Financial Management Professionals Inc. Buys 159 Shares of American Tower Co. (NYSE:AMT)

Financial Management Professionals Inc. raised its position in American Tower Co. (NYSE:AMT) by 9.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,819 shares of the real estate investment trust’s stock after acquiring an additional 159 shares during the quarter. Financial Management Professionals Inc.’s holdings in American Tower were worth $334,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Balentine LLC purchased a new stake in American Tower in the third quarter worth $586,000. Nordea Investment Management AB boosted its holdings in American Tower by 28.5% in the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after acquiring an additional 314,769 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in American Tower during the 3rd quarter valued at about $1,156,000. Czech National Bank grew its holdings in shares of American Tower by 6.9% during the third quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock valued at $22,128,000 after buying an additional 6,163 shares during the last quarter. Finally, Brookstone Capital Management boosted its stake in American Tower by 29.0% during the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock valued at $1,629,000 after purchasing an additional 1,995 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on AMT shares. Scotiabank reduced their price target on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their target price on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. BMO Capital Markets cut their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. The Goldman Sachs Group reduced their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $230.67.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction 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 directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.18% of the company’s stock.

American Tower Trading Up 0.2 %

AMT stock opened at $190.51 on Friday. The stock has a market capitalization of $89.02 billion, a price-to-earnings ratio of 80.39, a price-to-earnings-growth ratio of 1.16 and a beta of 0.84. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The firm’s fifty day simple moving average is $192.86 and its two-hundred day simple moving average is $211.29. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.56). The firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.58 earnings per share. As a group, analysts anticipate that American Tower Co. will post 10.15 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be given a $1.62 dividend. The ex-dividend date is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.40%. American Tower’s payout ratio is 273.42%.

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.