FAS Wealth Partners Inc. Makes New Investment in American Tower Co. (NYSE:AMT)

FAS Wealth Partners Inc. bought a new position in American Tower Co. (NYSE:AMTFree Report) during the fourth quarter, Holdings Channel reports. The institutional investor bought 9,271 shares of the real estate investment trust’s stock, valued at approximately $2,001,000.

Other large investors have also recently bought and sold shares of the company. Personal Capital Advisors Corp raised its holdings in shares of American Tower by 1.7% during the first quarter. Personal Capital Advisors Corp now owns 2,510 shares of the real estate investment trust’s stock valued at $631,000 after buying an additional 43 shares during the last quarter. Lumature Wealth Partners LLC raised its holdings in shares of American Tower by 40.3% during the first quarter. Lumature Wealth Partners LLC now owns 174 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 50 shares during the last quarter. McIlrath & Eck LLC raised its holdings in shares of American Tower by 18.5% during the fourth quarter. McIlrath & Eck LLC now owns 333 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 52 shares during the last quarter. Golden State Equity Partners raised its holdings in shares of American Tower by 7.0% during the first quarter. Golden State Equity Partners now owns 806 shares of the real estate investment trust’s stock valued at $202,000 after buying an additional 53 shares during the last quarter. Finally, GeoWealth Management LLC raised its holdings in shares of American Tower by 17.8% during the first quarter. GeoWealth Management LLC now owns 358 shares of the real estate investment trust’s stock valued at $73,000 after buying an additional 54 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Trading Down 0.4 %

NYSE AMT opened at $192.18 on Wednesday. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $219.10. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market cap of $89.62 billion, a price-to-earnings ratio of 60.43, a PEG ratio of 1.34 and a beta of 0.67. The firm’s 50 day moving average price is $195.73 and its two-hundred day moving average price is $192.53.

American Tower (NYSE:AMTGet Free Report) last issued its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the business earned $2.34 EPS. Equities analysts anticipate that American Tower Co. will post 10.08 EPS for the current year.

American Tower Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Thursday, April 11th. American Tower’s dividend payout ratio (DPR) is currently 213.84%.

Insider Buying and Selling at American Tower

In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction of $962,584.84. Following the completion of the sale, the director now owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the sale, the chief financial officer now owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction of $962,584.84. Following the completion of the sale, the director now directly owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AMT. HSBC started coverage on American Tower in a report on Thursday, December 14th. They set a “buy” rating and a $245.00 price target on the stock. JPMorgan Chase & Co. dropped their target price on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. BMO Capital Markets dropped their target price on American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Finally, Barclays lifted their price target on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.90.

Check Out Our Latest Report on American Tower

American Tower Profile

(Free Report)

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.

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

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