Fidelis Capital Partners LLC Purchases 757 Shares of American Tower Co. (NYSE:AMT)

Fidelis Capital Partners LLC raised its position in shares of American Tower Co. (NYSE:AMT) by 29.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,285 shares of the real estate investment trust’s stock after acquiring an additional 757 shares during the period. Fidelis Capital Partners LLC’s holdings in American Tower were worth $709,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Gateway Investment Advisers LLC increased its position in American Tower by 57.7% during the fourth quarter. Gateway Investment Advisers LLC now owns 35,751 shares of the real estate investment trust’s stock valued at $7,718,000 after acquiring an additional 13,074 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of American Tower by 0.5% in the third quarter. Victory Capital Management Inc. now owns 177,288 shares of the real estate investment trust’s stock worth $29,155,000 after purchasing an additional 806 shares during the last quarter. PDS Planning Inc grew its holdings in shares of American Tower by 16.1% in the third quarter. PDS Planning Inc now owns 1,821 shares of the real estate investment trust’s stock worth $299,000 after purchasing an additional 253 shares during the last quarter. FAS Wealth Partners Inc. bought a new position in shares of American Tower in the fourth quarter worth about $2,001,000. Finally, DNB Asset Management AS grew its holdings in shares of American Tower by 23.0% in the fourth quarter. DNB Asset Management AS now owns 159,805 shares of the real estate investment trust’s stock worth $34,499,000 after purchasing an additional 29,848 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In related news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the transaction, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the transaction, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction of $962,584.84. Following the completion of the transaction, the director now directly owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

American Tower Stock Up 0.6 %

Shares of AMT stock traded up $1.10 during mid-day trading on Friday, hitting $172.10. 742,359 shares of the stock traded hands, compared to its average volume of 2,395,539. The stock has a market cap of $80.26 billion, a P/E ratio of 53.77, a P/E/G ratio of 1.36 and a beta of 0.67. The stock’s fifty day moving average is $192.37 and its two-hundred day moving average is $193.43. American Tower Co. has a 52-week low of $154.58 and a 52-week high of $219.10. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing the consensus estimate of $2.10 by ($1.16). The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.34 earnings per share. Equities analysts predict that American Tower Co. will post 9.94 EPS for the current year.

American Tower Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend is Thursday, April 11th. American Tower’s payout ratio is 203.77%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Mizuho assumed coverage on shares of American Tower in a report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price target on the stock. Morgan Stanley upped their price target on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, Barclays upped their price objective on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $217.36.

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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.