Wealth Enhancement Advisory Services LLC Has $51.86 Million Position in American Tower Co. (NYSE:AMT)

Wealth Enhancement Advisory Services LLC raised its holdings in American Tower Co. (NYSE:AMT) by 0.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 282,751 shares of the real estate investment trust’s stock after buying an additional 282 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.06% of American Tower worth $51,859,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMT. Acadian Asset Management LLC increased its stake in American Tower by 1,791.9% in the 2nd quarter. Acadian Asset Management LLC now owns 12,316 shares of the real estate investment trust’s stock valued at $2,392,000 after buying an additional 11,665 shares during the last quarter. Headlands Technologies LLC acquired a new stake in American Tower in the 2nd quarter valued at $144,000. LPL Financial LLC increased its stake in shares of American Tower by 1.5% during the 2nd quarter. LPL Financial LLC now owns 340,456 shares of the real estate investment trust’s stock worth $66,178,000 after purchasing an additional 4,941 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of American Tower by 4.9% in the 2nd quarter. American Century Companies Inc. now owns 1,094,625 shares of the real estate investment trust’s stock valued at $212,773,000 after purchasing an additional 51,167 shares during the period. Finally, Y.D. More Investments Ltd raised its holdings in shares of American Tower by 15.9% in the 2nd quarter. Y.D. More Investments Ltd now owns 445 shares of the real estate investment trust’s stock valued at $86,000 after purchasing an additional 61 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AMT. Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $245.00 to $230.00 in a report on Thursday, October 10th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price 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. BMO Capital Markets dropped their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Finally, Mizuho dropped their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday. Four equities research 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, American Tower currently has a consensus rating of “Moderate Buy” and an average target price of $233.67.

American Tower Stock Performance

Shares of NYSE:AMT opened at $173.54 on Friday. The company’s 50 day moving average price is $194.98 and its two-hundred day moving average price is $211.65. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The firm has a market cap of $81.09 billion, a PE ratio of 73.22, a PEG ratio of 1.31 and a beta of 0.84. 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 (NYSE:AMT) last announced its earnings results 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). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the previous year, the company earned $2.58 EPS. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. Equities research analysts predict that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.73%. American Tower’s payout ratio is presently 273.42%.

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.