American Tower Co. (NYSE:AMT) Shares Purchased by Wealth Alliance

Wealth Alliance boosted its holdings in American Tower Co. (NYSE:AMT) by 19.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,537 shares of the real estate investment trust’s stock after purchasing an additional 735 shares during the quarter. Wealth Alliance’s holdings in American Tower were worth $980,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in AMT. McClarren Financial Advisors Inc. acquired a new stake in American Tower during the third quarter worth about $27,000. Emerald Advisers LLC purchased a new stake in shares of American Tower in the third quarter worth about $29,000. Thompson Investment Management Inc. purchased a new stake in shares of American Tower in the fourth quarter worth about $29,000. Pinnacle Holdings LLC purchased a new stake in shares of American Tower in the first quarter worth about $29,000. Finally, Eagle Bay Advisors LLC purchased a new stake in shares of American Tower in the second quarter worth about $30,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Trading Down 3.3 %

NYSE:AMT opened at $172.19 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. The business’s 50 day moving average is $193.26 and its two-hundred day moving average is $193.74. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $219.10. The company has a market cap of $80.30 billion, a PE ratio of 54.15, a P/E/G ratio of 1.24 and a beta of 0.67.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). American Tower had a return on equity of 12.80% and a net margin of 13.31%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the prior year, the business earned $2.34 EPS. The company’s quarterly revenue was up 3.0% on a year-over-year basis. On average, analysts predict that American Tower Co. will post 10.05 EPS for the current year.

American Tower Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th 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 3.76%. The ex-dividend date of this dividend is Thursday, April 11th. American Tower’s payout ratio is 203.77%.

Analyst Ratings Changes

AMT has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their target price on American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. BMO Capital Markets decreased their target price on American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Morgan Stanley increased their price target on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Barclays increased their price target on American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.36.

Insider Transactions at American Tower

In other news, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total transaction of $962,584.84. Following the sale, the director now directly owns 18,545 shares in the company, valued at approximately $3,532,080.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the sale, the director now directly owns 18,545 shares in the company, valued at approximately $3,532,080.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the sale, the chief financial officer now owns 62,969 shares in the company, valued at $12,953,352.99. The disclosure for this sale can be found here. Insiders own 0.24% 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.