Sivia Capital Partners LLC Purchases New Shares in American Tower Co. (NYSE:AMT)

Sivia Capital Partners LLC purchased a new stake in shares of American Tower Co. (NYSE:AMT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 991 shares of the real estate investment trust’s stock, valued at approximately $214,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMT. Gold Investment Management Ltd. acquired a new stake in American Tower during the 4th quarter valued at $28,000. Thompson Investment Management Inc. acquired a new stake in American Tower during the 4th quarter valued at $29,000. Private Wealth Management Group LLC acquired a new stake in American Tower during the 4th quarter valued at $31,000. Brown Shipley& Co Ltd acquired a new stake in American Tower during the 3rd quarter valued at $35,000. Finally, Valley National Advisers Inc. boosted its position in American Tower by 200.0% in the 4th quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 118 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on AMT. Raymond James upgraded American Tower from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $226.00 to $248.00 in a research report on Wednesday, May 1st. BMO Capital Markets decreased their price objective 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. Barclays decreased their price objective on 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 American Tower in a research report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price objective on the stock. Finally, JPMorgan Chase & Co. decreased 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. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $220.91.

Insiders Place Their Bets

In other American Tower news, EVP Sanjay Goel sold 3,504 shares of American Tower stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the transaction, the executive vice president now directly owns 28,413 shares in the company, valued at $5,692,828.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Sanjay Goel sold 3,504 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total value of $702,061.44. Following the sale, the executive vice president now directly owns 28,413 shares in the company, valued at $5,692,828.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert D. Hormats sold 700 shares of the business’s stock in a transaction dated 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 in the company, valued at $1,345,422. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

American Tower Stock Performance

AMT stock opened at $192.28 on Tuesday. The business’s 50-day moving average price is $185.24 and its two-hundred day moving average price is $195.89. 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 firm has a market cap of $89.79 billion, a PE ratio of 43.50, a P/E/G ratio of 1.40 and a beta of 0.79. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10.

American Tower (NYSE:AMT) last posted its 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 business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.79 billion. American Tower had a return on equity of 18.45% and a net margin of 18.42%. The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.54 earnings per share. As a group, research analysts forecast that American Tower Co. will post 10.03 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 14th will be issued a dividend of $1.62 per share. The ex-dividend date is Friday, June 14th. This represents a $6.48 annualized dividend and a yield of 3.37%. American Tower’s dividend payout ratio is presently 146.61%.

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.