Tributary Capital Management LLC reduced its holdings in shares of American Tower Corp (NYSE:AMT) by 3.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,625 shares of the real estate investment trust’s stock after selling 175 shares during the quarter. Tributary Capital Management LLC’s holdings in American Tower were worth $911,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in AMT. Canton Hathaway LLC purchased a new position in shares of American Tower during the 1st quarter worth $26,000. Spectrum Management Group Inc. acquired a new stake in shares of American Tower during the 1st quarter worth about $29,000. Quantamental Technologies LLC acquired a new stake in shares of American Tower during the 4th quarter worth about $25,000. Lavaca Capital LLC acquired a new stake in shares of American Tower during the 4th quarter worth about $27,000. Finally, WESPAC Advisors SoCal LLC acquired a new stake in shares of American Tower during the 4th quarter worth about $27,000. Institutional investors own 94.88% of the company’s stock.
Several equities analysts have weighed in on AMT shares. KeyCorp lifted their target price on American Tower from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, February 12th. Oppenheimer reaffirmed a “market perform” rating and issued a $173.00 target price on shares of American Tower in a research report on Thursday, February 28th. They noted that the move was a valuation call. Wells Fargo & Co lifted their target price on American Tower from $176.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, February 28th. Macquarie reaffirmed a “buy” rating and issued a $210.00 target price on shares of American Tower in a research report on Thursday, February 28th. Finally, CIBC reaffirmed a “market perform” rating on shares of American Tower in a research report on Thursday, February 28th. Twelve investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $180.44.
American Tower (NYSE:AMT) last posted its earnings results on Friday, May 3rd. The real estate investment trust reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.04. American Tower had a return on equity of 22.61% and a net margin of 17.95%. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the previous year, the business earned $0.63 earnings per share. The firm’s revenue was up 4.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that American Tower Corp will post 7.51 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Thursday, April 11th were paid a $0.90 dividend. The ex-dividend date was Wednesday, April 10th. This represents a $3.60 dividend on an annualized basis and a yield of 1.84%. This is a boost from American Tower’s previous quarterly dividend of $0.84. American Tower’s payout ratio is currently 45.06%.
In other news, EVP William H. Hess sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $186.97, for a total value of $3,739,400.00. Following the transaction, the executive vice president now owns 92,231 shares of the company’s stock, valued at $17,244,430.07. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Olivier Puech sold 1,169 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $188.18, for a total value of $219,982.42. Following the completion of the transaction, the executive vice president now directly owns 19,147 shares in the company, valued at approximately $3,603,082.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 171,718 shares of company stock valued at $33,175,251. 0.75% of the stock is owned by company insiders.
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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 approximately 171,000 communications sites.
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