Prevail Innovative Wealth Advisors LLC Acquires 11,088 Shares of American Tower Co. (NYSE:AMT)

Prevail Innovative Wealth Advisors LLC boosted its holdings in American Tower Co. (NYSE:AMT) by 102.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,947 shares of the real estate investment trust’s stock after acquiring an additional 11,088 shares during the quarter. American Tower accounts for about 1.5% of Prevail Innovative Wealth Advisors LLC’s investment portfolio, making the stock its 12th biggest position. Prevail Innovative Wealth Advisors LLC’s holdings in American Tower were worth $4,266,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Allstate Corp boosted its stake in shares of American Tower by 3.1% in the 4th quarter. Allstate Corp now owns 1,750 shares of the real estate investment trust’s stock valued at $378,000 after purchasing an additional 53 shares in the last quarter. NBT Bank N A NY boosted its position in American Tower by 3.3% in the second quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock valued at $329,000 after buying an additional 54 shares in the last quarter. Glassman Wealth Services grew its stake in American Tower by 4.7% during the fourth quarter. Glassman Wealth Services now owns 1,242 shares of the real estate investment trust’s stock worth $268,000 after buying an additional 56 shares during the last quarter. CFO4Life Group LLC increased its holdings in shares of American Tower by 5.4% during the first quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock worth $221,000 after buying an additional 57 shares in the last quarter. Finally, Main Street Financial Solutions LLC raised its stake in shares of American Tower by 1.4% in the fourth quarter. Main Street Financial Solutions LLC now owns 4,265 shares of the real estate investment trust’s stock valued at $921,000 after acquiring an additional 58 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Activity

In related news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the transaction, the executive vice president now owns 51,746 shares of the company’s stock, valued at approximately $12,070,789.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other American Tower news, EVP Olivier Puech sold 10,005 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total value of $2,333,866.35. Following the sale, the executive vice president now directly owns 51,746 shares in the company, valued at $12,070,789.42. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the transaction, the chief executive officer now directly owns 61,843 shares in the company, valued at $14,223,890. The disclosure for this sale can be found here. Insiders sold a total of 33,723 shares of company stock valued at $7,795,397 in the last ninety days. 0.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AMT. Mizuho increased their price target on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research report on Thursday. JPMorgan Chase & Co. increased their target price on American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Barclays lowered their target price on American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Deutsche Bank Aktiengesellschaft upped their price target on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Finally, StockNews.com upgraded shares of American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $232.29.

American Tower Trading Down 0.8 %

Shares of NYSE AMT opened at $237.14 on Friday. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $243.56. The firm has a market capitalization of $110.76 billion, a P/E ratio of 53.65, a P/E/G ratio of 1.59 and a beta of 0.83. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. The company’s 50 day simple moving average is $220.19 and its 200 day simple moving average is $200.73.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period last year, the company earned $2.46 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, analysts predict that American Tower Co. will post 10.18 EPS for the current year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 2.73%. American Tower’s payout ratio is currently 146.61%.

American Tower Company 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.