Sivia Capital Partners LLC Purchases 164 Shares of American Tower Co. (NYSE:AMT)

Sivia Capital Partners LLC boosted its position in American Tower Co. (NYSE:AMT) by 16.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,155 shares of the real estate investment trust’s stock after acquiring an additional 164 shares during the period. Sivia Capital Partners LLC’s holdings in American Tower were worth $228,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Ancora Advisors LLC boosted its holdings in American Tower by 18.6% during the third quarter. Ancora Advisors LLC now owns 2,298 shares of the real estate investment trust’s stock worth $378,000 after buying an additional 361 shares during the last quarter. Gotham Asset Management LLC boosted its holdings in American Tower by 12.7% during the third quarter. Gotham Asset Management LLC now owns 22,368 shares of the real estate investment trust’s stock worth $3,678,000 after buying an additional 2,524 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in American Tower by 1,760.5% during the third quarter. Lazard Asset Management LLC now owns 98,176 shares of the real estate investment trust’s stock worth $16,144,000 after buying an additional 92,899 shares during the last quarter. AQR Capital Management LLC boosted its holdings in American Tower by 3.3% during the third quarter. AQR Capital Management LLC now owns 158,725 shares of the real estate investment trust’s stock worth $26,102,000 after buying an additional 5,045 shares during the last quarter. Finally, Truist Financial Corp boosted its holdings in American Tower by 20.0% during the third quarter. Truist Financial Corp now owns 212,844 shares of the real estate investment trust’s stock worth $35,002,000 after buying an additional 35,444 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of research analyst reports. Raymond James raised American Tower from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $226.00 to $248.00 in a research report on Wednesday, May 1st. BMO Capital Markets dropped their price target on American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. The Goldman Sachs Group initiated coverage on American Tower in a research report on Monday. They set a “buy” rating and a $230.00 price target on the stock. Scotiabank dropped their price target on American Tower from $243.00 to $223.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, May 1st. Finally, Mizuho initiated coverage on American Tower in a research report on Monday, April 8th. They set a “neutral” rating and a $205.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $221.67.

Insider Transactions at American Tower

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

American Tower Stock Up 0.6 %

Shares of NYSE:AMT traded up $1.19 during trading on Wednesday, hitting $193.46. 533,312 shares of the company were exchanged, compared to its average volume of 2,397,929. The stock has a market cap of $90.34 billion, a price-to-earnings ratio of 44.03, a P/E/G ratio of 1.39 and a beta of 0.81. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $219.10. The firm has a fifty day moving average price of $189.02 and a two-hundred day moving average price of $194.69. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.39.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.47). The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.79 billion. American Tower had a return on equity of 18.45% and a net margin of 18.42%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the firm earned $2.54 EPS. As a group, research analysts anticipate that American Tower Co. will post 10.03 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 14th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $6.48 annualized dividend and a dividend yield of 3.35%. American Tower’s dividend payout ratio is currently 146.61%.

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.