552 Shares in American Tower Co. (NYSE:AMT) Purchased by Promus Capital LLC

Promus Capital LLC acquired a new position in American Tower Co. (NYSE:AMT) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 552 shares of the real estate investment trust’s stock, valued at approximately $101,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Dana Investment Advisors Inc. lifted its stake in American Tower by 5.1% in the fourth quarter. Dana Investment Advisors Inc. now owns 11,698 shares of the real estate investment trust’s stock worth $2,146,000 after acquiring an additional 563 shares during the period. Vision Financial Markets LLC purchased a new stake in American Tower in the fourth quarter worth about $220,000. Arizona State Retirement System lifted its stake in American Tower by 0.7% in the fourth quarter. Arizona State Retirement System now owns 134,769 shares of the real estate investment trust’s stock worth $24,718,000 after acquiring an additional 876 shares during the period. Verdence Capital Advisors LLC lifted its position in shares of American Tower by 6.5% during the fourth quarter. Verdence Capital Advisors LLC now owns 2,005 shares of the real estate investment trust’s stock valued at $368,000 after buying an additional 122 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of American Tower during the fourth quarter valued at about $235,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Barclays decreased their price target on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. The Goldman Sachs Group decreased their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Scotiabank cut their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a report on Thursday, January 23rd. Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Finally, Morgan Stanley cut their price objective on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $225.21.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.18% of the company’s stock.

American Tower Price Performance

Shares of NYSE:AMT opened at $209.01 on Thursday. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company’s 50 day moving average is $188.53 and its 200 day moving average is $206.45. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The company has a market cap of $97.67 billion, a PE ratio of 88.19, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85.

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 business had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company earned $2.29 EPS. On average, sell-side analysts forecast that American Tower Co. will post 10.14 EPS for the current year.

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