Western Wealth Management LLC lessened its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 72.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,180 shares of the real estate investment trust's stock after selling 8,175 shares during the quarter. Western Wealth Management LLC's holdings in American Tower were worth $583,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Glenview Trust co grew its holdings in shares of American Tower by 0.8% during the 4th 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 period. CreativeOne Wealth LLC raised its stake in American Tower by 2.1% during the fourth quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust's stock valued at $477,000 after buying an additional 54 shares in the last quarter. Precedent Wealth Partners LLC increased its stake in American Tower by 4.7% during the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust's stock valued at $235,000 after purchasing an additional 58 shares during the last quarter. Safe Harbor Fiduciary LLC lifted its holdings in American Tower by 1.1% in the fourth quarter. Safe Harbor Fiduciary LLC now owns 5,330 shares of the real estate investment trust's stock worth $978,000 after acquiring an additional 58 shares during the last quarter. Finally, Resonant Capital Advisors LLC boosted its position in American Tower by 5.8% during 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 purchasing an additional 61 shares during the period. Hedge funds and other institutional investors own 92.69% of the company's stock.
Analyst Ratings Changes
A number of research analysts have recently commented on the company. Hsbc Global Res raised American Tower to a "strong-buy" rating in a report on Thursday, February 27th. Wells Fargo & Company increased their price objective on American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. BMO Capital Markets raised their target price on American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Royal Bank of Canada upped their price objective on shares of American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Finally, Bank of America began coverage on American Tower in a report on Monday, May 19th. They issued a "buy" rating and a $255.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, American Tower currently has a consensus rating of "Buy" and a consensus price target of $240.25.
Check Out Our Latest Stock Report on AMT
American Tower Stock Down 0.2%
Shares of AMT stock traded down $0.51 on Thursday, hitting $211.96. The stock had a trading volume of 578,139 shares, compared to its average volume of 2,505,828. American Tower Co. has a one year low of $172.51 and a one year high of $243.56. The business has a 50 day moving average price of $215.09 and a 200 day moving average price of $201.93. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The company has a market cap of $99.22 billion, a PE ratio of 89.43, a P/E/G ratio of 1.29 and a beta of 0.86.
American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.34. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter last year, the company posted $2.79 earnings per share. The business's quarterly revenue was down 9.6% compared to the same quarter last year. Research analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current fiscal year.
American Tower Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a yield of 3.21%. American Tower's dividend payout ratio is currently 174.81%.
About American Tower
(
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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