8,369 Shares in American Tower Co. (REIT) (NYSE:AMT) Acquired by Jacobs & Co. CA

Jacobs & Co. CA purchased a new position in shares of American Tower Co. (REIT) (NYSE:AMT) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 8,369 shares of the real estate investment trust’s stock, valued at approximately $2,000,000.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in American Tower in the 4th quarter valued at $843,826,000. Morgan Stanley raised its holdings in American Tower by 23.9% in the 4th quarter. Morgan Stanley now owns 4,194,328 shares of the real estate investment trust’s stock valued at $941,458,000 after acquiring an additional 808,943 shares in the last quarter. BlackRock Inc. raised its holdings in shares of American Tower by 2.3% during the 4th quarter. BlackRock Inc. now owns 34,348,573 shares of the real estate investment trust’s stock worth $7,709,879,000 after buying an additional 776,600 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of American Tower by 19.5% during the 4th quarter. Principal Financial Group Inc. now owns 4,749,596 shares of the real estate investment trust’s stock worth $1,066,094,000 after buying an additional 776,322 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of American Tower by 57.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 2,115,989 shares of the real estate investment trust’s stock worth $474,955,000 after buying an additional 772,309 shares in the last quarter. 89.97% of the stock is owned by institutional investors and hedge funds.

NYSE AMT traded down $1.06 on Thursday, hitting $243.65. 14,492 shares of the stock traded hands, compared to its average volume of 2,344,672. The business’s fifty day moving average is $222.85 and its two-hundred day moving average is $228.80. American Tower Co. has a 12 month low of $197.50 and a 12 month high of $272.20. The firm has a market capitalization of $108.27 billion, a price-to-earnings ratio of 57.85, a PEG ratio of 1.57 and a beta of 0.25. The company has a debt-to-equity ratio of 5.73, a quick ratio of 1.35 and a current ratio of 1.35.

American Tower (NYSE:AMT) last posted 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 the consensus estimate of $2.07 billion. During the same period in the previous year, the business earned $1.95 earnings per share. American Tower’s revenue was up 10.3% on a year-over-year basis. Analysts expect that American Tower Co. will post 8.16 EPS for the current fiscal year.

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

In other news, EVP Olivier Puech sold 3,268 shares of the firm’s stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $220.00, for a total value of $718,960.00. Following the completion of the transaction, the executive vice president now directly owns 19,531 shares of the company’s stock, valued at $4,296,820. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.65% of the stock is owned by company insiders.

A number of brokerages recently weighed in on AMT. Cowen reduced their price objective on American Tower from $334.00 to $324.00 and set an “outperform” rating on the stock in a research report on Friday, February 26th. Royal Bank of Canada cut their target price on American Tower from $275.00 to $250.00 and set an “outperform” rating on the stock in a research report on Monday, March 15th. KeyCorp raised American Tower from a “sector weight” rating to an “overweight” rating and set a $275.00 price target on the stock in a research note on Wednesday, March 31st. Deutsche Bank Aktiengesellschaft downgraded American Tower from a “buy” rating to a “hold” rating and dropped their price target for the stock from $295.00 to $245.00 in a research note on Friday, December 11th. Finally, Credit Suisse Group lowered their price objective on American Tower from $307.00 to $296.00 and set an “outperform” rating for the company in a research note on Thursday, March 4th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. American Tower has an average rating of “Buy” and a consensus price target of $270.55.

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.

Further Reading: NASDAQ Stock Market Explained

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 Co. (REIT) (NYSE:AMT).

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

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