Patriot Financial Group Insurance Agency LLC Acquires 133 Shares of American Tower Co. (NYSE:AMT)

Patriot Financial Group Insurance Agency LLC grew its stake in American Tower Co. (NYSE:AMT) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,531 shares of the real estate investment trust’s stock after purchasing an additional 133 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in American Tower were worth $831,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of AMT. CX Institutional grew its position in American Tower by 2.9% in the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock valued at $450,000 after acquiring an additional 54 shares during the period. Palumbo Wealth Management LLC grew its holdings in shares of American Tower by 1.6% in the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock worth $864,000 after purchasing an additional 57 shares during the last quarter. Rehmann Capital Advisory Group increased its position in shares of 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 purchasing an additional 58 shares in the last quarter. Precedent Wealth Partners LLC lifted its holdings in American Tower by 4.7% during the 4th 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. Finally, Sivia Capital Partners LLC boosted its position in American Tower by 5.3% in the third quarter. Sivia Capital Partners LLC now owns 1,179 shares of the real estate investment trust’s stock valued at $274,000 after buying an additional 59 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the sale, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.18% of the company’s stock.

American Tower Stock Down 2.6 %

Shares of NYSE:AMT opened at $187.06 on Wednesday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market cap of $87.41 billion, a price-to-earnings ratio of 78.93, a P/E/G ratio of 1.24 and a beta of 0.84. The company has a 50 day moving average of $191.94 and a 200-day moving average of $211.14. American Tower Co. has a one year low of $170.46 and a one year high of $243.56.

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

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.46%. American Tower’s dividend payout ratio is presently 273.42%.

Wall Street Analysts Forecast Growth

AMT has been the subject of several recent analyst reports. JMP Securities started coverage on shares of American Tower in a report on Monday. They set an “outperform” rating and a $225.00 price objective for the company. The Goldman Sachs Group dropped their price target on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Scotiabank reduced their price objective on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research note on Thursday, January 23rd. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research note on Monday. Finally, BMO Capital Markets reduced their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and an average price target of $226.23.

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.