Roberts Wealth Advisors LLC Increases Holdings in American Tower Co. (NYSE:AMT)

Roberts Wealth Advisors LLC raised its stake in shares of American Tower Co. (NYSE:AMT) by 1.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,882 shares of the real estate investment trust’s stock after buying an additional 340 shares during the period. American Tower comprises approximately 2.3% of Roberts Wealth Advisors LLC’s holdings, making the stock its 11th largest position. Roberts Wealth Advisors LLC’s holdings in American Tower were worth $4,940,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pinnacle Holdings LLC purchased a new stake in shares of American Tower in the 1st quarter worth $29,000. Eagle Bay Advisors LLC purchased a new stake in American Tower in the 2nd quarter worth $30,000. VitalStone Financial LLC purchased a new stake in American Tower in the 1st quarter worth $38,000. Thompson Investment Management Inc. purchased a new stake in American Tower in the 4th quarter worth $29,000. Finally, McClarren Financial Advisors Inc. purchased a new position in shares of American Tower during the third quarter valued at about $27,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction of $962,584.84. Following the sale, the director now owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the transaction, the director now owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the completion of the transaction, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on AMT. HSBC began coverage on shares of American Tower in a research note on Thursday, December 14th. They set a “buy” rating and a $245.00 price target for the company. BMO Capital Markets cut their price target on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. JPMorgan Chase & Co. cut their price target on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Finally, Barclays boosted their price objective on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $217.55.

American Tower Stock Down 0.7 %

American Tower stock traded down $1.46 during mid-day trading on Tuesday, reaching $194.10. 1,778,009 shares of the company’s stock were exchanged, compared to its average volume of 2,337,384. The company has a market cap of $90.52 billion, a P/E ratio of 61.04, a P/E/G ratio of 1.33 and a beta of 0.68. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $219.10. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. The company has a fifty day moving average of $196.64 and a 200-day moving average of $191.96.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.74 billion. American Tower had a return on equity of 12.80% and a net margin of 13.31%. American Tower’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.34 earnings per share. Sell-side analysts expect that American Tower Co. will post 10.08 EPS for the current year.

American Tower Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend is Thursday, April 11th. American Tower’s payout ratio is 213.84%.

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.