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:AMTGet 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:AMTGet 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.

Featured Stories

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. (NYSE:AMTGet Rating).

Institutional Ownership by Quarter for American Tower (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.