Steward Partners Investment Advisory LLC Buys 4,345 Shares of American Tower Co. (NYSE:AMT)

Steward Partners Investment Advisory LLC increased its stake in shares of American Tower Co. (NYSE:AMT) by 16.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,559 shares of the real estate investment trust’s stock after buying an additional 4,345 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in American Tower were worth $5,788,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of AMT. Rehmann Capital Advisory Group lifted its holdings in shares of American Tower by 4.2% during the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock valued at $332,000 after acquiring an additional 58 shares during the period. Precedent Wealth Partners LLC increased its position in shares of 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 worth $235,000 after purchasing an additional 58 shares in the last quarter. Resonant Capital Advisors LLC lifted its holdings in American Tower by 5.8% during the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock valued at $206,000 after purchasing an additional 61 shares during the last quarter. Calamos Wealth Management LLC boosted its position in American Tower by 2.9% in the fourth quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust’s stock valued at $398,000 after buying an additional 61 shares in the last quarter. Finally, Sunburst Financial Group LLC grew its stake in American Tower by 4.9% during the fourth quarter. Sunburst Financial Group LLC now owns 1,354 shares of the real estate investment trust’s stock worth $248,000 after buying an additional 63 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Up 0.9 %

Shares of NYSE AMT opened at $209.01 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 firm has a market capitalization of $97.67 billion, a PE ratio of 88.19, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The firm’s 50-day moving average is $188.53 and its 200-day moving average is $206.45. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.83. The firm had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the firm earned $2.29 earnings per share. Equities analysts expect that American Tower Co. will post 10.14 EPS for the current year.

Analyst Upgrades and Downgrades

AMT has been the subject of a number of research analyst reports. Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Mizuho reduced their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Barclays decreased their target price on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Wells Fargo & Company cut their price target on American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Finally, Morgan Stanley decreased their price objective on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $225.21.

Insider Transactions at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.18% of the stock is owned by corporate insiders.

About American Tower

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.