1,797 Shares in American Tower Co. (NYSE:AMT) Acquired by Catalytic Wealth RIA LLC

Catalytic Wealth RIA LLC acquired a new stake in American Tower Co. (NYSE:AMTFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,797 shares of the real estate investment trust’s stock, valued at approximately $388,000.

Other large investors have also modified their holdings of the company. Roundview Capital LLC increased its position in American Tower by 96.2% in the 4th quarter. Roundview Capital LLC now owns 13,078 shares of the real estate investment trust’s stock valued at $2,823,000 after acquiring an additional 6,411 shares during the period. New Republic Capital LLC purchased a new position in American Tower during the 4th quarter worth $275,000. Treasurer of the State of North Carolina boosted its holdings in shares of American Tower by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 212,598 shares of the real estate investment trust’s stock valued at $45,896,000 after acquiring an additional 2,020 shares in the last quarter. Holistic Financial Partners acquired a new position in shares of American Tower during the fourth quarter worth about $220,000. Finally, Legacy Advisors LLC raised its holdings in American Tower by 25.3% during the fourth quarter. Legacy Advisors LLC now owns 2,179 shares of the real estate investment trust’s stock worth $470,000 after purchasing an additional 440 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Stock Performance

American Tower stock traded up $5.47 during midday trading on Thursday, reaching $190.79. 2,850,421 shares of the stock traded hands, compared to its average volume of 2,413,089. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $219.10. The firm has a fifty day moving average price of $184.61 and a two-hundred day moving average price of $196.16. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.39. The firm has a market cap of $89.09 billion, a price-to-earnings ratio of 43.17, a PEG ratio of 1.33 and a beta of 0.71.

American Tower (NYSE:AMTGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). American Tower had a net margin of 18.42% and a return on equity of 18.45%. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same quarter in the prior year, the firm earned $2.54 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts forecast that American Tower Co. will post 9.98 earnings per share for the current year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Friday, June 14th. American Tower’s payout ratio is presently 146.61%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AMT shares. Scotiabank dropped their target price 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. Raymond James upgraded shares of American Tower from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $226.00 to $248.00 in a research note on Wednesday, May 1st. BMO Capital Markets lowered their price target on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Morgan Stanley raised their target price on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Finally, Barclays decreased their price target on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a report on Thursday. Three equities 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $220.91.

Get Our Latest Research Report on American Tower

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the business’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 directly owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other American Tower news, Director Robert D. Hormats sold 700 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $183.50, for a total value of $128,450.00. Following the completion of the sale, the director now directly owns 7,332 shares of the company’s stock, valued at $1,345,422. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the completion of the sale, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

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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