American Tower Co. (NYSE:AMT) Shares Acquired by Marion Wealth Management

Marion Wealth Management increased its holdings in shares of American Tower Co. (NYSE:AMTFree Report) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,952 shares of the real estate investment trust’s stock after acquiring an additional 132 shares during the quarter. Marion Wealth Management’s holdings in American Tower were worth $978,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Gold Investment Management Ltd. bought a new stake in shares of American Tower in the 4th quarter worth approximately $28,000. Thompson Investment Management Inc. bought a new stake in American Tower in the 4th quarter valued at about $29,000. Private Wealth Management Group LLC bought a new stake in American Tower in the 4th quarter valued at about $31,000. Valley National Advisers Inc. increased its stake in shares of American Tower by 200.0% in the fourth quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 118 shares during the period. Finally, Security National Bank acquired a new position in shares of American Tower during the fourth quarter worth approximately $41,000. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 0.3 %

Shares of AMT traded up $0.50 during mid-day trading on Wednesday, reaching $192.78. The company’s stock had a trading volume of 2,407,868 shares, compared to its average volume of 2,288,610. American Tower Co. has a 1 year low of $154.58 and a 1 year high of $219.10. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.39. The company has a market cap of $90.02 billion, a price-to-earnings ratio of 43.62, a price-to-earnings-growth ratio of 1.37 and a beta of 0.79. The business has a fifty day moving average of $185.46 and a 200 day moving average of $195.75.

American Tower (NYSE:AMTGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.47). American Tower had a return on equity of 18.45% and a net margin of 18.42%. The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same period in the prior year, the company posted $2.54 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. As a group, analysts forecast that American Tower Co. will post 10.03 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 14th will be issued a dividend of $1.62 per share. The ex-dividend date is Friday, June 14th. This represents a $6.48 annualized dividend and a yield of 3.36%. American Tower’s dividend payout ratio (DPR) is currently 146.61%.

Insiders Place Their Bets

In related news, Director Robert D. Hormats sold 700 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total value of $128,450.00. Following the transaction, the director now directly owns 7,332 shares of the company’s stock, valued at approximately $1,345,422. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Sanjay Goel sold 3,504 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total transaction of $702,061.44. Following the completion of the transaction, the executive vice president now directly owns 28,413 shares in the company, valued at approximately $5,692,828.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert D. Hormats sold 700 shares of the firm’s stock in a transaction 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 completion of the sale, the director now owns 7,332 shares in the company, valued at $1,345,422. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. BMO Capital Markets cut their target price on American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Barclays lowered their target price on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. JPMorgan Chase & Co. reduced their price target on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. Mizuho began coverage on shares of American Tower in a research note on Monday, April 8th. They set a “neutral” rating and a $205.00 price objective on the stock. Finally, Scotiabank lowered their price target on American Tower from $243.00 to $223.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $220.91.

Read Our Latest Stock Analysis on AMT

American Tower Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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