Values Added Financial LLC Acquires Shares of 953 American Tower Co. (NYSE:AMT)

Values Added Financial LLC acquired a new stake in American Tower Co. (NYSE:AMT) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 953 shares of the real estate investment trust’s stock, valued at approximately $206,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMT. Cohen & Steers Inc. lifted its position in shares of American Tower by 44.2% during the 2nd quarter. Cohen & Steers Inc. now owns 9,842,980 shares of the real estate investment trust’s stock valued at $1,908,844,000 after acquiring an additional 3,016,160 shares during the period. Gateway Investment Advisers LLC lifted its position in shares of American Tower by 57.7% during the 4th quarter. Gateway Investment Advisers LLC now owns 35,751 shares of the real estate investment trust’s stock valued at $7,718,000 after acquiring an additional 13,074 shares during the period. Victory Capital Management Inc. lifted its position in shares of American Tower by 0.5% during the 3rd quarter. Victory Capital Management Inc. now owns 177,288 shares of the real estate investment trust’s stock valued at $29,155,000 after acquiring an additional 806 shares during the period. PDS Planning Inc lifted its position in shares of American Tower by 16.1% during the 3rd quarter. PDS Planning Inc now owns 1,821 shares of the real estate investment trust’s stock valued at $299,000 after acquiring an additional 253 shares during the period. Finally, Cyndeo Wealth Partners LLC lifted its position in shares of American Tower by 3.8% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 9,908 shares of the real estate investment trust’s stock valued at $1,629,000 after acquiring an additional 365 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

American Tower Trading Up 0.1 %

Shares of AMT stock opened at $197.59 on Friday. The stock has a market cap of $92.15 billion, a price-to-earnings ratio of 62.14, a PEG ratio of 1.37 and a beta of 0.68. The stock has a 50-day moving average of $196.21 and a 200-day moving average of $192.09. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.29. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($1.16). The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.34 EPS. On average, equities research analysts forecast that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $6.48 annualized dividend and a yield of 3.28%. American Tower’s dividend payout ratio is currently 213.84%.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the completion of the sale, the chief financial officer now owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the transaction, the director now owns 18,545 shares in the company, valued at $3,532,080.70. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the transaction, the chief financial officer now owns 62,969 shares in the company, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

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.