Waterloo Capital L.P. Buys 431 Shares of American Tower Co. (NYSE:AMT)

Waterloo Capital L.P. grew its stake in shares of American Tower Co. (NYSE:AMTFree Report) by 8.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,613 shares of the real estate investment trust’s stock after buying an additional 431 shares during the period. Waterloo Capital L.P.’s holdings in American Tower were worth $1,212,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Gold Investment Management Ltd. bought a new position in shares of American Tower in the fourth quarter worth approximately $28,000. Thompson Investment Management Inc. bought a new position in shares of American Tower in the fourth quarter worth approximately $29,000. Private Wealth Management Group LLC bought a new position in shares of American Tower in the fourth quarter worth approximately $31,000. Brown Shipley& Co Ltd bought a new position in shares of American Tower in the third quarter worth approximately $35,000. Finally, Valley National Advisers Inc. increased its position in shares of American Tower by 200.0% in the fourth quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 118 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other American Tower news, Director Robert D. Hormats sold 700 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total value of $128,450.00. Following the completion of the transaction, the director now owns 7,332 shares in the company, valued at $1,345,422. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other American Tower news, Director Robert D. Hormats sold 700 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total value of $128,450.00. Following the completion of the transaction, the director now owns 7,332 shares in the company, valued at $1,345,422. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Sanjay Goel sold 3,504 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total value of $702,061.44. Following the completion of the transaction, the executive vice president now owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

American Tower Trading Down 2.6 %

Shares of NYSE:AMT traded down $5.23 during trading on Friday, reaching $194.26. 2,143,410 shares of the company traded hands, compared to its average volume of 2,286,427. The firm has a market capitalization of $90.71 billion, a price-to-earnings ratio of 43.95, a P/E/G ratio of 1.43 and a beta of 0.79. American Tower Co. has a 52-week low of $154.58 and a 52-week high of $219.10. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.39. The business’s fifty day moving average is $184.81 and its 200-day moving average is $196.27.

American Tower (NYSE:AMTGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). American Tower had a return on equity of 18.45% and a net margin of 18.42%. The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same period in the previous year, the business earned $2.54 EPS. The business’s revenue was up 2.4% compared to the same quarter last year. As a group, analysts forecast that American Tower Co. will post 9.98 EPS for the current year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Friday, June 14th. American Tower’s payout ratio is 146.61%.

Analysts Set New Price Targets

Several research firms recently weighed in on AMT. BMO Capital Markets decreased their price objective on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Barclays reduced their price target on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Mizuho began coverage on shares of American Tower in a research report on Monday, April 8th. They set a “neutral” rating and a $205.00 price target on the stock. Morgan Stanley increased their price target on shares of American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Finally, StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $220.91.

Read Our Latest Stock Report on AMT

About American Tower

(Free Report)

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.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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