Premier Path Wealth Partners LLC Raises Stock Position in American Tower Co. (NYSE:AMT)

Premier Path Wealth Partners LLC lifted its holdings in American Tower Co. (NYSE:AMT) by 8.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,303 shares of the real estate investment trust’s stock after purchasing an additional 268 shares during the period. Premier Path Wealth Partners LLC’s holdings in American Tower were worth $606,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Fortitude Family Office LLC grew its stake 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 purchased a new position in American Tower in the second quarter valued at $27,000. Northwest Investment Counselors LLC acquired a new position in American Tower during the 3rd quarter worth $30,000. Hara Capital LLC purchased a new stake in American Tower during the 3rd quarter worth about $31,000. Finally, Legacy Investment Solutions LLC acquired a new stake in American Tower in the 3rd quarter valued at about $34,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Trading Up 0.2 %

AMT opened at $190.51 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The business’s 50 day moving average is $192.86 and its two-hundred day moving average is $211.29. The firm has a market cap of $89.02 billion, a price-to-earnings ratio of 80.39, a price-to-earnings-growth ratio of 1.16 and a beta of 0.84.

American Tower (NYSE:AMT) last released 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). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter last year, the company earned $2.58 EPS. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. On average, research analysts predict 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 given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.40%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th. JPMorgan Chase & Co. raised their price objective on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Scotiabank dropped their target price on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 30th. BMO Capital Markets decreased their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Finally, Barclays dropped their price objective on American Tower from $251.00 to $215.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $230.67.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the sale, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is owned by company insiders.

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.