South Texas Money Management Ltd. Sells 415 Shares of American Tower Corp (AMT)

South Texas Money Management Ltd. trimmed its holdings in shares of American Tower Corp (NYSE:AMT) by 4.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,180 shares of the real estate investment trust’s stock after selling 415 shares during the period. South Texas Money Management Ltd.’s holdings in American Tower were worth $1,809,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Ruggie Capital Group raised its stake in shares of American Tower by 113.3% during the fourth quarter. Ruggie Capital Group now owns 546 shares of the real estate investment trust’s stock valued at $86,000 after purchasing an additional 290 shares during the period. Coldstream Capital Management Inc. raised its stake in shares of American Tower by 3.0% during the fourth quarter. Coldstream Capital Management Inc. now owns 20,035 shares of the real estate investment trust’s stock valued at $3,169,000 after purchasing an additional 585 shares during the period. Prospect Capital Advisors LLC raised its stake in shares of American Tower by 1.0% during the fourth quarter. Prospect Capital Advisors LLC now owns 67,545 shares of the real estate investment trust’s stock valued at $10,685,000 after purchasing an additional 650 shares during the period. Shelton Capital Management increased its stake in shares of American Tower by 22.4% in the fourth quarter. Shelton Capital Management now owns 5,130 shares of the real estate investment trust’s stock worth $812,000 after buying an additional 940 shares during the last quarter. Finally, Cornerstone Advisors Inc. increased its stake in shares of American Tower by 6.1% in the third quarter. Cornerstone Advisors Inc. now owns 1,349 shares of the real estate investment trust’s stock worth $196,000 after buying an additional 78 shares during the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

AMT stock opened at $192.20 on Wednesday. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.68 and a quick ratio of 0.68. American Tower Corp has a 1-year low of $133.53 and a 1-year high of $198.19. The firm has a market cap of $86.50 billion, a price-to-earnings ratio of 24.06, a price-to-earnings-growth ratio of 1.65 and a beta of 0.68.

American Tower (NYSE:AMT) last released its earnings results on Wednesday, February 27th. The real estate investment trust reported $0.62 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($1.63). American Tower had a net margin of 16.62% and a return on equity of 19.86%. The business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the firm earned $0.51 EPS. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. Equities research analysts predict that American Tower Corp will post 7.53 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Thursday, April 11th will be paid a dividend of $0.90 per share. This is a positive change from American Tower’s previous quarterly dividend of $0.84. The ex-dividend date is Wednesday, April 10th. This represents a $3.60 annualized dividend and a yield of 1.87%. American Tower’s payout ratio is presently 45.06%.

In other American Tower news, EVP Amit Sharma sold 32,500 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $194.35, for a total transaction of $6,316,375.00. Following the completion of the sale, the executive vice president now owns 177,193 shares in the company, valued at $34,437,459.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Thomas A. Bartlett sold 51,203 shares of the business’s stock in a transaction on Friday, January 18th. The shares were sold at an average price of $165.00, for a total transaction of $8,448,495.00. Following the sale, the chief financial officer now owns 165,433 shares of the company’s stock, valued at approximately $27,296,445. The disclosure for this sale can be found here. In the last quarter, insiders have sold 119,753 shares of company stock valued at $21,218,220. 0.87% of the stock is owned by insiders.

AMT has been the subject of a number of research analyst reports. Morgan Stanley lifted their price target on shares of American Tower from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Monday, March 11th. Oppenheimer restated a “market perform” rating and issued a $173.00 price target on shares of American Tower in a research note on Thursday, February 28th. They noted that the move was a valuation call. Citigroup lifted their price target on shares of American Tower from $176.00 to $186.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Royal Bank of Canada lifted their price target on shares of American Tower from $173.00 to $195.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. Finally, Bank of America lifted their price target on shares of American Tower from $172.00 to $208.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Twelve investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $177.25.

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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 170,000 communications sites.

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

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