 17.20% and a net margin of 18.31%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.52 EPS. analysts forecast that American Tower Corp will post 7.09 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Wednesday, April 11th will be issued a $0.75 dividend. The ex-dividend date is Tuesday, April 10th. This represents a $3.00 annualized dividend and a yield of 2.07%. This is an increase from American Tower’s previous quarterly dividend of $0.70. American Tower’s dividend payout ratio is presently 106.46%.
American Tower announced that its board has authorized a stock repurchase program on Thursday, December 7th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
TRADEMARK VIOLATION WARNING: This report was first published by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this report on another site, it was illegally stolen and republished in violation of international copyright laws. The original version of this report can be read at https://sportsperspectives.com/2018/03/13/american-tower-corp-amt-is-broad-run-investment-management-llcs-largest-position.html.
American Tower Company 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.
Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corp (NYSE:AMT).
Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.