Checchi Capital Advisers LLC Purchases 336 Shares of American Tower Co. (NYSE:AMT)

Checchi Capital Advisers LLC grew its position in shares of American Tower Co. (NYSE:AMT) by 5.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,052 shares of the real estate investment trust’s stock after buying an additional 336 shares during the period. Checchi Capital Advisers LLC’s holdings in American Tower were worth $1,110,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AMT. Balentine LLC acquired a new stake in shares of American Tower during the 3rd quarter worth $586,000. Nordea Investment Management AB grew its holdings 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 purchasing an additional 314,769 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of American Tower during the 3rd quarter worth $1,156,000. TigerOak Management L.L.C. acquired a new stake in shares of American Tower during the 4th quarter worth $1,102,000. Finally, Brookstone Capital Management grew its holdings in shares of American Tower by 29.0% during the 4th 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 own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on AMT. JMP Securities began coverage on American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 target price on the stock. BMO Capital Markets raised their price objective on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday. Citizens Jmp raised American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Barclays reduced their price objective on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, 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. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.21.

American Tower Price Performance

Shares of AMT opened at $200.75 on Thursday. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. 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 company has a market capitalization 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. The business has a 50-day moving average of $186.16 and a 200-day moving average of $206.96.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same period last year, the company earned $2.29 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. As a group, equities research analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were issued a $1.62 dividend. The ex-dividend date was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.23%. American Tower’s payout ratio is currently 273.42%.

Insiders Place Their Bets

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction that occurred on 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 in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.