Evernest Financial Advisors LLC Has $248,000 Position in American Tower Co. (NYSE:AMT)

Evernest Financial Advisors LLC decreased its position in American Tower Co. (NYSE:AMT) by 15.0% during the 4th quarter, HoldingsChannel reports. The fund owned 1,353 shares of the real estate investment trust’s stock after selling 238 shares during the quarter. Evernest Financial Advisors LLC’s holdings in American Tower were worth $248,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Truist Financial Corp grew its position in American Tower by 9.6% during the second quarter. Truist Financial Corp now owns 189,063 shares of the real estate investment trust’s stock worth $36,750,000 after buying an additional 16,566 shares in the last quarter. Advisory Alpha LLC grew its holdings in shares of American Tower by 13.7% during the 2nd quarter. Advisory Alpha LLC now owns 1,722 shares of the real estate investment trust’s stock worth $335,000 after purchasing an additional 207 shares in the last quarter. Cetera Investment Advisers increased its position in shares of American Tower by 3.1% in the second quarter. Cetera Investment Advisers now owns 114,913 shares of the real estate investment trust’s stock worth $22,337,000 after purchasing an additional 3,464 shares during the period. Sanctuary Advisors LLC acquired a new position in American Tower in the second quarter valued at about $9,248,000. Finally, Heritage Wealth Management Inc. bought a new stake in American Tower during the second quarter worth about $549,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Price Performance

Shares of NYSE AMT opened at $185.71 on Friday. The company has a market capitalization of $86.78 billion, a PE ratio of 78.36, a P/E/G ratio of 1.23 and a beta of 0.84. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The firm has a fifty day simple moving average of $191.32 and a 200 day simple moving average of $210.78.

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

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.49%. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Insider Activity

In other news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction dated Thursday, January 16th. The shares were 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 owns 62,792 shares in the company, valued at $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. BMO Capital Markets dropped their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research note on Monday. The Goldman Sachs Group decreased their price target on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Scotiabank dropped their price objective on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company decreased their target price on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.