Soltis Investment Advisors LLC increased its holdings in American Tower Co. (NYSE:AMT - Free Report) by 20.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,411 shares of the real estate investment trust's stock after purchasing an additional 7,414 shares during the quarter. American Tower makes up approximately 1.1% of Soltis Investment Advisors LLC's holdings, making the stock its 15th largest holding. Soltis Investment Advisors LLC's holdings in American Tower were worth $9,372,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of AMT. Personal Capital Advisors Corp lifted its holdings in American Tower by 1.7% in the first quarter. Personal Capital Advisors Corp now owns 2,510 shares of the real estate investment trust's stock worth $631,000 after buying an additional 43 shares during the period. Lumature Wealth Partners LLC lifted its holdings in American Tower by 40.3% in the first quarter. Lumature Wealth Partners LLC now owns 174 shares of the real estate investment trust's stock worth $44,000 after buying an additional 50 shares during the period. Alera Investment Advisors LLC lifted its holdings in American Tower by 1.3% in the fourth quarter. Alera Investment Advisors LLC now owns 4,105 shares of the real estate investment trust's stock worth $886,000 after buying an additional 51 shares during the period. McIlrath & Eck LLC lifted its holdings in American Tower by 18.5% in the fourth quarter. McIlrath & Eck LLC now owns 333 shares of the real estate investment trust's stock worth $71,000 after buying an additional 52 shares during the period. Finally, Golden State Equity Partners lifted its holdings in American Tower by 7.0% in the first quarter. Golden State Equity Partners now owns 806 shares of the real estate investment trust's stock worth $202,000 after buying an additional 53 shares during the period. 92.69% of the stock is owned by institutional investors.
Analysts Set New Price Targets
AMT has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their target price on shares of American Tower from $236.00 to $230.00 and set an "overweight" rating for the company in a report on Wednesday, February 28th. BMO Capital Markets lowered their target price on shares of American Tower from $235.00 to $228.00 and set an "outperform" rating for the company in a report on Wednesday, February 28th. HSBC initiated coverage on shares of American Tower in a report on Thursday, December 14th. They set a "buy" rating and a $245.00 target price for the company. Mizuho started coverage on shares of American Tower in a report on Monday. They set a "neutral" rating and a $205.00 target price for the company. Finally, Barclays boosted their price objective on shares of American Tower from $224.00 to $234.00 and gave the stock an "overweight" rating in a report on Tuesday, March 5th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $214.91.
View Our Latest Stock Analysis on AMT
American Tower Stock Performance
Shares of AMT stock traded up $4.71 during mid-day trading on Tuesday, reaching $192.92. 1,962,873 shares of the company's stock traded hands, compared to its average volume of 2,329,724. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10. The firm has a 50 day moving average price of $194.88 and a two-hundred day moving average price of $193.02. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market capitalization of $89.97 billion, a PE ratio of 59.22, a price-to-earnings-growth ratio of 1.32 and a beta of 0.67.
American Tower (NYSE:AMT - Get Free Report) last issued its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($1.16). American Tower had a return on equity of 12.80% and a net margin of 13.31%. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the prior year, the company posted $2.34 EPS. The company's quarterly revenue was up 3.0% on a year-over-year basis. On average, research analysts forecast that American Tower Co. will post 10.08 EPS for the current year.
American Tower Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.36%. The ex-dividend date is Thursday, April 11th. American Tower's dividend payout ratio (DPR) is presently 213.84%.
Insider Activity at American Tower
In related news, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total transaction of $962,584.84. Following the sale, the director now owns 18,545 shares of the company's stock, valued at approximately $3,532,080.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the sale, the director now owns 18,545 shares of the company's stock, valued at approximately $3,532,080.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the sale, the chief financial officer now directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. 0.24% 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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