Glassman Wealth Services Acquires 56 Shares of American Tower Co. (NYSE:AMT)

Glassman Wealth Services grew its holdings in American Tower Co. (NYSE:AMT) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,242 shares of the real estate investment trust’s stock after purchasing an additional 56 shares during the period. Glassman Wealth Services’ holdings in American Tower were worth $268,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of AMT. Cross Staff Investments Inc lifted its position in shares of American Tower by 5.1% during the fourth quarter. Cross Staff Investments Inc now owns 5,027 shares of the real estate investment trust’s stock worth $1,085,000 after acquiring an additional 244 shares in the last quarter. Gateway Investment Advisers LLC boosted its stake in American Tower by 57.7% in the 4th quarter. Gateway Investment Advisers LLC now owns 35,751 shares of the real estate investment trust’s stock worth $7,718,000 after purchasing an additional 13,074 shares during the period. Anchor Capital Advisors LLC grew its holdings in American Tower by 38.1% during the 4th quarter. Anchor Capital Advisors LLC now owns 76,625 shares of the real estate investment trust’s stock valued at $16,542,000 after buying an additional 21,139 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of American Tower by 0.5% during the third quarter. Victory Capital Management Inc. now owns 177,288 shares of the real estate investment trust’s stock valued at $29,155,000 after buying an additional 806 shares during the period. Finally, FAS Wealth Partners Inc. bought a new position in shares of American Tower in the fourth quarter valued at approximately $2,001,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Trading Down 0.4 %

American Tower stock traded down $0.67 during mid-day trading on Friday, hitting $185.93. The company’s stock had a trading volume of 1,257,941 shares, compared to its average volume of 2,430,903. The business has a 50 day moving average price of $185.29 and a 200-day moving average price of $196.16. The company has a debt-to-equity ratio of 3.39, a current ratio of 0.85 and a quick ratio of 0.85. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10. The stock has a market cap of $86.83 billion, a price-to-earnings ratio of 42.07, a price-to-earnings-growth ratio of 1.33 and a beta of 0.71.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). American Tower had a return on equity of 18.45% and a net margin of 18.42%. The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same period last year, the firm earned $2.54 earnings per share. American Tower’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, analysts forecast that American Tower Co. will post 10 EPS for the current year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be paid a $1.62 dividend. The ex-dividend date is Friday, June 14th. This represents a $6.48 annualized dividend and a dividend yield of 3.49%. American Tower’s payout ratio is presently 146.61%.

Analyst Ratings Changes

A number of analysts recently weighed in on AMT shares. Morgan Stanley upped their target price on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Mizuho began coverage on American Tower in a research report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price objective on the stock. Raymond James upgraded American Tower from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $226.00 to $248.00 in a research report on Wednesday, May 1st. BMO Capital Markets lowered their price target on American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $221.91.

Insider Activity at American Tower

In other news, Director Pamela D. A. Reeve sold 5,054 shares of American Tower 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 sale was disclosed in a filing with the SEC, which is available through this link. In other American Tower news, Director Robert D. Hormats sold 700 shares of American Tower stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total transaction of $128,450.00. Following the sale, the director now directly owns 7,332 shares of the company’s stock, valued at approximately $1,345,422. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $962,584.84. Following the completion of the transaction, the director now directly owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. Insiders have sold a total of 17,264 shares of company stock worth $3,458,757 in the last 90 days. Company insiders own 0.18% of the company’s stock.

About American Tower

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.