American Tower Co. (NYSE:AMT) Shares Acquired by S.E.E.D. Planning Group LLC

S.E.E.D. Planning Group LLC lifted its holdings in American Tower Co. (NYSE:AMT) by 14.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,644 shares of the real estate investment trust’s stock after acquiring an additional 3,460 shares during the quarter. American Tower accounts for 1.7% of S.E.E.D. Planning Group LLC’s holdings, making the stock its 25th biggest position. S.E.E.D. Planning Group LLC’s holdings in American Tower were worth $5,070,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Thoroughbred Financial Services LLC acquired a new position in shares of American Tower in the 2nd quarter valued at about $407,000. Massachusetts Financial Services Co. MA lifted its holdings in American Tower by 16.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,310,893 shares of the real estate investment trust’s stock valued at $643,571,000 after acquiring an additional 464,429 shares during the period. One Capital Management LLC purchased a new stake in American Tower in the 2nd quarter worth approximately $1,763,000. Conscious Wealth Investments LLC grew its stake in shares of American Tower by 1.8% during the 2nd quarter. Conscious Wealth Investments LLC now owns 13,799 shares of the real estate investment trust’s stock worth $2,891,000 after purchasing an additional 243 shares during the period. Finally, Clearstead Trust LLC increased its holdings in shares of American Tower by 257.8% during the 2nd quarter. Clearstead Trust LLC now owns 13,312 shares of the real estate investment trust’s stock valued at $2,588,000 after purchasing an additional 9,591 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 1.2 %

Shares of AMT opened at $178.99 on Wednesday. The stock has a 50 day moving average price of $193.58 and a 200 day moving average price of $211.68. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market capitalization of $83.64 billion, a price-to-earnings ratio of 75.52, a PEG ratio of 1.31 and a beta of 0.84.

American Tower (NYSE:AMT) last released its earnings results 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). The business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.58 EPS. Equities research analysts forecast that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is 273.42%.

Wall Street Analyst Weigh In

AMT has been the topic of several analyst reports. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Mizuho dropped their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Scotiabank reduced their price target on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 30th. BMO Capital Markets dropped their price objective 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, Wells Fargo & Company downgraded American Tower from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and an average target price of $230.67.

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.