Simplicity Solutions LLC Boosts Position in American Tower Co. (NYSE:AMT)

Simplicity Solutions LLC increased its holdings in shares of American Tower Co. (NYSE:AMT) by 23.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,533 shares of the real estate investment trust’s stock after purchasing an additional 1,632 shares during the quarter. Simplicity Solutions LLC’s holdings in American Tower were worth $1,842,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Pinnacle Holdings LLC acquired a new position in shares of American Tower in the first quarter valued at approximately $29,000. Eagle Bay Advisors LLC purchased a new stake in American Tower during the second quarter worth $30,000. VitalStone Financial LLC purchased a new stake in American Tower during the first quarter worth $38,000. Thompson Investment Management Inc. purchased a new stake in American Tower during the fourth quarter worth $29,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in American Tower during the third quarter worth $27,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their price objective on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Barclays upped their target price on American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. BMO Capital Markets dropped their target price on American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. Mizuho began coverage on American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price for the company. Finally, StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $214.91.

Insider Activity at American Tower

In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total transaction of $962,584.84. Following the transaction, the director now owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the sale, the chief financial officer now directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the transaction, the director now owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.

American Tower Price Performance

AMT stock opened at $179.20 on Monday. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a 1 year low of $154.58 and a 1 year high of $219.10. The firm has a market cap of $83.57 billion, a P/E ratio of 56.35, a price-to-earnings-growth ratio of 1.24 and a beta of 0.67. The stock has a 50-day simple moving average of $193.88 and a 200-day simple moving average of $193.57.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.34 EPS. On average, equities analysts predict that American Tower Co. will post 10.05 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend is Thursday, April 11th. American Tower’s dividend payout ratio is currently 203.77%.

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.