Wealth Enhancement Advisory Services LLC Has $50.50 Million Position in American Tower Co. (NYSE:AMT)

Wealth Enhancement Advisory Services LLC lowered its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 275,328 shares of the real estate investment trust's stock after selling 7,141 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.06% of American Tower worth $50,498,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Minot DeBlois Advisors LLC purchased a new stake in American Tower in the fourth quarter worth about $29,000. Roxbury Financial LLC bought a new position in American Tower during the fourth quarter valued at approximately $32,000. Graney & King LLC bought a new position in American Tower during the fourth quarter valued at approximately $32,000. Crowley Wealth Management Inc. bought a new position in American Tower during the fourth quarter valued at approximately $37,000. Finally, 10Elms LLP purchased a new stake in American Tower during the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

Analyst Ratings Changes

AMT has been the topic of several recent analyst reports. Barclays increased their price target on American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Citigroup raised their price objective on American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Hsbc Global Res raised shares of American Tower to a "strong-buy" rating in a research report on Thursday, February 27th. BMO Capital Markets increased their price target on American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Finally, Scotiabank increased their price target on American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, American Tower currently has a consensus rating of "Buy" and a consensus price target of $240.25.

American Tower Stock Performance

Shares of NYSE:AMT traded up $1.06 during trading hours on Friday, hitting $214.77. The stock had a trading volume of 5,861,516 shares, compared to its average volume of 2,524,765. American Tower Co. has a 1-year low of $172.51 and a 1-year high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market capitalization of $100.54 billion, a price-to-earnings ratio of 90.62, a PEG ratio of 1.29 and a beta of 0.86. The stock's fifty day simple moving average is $215.21 and its 200 day simple moving average is $202.20.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.34. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.54 billion. During the same period in the previous year, the company posted $2.79 EPS. The company's quarterly revenue was down 9.6% compared to the same quarter last year. Sell-side analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Friday, June 13th. American Tower's dividend payout ratio is 174.81%.

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.