Twin City Private Wealth LLC Has $1.48 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Twin City Private Wealth LLC lifted its stake in shares of American Tower Co. (NYSE:AMT) by 9.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,015 shares of the real estate investment trust’s stock after purchasing an additional 661 shares during the period. Twin City Private Wealth LLC’s holdings in American Tower were worth $1,483,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AMT. Landscape Capital Management L.L.C. acquired a new stake in shares of American Tower during the third quarter worth $364,000. Meridian Wealth Management LLC acquired a new stake in shares of American Tower during the third quarter worth $254,000. Nwam LLC purchased a new position in shares of American Tower during the third quarter valued at $373,000. Cerity Partners LLC grew its holdings in shares of American Tower by 36.7% during the third quarter. Cerity Partners LLC now owns 129,234 shares of the real estate investment trust’s stock valued at $30,055,000 after buying an additional 34,670 shares in the last quarter. Finally, Swedbank AB grew its holdings in shares of American Tower by 0.8% during the third quarter. Swedbank AB now owns 602,841 shares of the real estate investment trust’s stock valued at $140,197,000 after buying an additional 4,627 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Price Performance

Shares of NYSE:AMT opened at $216.41 on Monday. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $101.16 billion, a P/E ratio of 91.31, a P/E/G ratio of 1.29 and a beta of 0.85. The business has a 50-day moving average of $195.99 and a two-hundred day moving average of $205.24.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter in the previous year, the firm earned $2.29 EPS. The firm’s revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts predict that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Friday, April 11th. This is a boost from American Tower’s previous quarterly dividend of $1.62. American Tower’s payout ratio is currently 141.37%.

Wall Street Analyst Weigh In

A number of research analysts have commented on AMT shares. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Morgan Stanley lowered their target price on American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. BMO Capital Markets boosted their target price on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Citigroup boosted their target price on American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Finally, Mizuho lowered their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $229.43.

Insider Buying and Selling

In other American Tower 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 value of $3,000,283.70. Following the completion of the transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.18% of the stock is owned by 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.