Atria Wealth Solutions Inc. Has $4.84 Million Stock Position in American Tower Co. (NYSE:AMT)

Atria Wealth Solutions Inc. lifted its stake in American Tower Co. (NYSE:AMT) by 6.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,374 shares of the real estate investment trust’s stock after acquiring an additional 1,335 shares during the period. Atria Wealth Solutions Inc.’s holdings in American Tower were worth $4,841,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Capital Advisors Ltd. LLC grew its stake in shares of American Tower by 7.2% in the fourth quarter. Capital Advisors Ltd. LLC now owns 1,452 shares of the real estate investment trust’s stock worth $313,000 after acquiring an additional 97 shares during the last quarter. Bfsg LLC acquired a new stake in American Tower during the fourth quarter worth $43,000. Harvest Fund Management Co. Ltd acquired a new stake in American Tower during the fourth quarter worth $254,000. Schnieders Capital Management LLC boosted its stake in American Tower by 111.8% during the fourth quarter. Schnieders Capital Management LLC now owns 4,736 shares of the real estate investment trust’s stock worth $1,022,000 after buying an additional 2,500 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new stake in American Tower during the fourth quarter worth $686,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AMT. Barclays lifted their price target on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. 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 price target on the stock. JPMorgan Chase & Co. decreased their price target on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. Morgan Stanley lifted their price objective on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Finally, BMO Capital Markets cut their price objective on American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.36.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the director now directly owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.

American Tower Stock Performance

American Tower stock opened at $171.63 on Friday. The stock has a 50-day simple moving average of $190.29 and a 200 day simple moving average of $193.97. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $219.10. The stock has a market capitalization of $80.04 billion, a price-to-earnings ratio of 53.97, a P/E/G 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). American Tower had a net margin of 13.31% and a return on equity of 12.80%. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the prior year, the firm earned $2.34 earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, research analysts anticipate that American Tower Co. will post 9.94 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were issued a $1.62 dividend. The ex-dividend date was Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.78%. American Tower’s dividend payout ratio is 203.77%.

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.