American Tower Co. (NYSE:AMT) Shares Bought by RFG Advisory LLC

RFG Advisory LLC raised its position in shares of American Tower Co. (NYSE:AMT) by 13.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,442 shares of the real estate investment trust’s stock after acquiring an additional 1,002 shares during the quarter. RFG Advisory LLC’s holdings in American Tower were worth $1,548,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fortitude Family Office LLC raised its holdings in American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 78 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of American Tower in the third quarter valued at approximately $30,000. Hara Capital LLC acquired a new stake in shares of American Tower in the third quarter valued at approximately $31,000. Legacy Investment Solutions LLC purchased a new position in American Tower during the third quarter worth approximately $34,000. Finally, Activest Wealth Management boosted its stake in American Tower by 431.0% during the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AMT shares. The Goldman Sachs Group decreased their price objective on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Wells Fargo & Company reduced their price objective on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Barclays lowered their target price on American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Finally, BMO Capital Markets decreased their price objective 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 investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and a consensus target price of $226.42.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of American Tower 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 transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.18% of the company’s stock.

American Tower Stock Performance

Shares of AMT opened at $185.17 on Friday. The company has a market capitalization of $86.53 billion, a price-to-earnings ratio of 78.13, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a 50 day moving average price of $192.08 and a 200 day moving average price of $211.04.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (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 company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the previous year, the company posted $2.58 EPS. The company’s quarterly revenue was down 10.5% on a year-over-year basis. Research analysts predict that American Tower Co. will post 10.15 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is currently 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.