FAS Wealth Partners Inc. Invests $2 Million 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, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,271 shares of the real estate investment trust’s stock, valued at approximately $2,001,000.

Other hedge funds have also recently modified their holdings of the company. McClarren Financial Advisors Inc. purchased a new position in American Tower during the third quarter worth approximately $27,000. Emerald Advisers LLC purchased a new position in American Tower during the third quarter worth approximately $29,000. Thompson Investment Management Inc. purchased a new position in American Tower during the fourth quarter worth approximately $29,000. Pinnacle Holdings LLC purchased a new position in American Tower during the first quarter worth approximately $29,000. Finally, Eagle Bay Advisors LLC purchased a new position in American Tower during the second quarter worth approximately $30,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on AMT. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. BMO Capital Markets reduced their target price on American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. HSBC assumed coverage on American Tower in a report on Thursday, December 14th. They set a “buy” rating and a $245.00 target price for the company. JPMorgan Chase & Co. reduced their target price on American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Finally, Barclays increased their target price on American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Two 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 has a consensus rating of “Moderate Buy” and an average price target of $215.90.

Get Our Latest Research Report on American Tower

American Tower Trading Down 0.4 %

NYSE:AMT opened at $192.18 on Wednesday. The firm has a market cap of $89.62 billion, a PE ratio of 60.43, a price-to-earnings-growth ratio of 1.34 and a beta of 0.67. The stock has a fifty day moving average price of $195.73 and a 200 day moving average price of $192.53. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $219.10. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.29.

American Tower (NYSE:AMTGet Free Report) last released 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 during the quarter, compared to analysts’ expectations of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the business posted $2.34 earnings per share. Sell-side analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Thursday, April 11th. American Tower’s dividend payout ratio (DPR) is presently 213.84%.

Insider Activity at American Tower

In related news, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $3,532,080.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $3,532,080.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Rodney M. Smith sold 11,510 shares of the business’s 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 completion of the transaction, the chief financial officer now owns 62,969 shares in the company, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

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.

Further Reading

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

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