American Tower Co. (NYSE:AMT) Shares Acquired by LVW Advisors LLC

LVW Advisors LLC increased its holdings in shares of American Tower Co. (NYSE:AMT) by 76.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,745 shares of the real estate investment trust’s stock after purchasing an additional 1,193 shares during the quarter. LVW Advisors LLC’s holdings in American Tower were worth $504,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Fortitude Family Office LLC increased its position in shares of American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 78 shares in the last quarter. Fairscale Capital LLC acquired a new stake in American Tower in the 2nd quarter valued at $27,000. Northwest Investment Counselors LLC purchased a new position in American Tower in the third quarter valued at about $30,000. Hara Capital LLC acquired a new position in shares of American Tower during the third quarter worth about $31,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of American Tower in the third quarter worth about $34,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AMT. JPMorgan Chase & Co. raised their target price on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Barclays lowered their price target on shares of American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Mizuho cut their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, BMO Capital Markets lowered their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $230.67.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction 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 of the company’s stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.18% of the company’s stock.

American Tower Stock Performance

Shares of AMT opened at $190.51 on Tuesday. 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 Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The business’s fifty day moving average price is $192.86 and its 200 day moving average price is $211.54. The stock has a market capitalization of $89.02 billion, a PE ratio of 80.39, a price-to-earnings-growth ratio of 1.16 and a beta of 0.84.

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

American Tower Announces Dividend

The business also recently declared 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. This represents a $6.48 annualized dividend and a dividend yield of 3.40%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is 273.42%.

About American Tower

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.