Donoghue Forlines LLC Invests $1.28 Million in American Tower Co. (NYSE:AMT)

Donoghue Forlines LLC purchased a new position in American Tower Co. (NYSE:AMT – Get Rating) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 4,367 shares of the real estate investment trust’s stock, valued at approximately $1,277,000.

Several other large investors also recently bought and sold shares of the company. Morgan Stanley lifted its holdings in American Tower by 26.7% during the second quarter. Morgan Stanley now owns 4,272,674 shares of the real estate investment trust’s stock worth $1,154,222,000 after acquiring an additional 900,101 shares in the last quarter. Banque Pictet & Cie SA lifted its holdings in American Tower by 8.2% during the third quarter. Banque Pictet & Cie SA now owns 822 shares of the real estate investment trust’s stock worth $218,000 after acquiring an additional 62 shares in the last quarter. Pictet North America Advisors SA lifted its holdings in American Tower by 8.2% during the third quarter. Pictet North America Advisors SA now owns 822 shares of the real estate investment trust’s stock worth $218,000 after acquiring an additional 62 shares in the last quarter. AlphaCrest Capital Management LLC lifted its holdings in American Tower by 357.7% during the third quarter. AlphaCrest Capital Management LLC now owns 7,007 shares of the real estate investment trust’s stock worth $1,860,000 after acquiring an additional 5,476 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its holdings in shares of American Tower by 33.3% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 12,410 shares of the real estate investment trust’s stock valued at $3,294,000 after purchasing an additional 3,100 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

NYSE AMT traded down $2.73 during trading on Wednesday, reaching $230.27. 21,811 shares of the company’s stock were exchanged, compared to its average volume of 1,845,006. The business has a 50 day moving average price of $246.91 and a 200-day moving average price of $254.55. The stock has a market capitalization of $105.07 billion, a P/E ratio of 40.31, a PEG ratio of 2.34 and a beta of 0.48. The company has a debt-to-equity ratio of 4.12, a current ratio of 0.51 and a quick ratio of 0.51. American Tower Co. has a fifty-two week low of $220.00 and a fifty-two week high of $303.72.

American Tower (NYSE:AMT – Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The real estate investment trust reported $1.56 earnings per share for the quarter, missing analysts’ consensus estimates of $2.41 by ($0.85). The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.61 billion. American Tower had a return on equity of 30.44% and a net margin of 26.72%. American Tower’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period last year, the firm earned $2.46 EPS. On average, analysts forecast that American Tower Co. will post 9.68 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 29th. Stockholders of record on Wednesday, April 13th were given a $1.40 dividend. This is an increase from American Tower’s previous quarterly dividend of $1.39. The ex-dividend date of this dividend was Tuesday, April 12th. This represents a $5.60 annualized dividend and a dividend yield of 2.43%. American Tower’s dividend payout ratio is presently 96.89%.

AMT has been the topic of a number of research reports. Cowen cut their price target on American Tower from $350.00 to $325.00 in a report on Friday, February 25th. Wells Fargo & Company boosted their price target on American Tower from $250.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, March 11th. Morgan Stanley boosted their price target on American Tower from $274.00 to $275.00 and gave the company an “equal weight” rating in a report on Thursday, April 7th. StockNews.com began coverage on American Tower in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Barclays lowered their target price on American Tower from €295.00 ($307.29) to €284.00 ($295.83) in a research report on Friday, March 18th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $288.92.

In other news, CFO Rodney M. Smith sold 25,389 shares of the company’s stock in a transaction that occurred on Thursday, April 21st. The stock was sold at an average price of $270.00, for a total value of $6,855,030.00. Following the transaction, the chief financial officer now owns 52,398 shares of the company’s stock, valued at $14,147,460. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is currently owned by corporate insiders.

American Tower Profile (Get Rating)

American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.

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