First Affirmative Financial Network Purchases 77 Shares of American Tower Co. (NYSE:AMT)

First Affirmative Financial Network grew its position in American Tower Co. (NYSE:AMT) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,908 shares of the real estate investment trust’s stock after purchasing an additional 77 shares during the period. First Affirmative Financial Network’s holdings in American Tower were worth $533,000 at the end of the most recent reporting period.

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

American Tower Stock Performance

Shares of AMT stock opened at $183.87 on Thursday. The company has a fifty day moving average price of $191.66 and a two-hundred day moving average price of $210.97. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The stock has a market cap of $85.92 billion, a P/E ratio of 77.58, a P/E/G ratio of 1.24 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.58 earnings per share. As a group, equities analysts predict that American Tower Co. will post 10.15 EPS for the current year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s dividend payout ratio is 273.42%.

Insiders Place Their Bets

In other news, CFO Rodney M. Smith sold 16,567 shares of the business’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. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMT. BMO Capital Markets lowered their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Barclays cut their price target on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday. JMP Securities started coverage on American Tower in a report on Monday. They set an “outperform” rating and a $225.00 price objective for the company. Scotiabank dropped their target price on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research report on Thursday, January 23rd. Finally, Citizens Jmp raised American Tower to a “strong-buy” rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $226.23.

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.