Cypress Wealth Services LLC Makes New $339,000 Investment in American Tower Co. (NYSE:AMT)

Cypress Wealth Services LLC bought a new position in American Tower Co. (NYSE:AMTFree Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 1,714 shares of the real estate investment trust’s stock, valued at approximately $339,000.

Several other hedge funds have also made changes to their positions in AMT. Alera Investment Advisors LLC lifted its stake in shares of American Tower by 1.3% during the 4th quarter. Alera Investment Advisors LLC now owns 4,105 shares of the real estate investment trust’s stock worth $886,000 after purchasing an additional 51 shares during the last quarter. Allstate Corp lifted its stake in shares of American Tower by 3.1% during the 4th quarter. Allstate Corp now owns 1,750 shares of the real estate investment trust’s stock worth $378,000 after purchasing an additional 53 shares during the last quarter. First Business Financial Services Inc. lifted its stake in shares of American Tower by 1.3% during the 3rd quarter. First Business Financial Services Inc. now owns 4,290 shares of the real estate investment trust’s stock worth $705,000 after purchasing an additional 55 shares during the last quarter. Augustine Asset Management Inc. lifted its stake in shares of American Tower by 0.8% during the 4th quarter. Augustine Asset Management Inc. now owns 7,092 shares of the real estate investment trust’s stock worth $1,531,000 after purchasing an additional 56 shares during the last quarter. Finally, McIlrath & Eck LLC lifted its stake in shares of American Tower by 13.9% during the 4th quarter. McIlrath & Eck LLC now owns 459 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 56 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AMT shares. JPMorgan Chase & Co. decreased their price objective on 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 started coverage on American Tower in a research report on Monday, April 8th. They set a “neutral” rating and a $205.00 target price on the stock. Raymond James raised American Tower from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $226.00 to $248.00 in a research report on Wednesday, May 1st. Scotiabank reduced 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. Finally, Barclays reduced their target price on American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $220.91.

Get Our Latest Stock Analysis on AMT

American Tower Stock Performance

Shares of AMT stock traded up $2.61 during mid-day trading on Thursday, reaching $195.28. The stock had a trading volume of 1,599,273 shares, compared to its average volume of 2,422,274. The business’s fifty day moving average is $187.27 and its 200-day moving average is $195.21. 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 $91.19 billion, a price-to-earnings ratio of 44.18, a PEG ratio of 1.37 and a beta of 0.79. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10.

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 for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.54 earnings per share. On average, research analysts forecast that American Tower Co. will post 10.03 earnings per share for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Friday, June 14th. American Tower’s dividend payout ratio (DPR) is 146.61%.

Insider Buying and Selling

In related news, EVP Sanjay Goel sold 3,504 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the sale, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Sanjay Goel sold 3,504 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the sale, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert D. Hormats sold 700 shares of the 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 owns 7,332 shares in the company, valued at approximately $1,345,422. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

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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