Cwm LLC Grows Stock Position in American Tower Co. (NYSE:AMT)

Cwm LLC increased its holdings in American Tower Co. (NYSE:AMT) by 19.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,838 shares of the real estate investment trust’s stock after buying an additional 1,940 shares during the quarter. Cwm LLC’s holdings in American Tower were worth $2,556,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in AMT. Alera Investment Advisors LLC boosted its stake in shares of American Tower by 1.3% during the 4th quarter. Alera Investment Advisors LLC now owns 4,105 shares of the real estate investment trust’s stock worth $886,000 after acquiring an additional 51 shares during the last quarter. First Business Financial Services Inc. raised its holdings in American Tower by 1.3% in the 3rd quarter. First Business Financial Services Inc. now owns 4,290 shares of the real estate investment trust’s stock worth $705,000 after purchasing an additional 55 shares during the period. Northcape Wealth Management LLC lifted its position in American Tower by 0.5% during the third quarter. Northcape Wealth Management LLC now owns 10,521 shares of the real estate investment trust’s stock valued at $1,730,000 after purchasing an additional 56 shares in the last quarter. Augustine Asset Management Inc. grew its holdings in American Tower by 0.8% during the fourth quarter. Augustine Asset Management Inc. now owns 7,092 shares of the real estate investment trust’s stock valued at $1,531,000 after purchasing an additional 56 shares during the period. Finally, Teamwork Financial Advisors LLC increased its position in American Tower by 2.8% in the third quarter. Teamwork Financial Advisors LLC now owns 2,139 shares of the real estate investment trust’s stock worth $352,000 after buying an additional 59 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the sale, the chief financial officer now owns 62,969 shares of the company’s stock, valued at $12,953,352.99. 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 equities research analysts have commented on the stock. BMO Capital Markets decreased their target price on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Mizuho began coverage on shares of American Tower in a research note on Monday, April 8th. They set a “neutral” rating and a $205.00 target price on the stock. Barclays upped their target price on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Morgan Stanley boosted their price objective on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Finally, StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average target price of $217.36.

American Tower Price Performance

AMT stock opened at $172.96 on Friday. The company has a fifty day simple moving average of $190.60 and a two-hundred day simple moving average of $193.90. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $219.10. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. The firm has a market capitalization of $80.66 billion, a P/E ratio of 54.39, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing the consensus estimate of $2.10 by ($1.16). American Tower had a return on equity of 12.80% and a net margin of 13.31%. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.74 billion. The company’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.34 EPS. Analysts anticipate that American Tower Co. will post 9.94 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend is Thursday, April 11th. American Tower’s dividend payout ratio is currently 203.77%.

American Tower 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.