Baker Tilly Wealth Management LLC Has $1.01 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Baker Tilly Wealth Management LLC boosted its stake in American Tower Co. (NYSE:AMT) by 11.0% in the third quarter, Holdings Channel reports. The institutional investor owned 4,323 shares of the real estate investment trust’s stock after acquiring an additional 427 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in American Tower were worth $1,005,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AMT. Cultivar Capital Inc. acquired a new position in American Tower in the 2nd quarter worth about $25,000. Fairscale Capital LLC acquired a new position in American Tower in the second quarter worth approximately $27,000. Hobbs Group Advisors LLC bought a new position in American Tower during the second quarter valued at approximately $29,000. Northwest Investment Counselors LLC acquired a new stake in American Tower in the third quarter valued at approximately $30,000. Finally, Family Firm Inc. acquired a new position in shares of American Tower during the 2nd quarter worth $35,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on AMT. Barclays raised their target price on American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. BMO Capital Markets boosted their target price on American Tower from $246.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. Deutsche Bank Aktiengesellschaft increased their price target on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Royal Bank of Canada boosted their price objective on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Finally, TD Cowen raised their target price on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $237.92.

American Tower Stock Down 1.4 %

NYSE AMT opened at $222.80 on Monday. American Tower Co. has a twelve month low of $162.55 and a twelve month high of $243.56. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $104.07 billion, a PE ratio of 41.88, a PEG ratio of 1.09 and a beta of 0.83. The firm has a 50-day simple moving average of $228.80 and a 200 day simple moving average of $207.84.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.52). The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. American Tower’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.46 EPS. On average, research analysts forecast that American Tower Co. will post 10.08 EPS for the current year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio is 121.80%.

Insider Transactions at American Tower

In related news, EVP Olivier Puech sold 10,005 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $233.27, for a total value of $2,333,866.35. Following the completion of the transaction, the executive vice president now owns 51,746 shares of the company’s stock, valued at $12,070,789.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other American Tower news, EVP Olivier Puech sold 10,005 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total value of $2,333,866.35. Following the sale, the executive vice president now directly owns 51,746 shares in the company, valued at $12,070,789.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total value of $4,953,510.00. Following the transaction, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 33,723 shares of company stock valued at $7,795,397. Company insiders own 0.18% of the company’s stock.

American Tower 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.