AssuredPartners Investment Advisors LLC Purchases New Holdings in American Tower Co. (NYSE:AMT)

AssuredPartners Investment Advisors LLC acquired a new position in shares of American Tower Co. (NYSE:AMT) during the 4th quarter, Holdings Channel reports. The firm acquired 2,145 shares of the real estate investment trust’s stock, valued at approximately $393,000.

A number of other institutional investors also recently made changes to their positions in AMT. Glenview Trust co lifted its position in shares of American Tower by 0.8% during the fourth quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust’s stock worth $1,294,000 after purchasing an additional 54 shares during the last quarter. Rehmann Capital Advisory Group lifted its holdings in American Tower by 4.2% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock worth $332,000 after buying an additional 58 shares during the last quarter. Precedent Wealth Partners LLC grew its position in shares of American Tower by 4.7% in the 4th quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock worth $235,000 after acquiring an additional 58 shares in the last quarter. Resonant Capital Advisors LLC increased its holdings in shares of American Tower by 5.8% in the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock valued at $206,000 after acquiring an additional 61 shares during the last quarter. Finally, Calamos Wealth Management LLC lifted its stake in American Tower by 2.9% during the fourth quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust’s stock worth $398,000 after purchasing an additional 61 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on AMT shares. JMP Securities started coverage on shares of American Tower in a research note on Monday, January 27th. They set an “outperform” rating and a $225.00 target price for the company. The Goldman Sachs Group dropped their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Barclays lifted their target price on American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Citigroup increased their price target on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Finally, Wells Fargo & Company upgraded American Tower from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $210.00 to $230.00 in a research report on Monday, March 17th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $229.43.

American Tower Trading Up 0.7 %

Shares of NYSE:AMT opened at $215.52 on Friday. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market cap of $100.74 billion, a P/E ratio of 90.94, a P/E/G ratio of 1.29 and a beta of 0.85. The company has a 50 day moving average of $198.89 and a 200-day moving average of $204.85.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same period last year, the company posted $2.29 EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.16%. This is an increase from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. American Tower’s dividend payout ratio is presently 141.37%.

American Tower Profile

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.