American Tower Co. (NYSE:AMT) Shares Purchased by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC increased its stake in shares of American Tower Co. (NYSE:AMT) by 80.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,915 shares of the real estate investment trust’s stock after purchasing an additional 4,427 shares during the period. GC Wealth Management RIA LLC’s holdings in American Tower were worth $1,819,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of AMT. FMR LLC raised its position in shares of American Tower by 25.4% during the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after purchasing an additional 2,152,646 shares during the last quarter. Adelante Capital Management LLC grew its stake in American Tower by 2,723.4% during the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock valued at $279,890,000 after acquiring an additional 1,160,890 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in American Tower during the 4th quarter valued at about $193,246,000. Daiwa Securities Group Inc. grew its stake in American Tower by 456.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 1,124,633 shares of the real estate investment trust’s stock valued at $206,269,000 after acquiring an additional 922,701 shares in the last quarter. Finally, State Street Corp grew its stake in American Tower by 3.1% during the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock valued at $4,924,091,000 after acquiring an additional 635,726 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Ratings Changes

AMT has been the subject of several research reports. Scotiabank dropped their price objective on shares of 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. Mizuho dropped their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. JMP Securities initiated coverage on shares of American Tower in a research note on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective for the company. Citigroup upped their price objective on shares of American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Monday. Finally, Wells Fargo & Company dropped their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, American Tower has an average rating of “Moderate Buy” and a consensus target price of $226.29.

Insiders Place Their Bets

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

American Tower Stock Performance

NYSE:AMT opened at $213.42 on Tuesday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market capitalization of $99.77 billion, a P/E ratio of 90.05, a PEG ratio of 1.29 and a beta of 0.85. The company has a 50 day moving average price of $190.23 and a 200 day moving average price of $206.16. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. The firm had revenue of $2.55 billion during 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 firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company posted $2.29 EPS. Equities research analysts forecast that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be issued a dividend of $1.70 per share. The ex-dividend date is Friday, April 11th. This is a positive change from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a yield of 3.19%. American Tower’s dividend payout ratio is 141.37%.

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.