Calamos Wealth Management LLC reduced its position in shares of American Tower Corp (NYSE:AMT) by 21.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,924 shares of the real estate investment trust’s stock after selling 1,042 shares during the period. Calamos Wealth Management LLC’s holdings in American Tower were worth $902,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cottage Street Advisors LLC bought a new position in shares of American Tower during the third quarter valued at about $754,000. HM Payson & Co. bought a new stake in American Tower in the second quarter worth about $634,000. BlackRock Inc. raised its position in American Tower by 4.0% in the second quarter. BlackRock Inc. now owns 31,549,686 shares of the real estate investment trust’s stock worth $6,450,332,000 after acquiring an additional 1,213,664 shares during the period. Pictet Asset Management Ltd. raised its position in American Tower by 3.1% in the third quarter. Pictet Asset Management Ltd. now owns 222,581 shares of the real estate investment trust’s stock worth $49,219,000 after acquiring an additional 6,700 shares during the period. Finally, Evoke Wealth LLC bought a new stake in American Tower in the third quarter worth about $198,000. 91.63% of the stock is currently owned by institutional investors.
AMT has been the topic of several research reports. ValuEngine lowered shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Goldman Sachs Group raised shares of American Tower from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $204.00 to $270.00 in a research report on Monday. KeyCorp lifted their price objective on shares of American Tower from $242.00 to $254.00 and gave the stock an “overweight” rating in a research report on Friday, January 10th. Cowen lifted their price objective on shares of American Tower from $238.00 to $260.00 and gave the stock an “in-line” rating in a research report on Friday, November 1st. Finally, Morgan Stanley reaffirmed a “hold” rating and issued a $218.00 price objective (up previously from $216.00) on shares of American Tower in a research report on Friday, November 22nd. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $224.36.
AMT opened at $235.38 on Thursday. The company has a market capitalization of $103.63 billion, a price-to-earnings ratio of 29.46, a PEG ratio of 1.51 and a beta of 0.41. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 4.40. The firm has a 50-day moving average price of $221.85 and a 200-day moving average price of $218.83. American Tower Corp has a twelve month low of $162.83 and a twelve month high of $242.00.
American Tower (NYSE:AMT) last posted its earnings results on Thursday, October 31st. The real estate investment trust reported $1.12 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.17. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.88 billion. American Tower had a net margin of 20.58% and a return on equity of 27.12%. The company’s revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the company earned $1.85 earnings per share. On average, sell-side analysts expect that American Tower Corp will post 7.64 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Friday, December 27th were paid a $1.01 dividend. This is an increase from American Tower’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $4.04 annualized dividend and a dividend yield of 1.72%. American Tower’s dividend payout ratio (DPR) is presently 50.56%.
In other news, EVP Olivier Puech sold 313 shares of American Tower stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $228.56, for a total value of $71,539.28. Following the completion of the transaction, the executive vice president now owns 18,723 shares in the company, valued at $4,279,328.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steven O. Vondran sold 1,261 shares of American Tower stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $229.68, for a total transaction of $289,626.48. Following the completion of the transaction, the executive vice president now owns 28,705 shares of the company’s stock, valued at approximately $6,592,964.40. The disclosure for this sale can be found here. Insiders sold 5,574 shares of company stock valued at $1,250,626 in the last quarter. Corporate insiders own 0.75% of the company’s stock.
American Tower 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 171,000 communications sites.
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