KFG Wealth Management LLC Increases Holdings in American Tower Co. (NYSE:AMT)

KFG Wealth Management LLC raised its stake in American Tower Co. (NYSE:AMT) by 20.8% during the 4th quarter, HoldingsChannel reports. The firm owned 1,603 shares of the real estate investment trust’s stock after acquiring an additional 276 shares during the quarter. KFG Wealth Management LLC’s holdings in American Tower were worth $294,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC raised its holdings in shares of American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 78 shares during the period. Northwest Investment Counselors LLC purchased a new stake in shares of American Tower during the third quarter valued at approximately $30,000. Hara Capital LLC acquired a new position in shares of American Tower during the third quarter worth $31,000. Legacy Investment Solutions LLC purchased a new position in shares of American Tower in the third quarter valued at $34,000. Finally, Activest Wealth Management grew its holdings in American Tower by 431.0% during the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 125 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on AMT shares. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Barclays reduced their price target on American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Scotiabank cut their target price on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research report on Thursday. Wells Fargo & Company decreased their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, BMO Capital Markets cut their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $226.42.

American Tower Stock Performance

Shares of NYSE AMT opened at $185.17 on Monday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm’s 50-day moving average price is $192.08 and its two-hundred day moving average price is $211.14. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The stock has a market capitalization of $86.53 billion, a P/E ratio of 78.13, a P/E/G ratio of 1.24 and a beta of 0.84.

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

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.50%. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is currently owned by insiders.

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.