American Tower Co. (NYSE:AMT) Shares Acquired by Lineweaver Wealth Advisors LLC

Lineweaver Wealth Advisors LLC boosted its holdings in American Tower Co. (NYSE:AMT) by 11.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 4,344 shares of the real estate investment trust’s stock after buying an additional 441 shares during the quarter. Lineweaver Wealth Advisors LLC’s holdings in American Tower were worth $798,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC grew its holdings in American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 78 shares during the period. Hara Capital LLC acquired a new position in shares of American Tower in the 3rd quarter valued at $31,000. Roxbury Financial LLC acquired a new stake in American Tower during the fourth quarter worth about $32,000. Legacy Investment Solutions LLC acquired a new stake in American Tower during the third quarter worth about $34,000. Finally, Activest Wealth Management raised its holdings in American Tower by 431.0% in the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 125 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on AMT shares. Morgan Stanley cut their price target on American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a research note on Monday. Citigroup cut their price target on American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Scotiabank decreased their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research note on Thursday, January 23rd. BMO Capital Markets raised their price target on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Four analysts have rated the stock with a hold rating, ten 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 company has an average rating of “Moderate Buy” and an average price target of $225.21.

American Tower Stock Performance

NYSE:AMT opened at $200.75 on Thursday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The company has a 50-day moving average of $186.16 and a 200-day moving average of $206.96. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The firm has a market cap of $93.81 billion, a price-to-earnings ratio of 84.70, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.83. The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.29 earnings per share. Analysts forecast that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Insider Activity

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business’s 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 sale, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is currently owned by company insiders.

American Tower Company 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.