10,172 Shares in American Tower Co. (REIT) (NYSE:AMT) Acquired by Everence Capital Management Inc.

Everence Capital Management Inc. bought a new stake in American Tower Co. (REIT) (NYSE:AMT) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,172 shares of the real estate investment trust’s stock, valued at approximately $2,432,000.

Other institutional investors also recently modified their holdings of the company. RWM Asset Management LLC acquired a new stake in American Tower in the fourth quarter valued at approximately $25,000. McClarren Financial Advisors Inc. bought a new stake in shares of American Tower in the fourth quarter worth $26,000. ForthRight Wealth Management LLC bought a new stake in shares of American Tower in the fourth quarter worth $28,000. Vantage Consulting Group Inc bought a new stake in shares of American Tower in the fourth quarter worth $28,000. Finally, Rosenberg Matthew Hamilton bought a new position in American Tower during the fourth quarter worth $29,000. Hedge funds and other institutional investors own 89.97% of the company’s stock.

In other news, EVP Olivier Puech sold 320 shares of the company’s stock in a transaction on Friday, January 8th. The shares were sold at an average price of $220.00, for a total value of $70,400.00. Following the completion of the sale, the executive vice president now owns 17,146 shares of the company’s stock, valued at approximately $3,772,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.65% of the stock is currently owned by corporate insiders.

AMT has been the subject of a number of analyst reports. KeyCorp raised shares of American Tower from a “sector weight” rating to an “overweight” rating and set a $275.00 target price for the company in a research note on Wednesday, March 31st. Wolfe Research began coverage on shares of American Tower in a report on Thursday, March 18th. They set an “outperform” rating on the stock. Cowen cut their price target on shares of American Tower from $334.00 to $324.00 and set an “outperform” rating on the stock in a report on Friday, February 26th. Credit Suisse Group cut their price target on shares of American Tower from $307.00 to $296.00 and set an “outperform” rating on the stock in a report on Thursday, March 4th. Finally, Royal Bank of Canada dropped their target price on shares of American Tower from $275.00 to $250.00 and set an “outperform” rating on the stock in a research note on Monday, March 15th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $270.55.

AMT stock traded down $2.07 during midday trading on Thursday, reaching $242.64. The company had a trading volume of 22,255 shares, compared to its average volume of 2,344,672. The company has a debt-to-equity ratio of 5.73, a current ratio of 1.35 and a quick ratio of 1.35. American Tower Co. has a 1 year low of $197.50 and a 1 year high of $272.20. The company has a market capitalization of $107.83 billion, a P/E ratio of 57.85, a P/E/G ratio of 1.57 and a beta of 0.25. The firm has a 50-day moving average price of $222.85 and a 200-day moving average price of $228.80.

American Tower (NYSE:AMT) last released its quarterly earnings results on Wednesday, February 24th. The real estate investment trust reported $0.82 EPS for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.45). American Tower had a return on equity of 42.42% and a net margin of 24.08%. The company had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the prior year, the firm earned $1.95 EPS. American Tower’s quarterly revenue was up 10.3% on a year-over-year basis. On average, equities analysts predict that American Tower Co. will post 8.16 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 29th. Stockholders of record on Tuesday, April 13th will be paid a $1.24 dividend. This is a boost from American Tower’s previous quarterly dividend of $1.21. The ex-dividend date of this dividend is Monday, April 12th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 2.04%. American Tower’s dividend payout ratio is 62.61%.

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 approximately 181,000 communications sites.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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