American Tower Co. (NYSE:AMT) Shares Bought by HB Wealth Management LLC

HB Wealth Management LLC lifted its holdings in shares of American Tower Co. (NYSE:AMT) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,609 shares of the real estate investment trust’s stock after buying an additional 1,304 shares during the quarter. HB Wealth Management LLC’s holdings in American Tower were worth $5,981,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AMT. CX Institutional boosted its stake in shares of American Tower by 2.9% during the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock worth $450,000 after acquiring an additional 54 shares in the last quarter. Palumbo Wealth Management LLC raised its holdings in American Tower by 1.6% during the third quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock worth $864,000 after purchasing an additional 57 shares during the last quarter. Rehmann Capital Advisory Group boosted its position in American Tower by 4.2% during the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock worth $332,000 after purchasing an additional 58 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in American Tower by 5.3% in the third quarter. Sivia Capital Partners LLC now owns 1,179 shares of the real estate investment trust’s stock valued at $274,000 after purchasing an additional 59 shares during the last quarter. Finally, Fullcircle Wealth LLC increased its position in shares of American Tower by 1.2% in the third quarter. Fullcircle Wealth LLC now owns 5,053 shares of the real estate investment trust’s stock valued at $1,123,000 after buying an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 0.2 %

Shares of AMT stock opened at $190.51 on Friday. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The firm’s 50-day simple moving average is $192.86 and its 200-day simple moving average is $211.29. The firm has a market cap of $89.02 billion, a P/E ratio of 80.39, a PEG ratio of 1.16 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

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

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Insiders Place Their Bets

In other news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the sale, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on AMT. Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. Scotiabank lowered their price target on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 30th. Barclays cut their price objective on American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. BMO Capital Markets lowered their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group cut their price target on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Four 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $230.67.

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 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.