American Tower Co. (NYSE:AMT) Shares Bought by Avestar Capital LLC

Avestar Capital LLC raised its position in American Tower Co. (NYSE:AMTFree Report) by 23.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,779 shares of the real estate investment trust’s stock after purchasing an additional 521 shares during the quarter. Avestar Capital LLC’s holdings in American Tower were worth $605,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Thompson Investment Management Inc. acquired a new position in shares of American Tower during the fourth quarter valued at approximately $29,000. Private Wealth Management Group LLC acquired a new position in shares of American Tower during the fourth quarter valued at approximately $31,000. Brown Shipley& Co Ltd acquired a new position in shares of American Tower during the third quarter valued at approximately $35,000. Valley National Advisers Inc. increased its stake in shares of American Tower by 200.0% during the fourth quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 118 shares during the period. Finally, Oakworth Capital Inc. increased its stake in shares of American Tower by 157.9% during the fourth quarter. Oakworth Capital Inc. now owns 196 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 120 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

AMT has been the subject of a number of research reports. BMO Capital Markets reduced their target price on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 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 report on Monday, April 15th. JPMorgan Chase & Co. decreased their price objective 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. Finally, Mizuho assumed coverage on shares of American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $220.91.

Get Our Latest Research Report on AMT

Insiders Place Their Bets

In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the sale, the chief financial officer now directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert D. Hormats sold 700 shares of American Tower stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $183.50, for a total transaction of $128,450.00. Following 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. Company insiders own 0.18% of the company’s stock.

American Tower Stock Up 3.0 %

Shares of American Tower stock traded up $5.47 during midday trading on Thursday, reaching $190.79. 2,850,421 shares of the company’s stock traded hands, compared to its average volume of 2,413,089. The company has a market cap of $89.09 billion, a price-to-earnings ratio of 43.17, a price-to-earnings-growth ratio of 1.33 and a beta of 0.71. The company’s 50 day simple moving average is $184.61 and its 200 day simple moving average is $196.16. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.85 and a current ratio of 0.85. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $219.10.

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

American Tower Announces Dividend

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

American Tower 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.

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

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