Linscomb Wealth Inc. Buys 498 Shares of American Tower Co. (NYSE:AMT)

Linscomb Wealth Inc. lifted its stake in American Tower Co. (NYSE:AMT) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,761 shares of the real estate investment trust’s stock after buying an additional 498 shares during the period. Linscomb Wealth Inc.’s holdings in American Tower were worth $9,493,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Balentine LLC bought a new position in American Tower during the 3rd quarter valued at about $586,000. Nordea Investment Management AB increased its holdings in shares of American Tower by 28.5% during the fourth 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 bought a new position in shares of American Tower in the third quarter valued at approximately $1,156,000. TigerOak Management L.L.C. acquired a new position in shares of American Tower in the 4th quarter worth approximately $1,102,000. Finally, Brookstone Capital Management grew its position in 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 acquiring an additional 1,995 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were 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 owns 62,792 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the subject of several research analyst reports. JMP Securities started coverage on American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price objective for the company. Morgan Stanley reduced their price target on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a research report on Monday. Wells Fargo & Company decreased their price objective 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. Scotiabank lowered their price target on shares of 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, Citizens Jmp upgraded American Tower to a “strong-buy” rating in a report on Monday, January 27th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $225.21.

American Tower Stock Up 1.7 %

Shares of AMT opened at $204.12 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The firm’s 50 day moving average is $186.66 and its 200-day moving average is $206.94. The stock has a market capitalization of $95.38 billion, a PE ratio of 86.13, a P/E/G ratio of 1.29 and a beta of 0.84.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 22.01% and a net margin of 10.05%. The company’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company earned $2.29 EPS. Equities research analysts forecast that American Tower Co. will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were given a dividend of $1.62 per share. The ex-dividend date was Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.17%. American Tower’s dividend payout ratio is 273.42%.

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.