American Tower Co. (NYSE:AMT) Position Boosted by LVW Advisors LLC

LVW Advisors LLC raised its holdings in shares of American Tower Co. (NYSE:AMT) by 76.9% during the 4th quarter, Holdings Channel reports. The fund owned 2,745 shares of the real estate investment trust’s stock after purchasing an additional 1,193 shares during the period. LVW Advisors LLC’s holdings in American Tower were worth $504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the business. Balentine LLC bought a new stake in shares of American Tower during the third quarter valued at about $586,000. Nordea Investment Management AB raised its position in shares of American Tower by 28.5% during the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after buying an additional 314,769 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of American Tower in the 3rd quarter worth approximately $1,156,000. Czech National Bank increased its stake in shares of American Tower by 6.9% during the third quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock valued at $22,128,000 after acquiring an additional 6,163 shares during the period. Finally, Brookstone Capital Management raised its holdings in American Tower by 29.0% during the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock worth $1,629,000 after purchasing an additional 1,995 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of American Tower stock opened at $190.51 on Tuesday. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. 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 stock has a market cap of $89.02 billion, a PE ratio of 80.39, a price-to-earnings-growth ratio of 1.16 and a beta of 0.84. The business has a fifty day simple moving average of $192.86 and a 200-day simple moving average of $211.54.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($1.56). The business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company’s revenue was down 10.5% compared to the same quarter last year. During the same period last year, the firm earned $2.58 EPS. On average, sell-side analysts anticipate that American Tower Co. will post 10.15 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is currently 273.42%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AMT shares. JPMorgan Chase & Co. lifted their price target on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Barclays cut their price target on shares of American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a report on Monday, January 13th. The Goldman Sachs Group dropped their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, Scotiabank reduced their target price on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $230.67.

Insider Activity

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated Thursday, January 16th. The stock was 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 $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is currently owned by corporate insiders.

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.