Hurley Capital LLC Takes $58,000 Position in American Tower Co. (NYSE:AMT)

Hurley Capital LLC purchased a new position in American Tower Co. (NYSE:AMT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 311 shares of the real estate investment trust’s stock, valued at approximately $58,000.

Other large investors also recently added to or reduced their stakes in the company. Quarry LP bought a new position in shares of American Tower during the 3rd quarter valued at approximately $110,000. Quantinno Capital Management LP boosted its stake in American Tower by 29.8% during the third quarter. Quantinno Capital Management LP now owns 22,055 shares of the real estate investment trust’s stock worth $5,129,000 after buying an additional 5,064 shares during the period. Texas Capital Bank Wealth Management Services Inc bought a new position in American Tower during the third quarter valued at $245,000. Worldquant Millennium Advisors LLC purchased a new stake in shares of American Tower in the third quarter valued at $1,287,000. Finally, Kovitz Investment Group Partners LLC lifted its holdings in shares of American Tower by 6.0% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 85,816 shares of the real estate investment trust’s stock worth $19,958,000 after acquiring an additional 4,862 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Insider Activity at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is owned by corporate insiders.

American Tower Trading Down 3.4 %

NYSE AMT opened at $220.43 on Friday. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market capitalization of $103.04 billion, a price-to-earnings ratio of 93.01, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. The company’s 50-day simple moving average is $202.22 and its two-hundred day simple moving average is $203.95.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.29 earnings per share. Equities analysts forecast that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be paid a dividend of $1.70 per share. This is a boost from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Friday, April 11th. American Tower’s dividend payout ratio is 141.37%.

Analyst Ratings Changes

A number of research firms recently weighed in on AMT. Barclays increased their price objective on shares of American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. JMP Securities initiated coverage on American Tower in a report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target on the stock. Wells Fargo & Company upgraded American Tower from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $210.00 to $230.00 in a report on Monday, March 17th. Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Finally, BMO Capital Markets boosted their target price on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $232.07.

About American Tower

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.