American Tower Co. (NYSE:AMT) is Naviter Wealth LLC’s 10th Largest Position

Naviter Wealth LLC lifted its stake in shares of American Tower Co. (NYSE:AMT) by 46.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 39,138 shares of the real estate investment trust’s stock after acquiring an additional 12,410 shares during the quarter. American Tower makes up about 1.7% of Naviter Wealth LLC’s investment portfolio, making the stock its 10th biggest position. Naviter Wealth LLC’s holdings in American Tower were worth $8,516,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Oak Thistle LLC grew its stake in shares of American Tower by 23.5% during the 3rd quarter. Oak Thistle LLC now owns 2,384 shares of the real estate investment trust’s stock worth $392,000 after purchasing an additional 454 shares during the period. U.S. Capital Wealth Advisors LLC grew its stake in shares of American Tower by 1.9% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 5,975 shares of the real estate investment trust’s stock worth $983,000 after purchasing an additional 112 shares during the period. Valeo Financial Advisors LLC grew its stake in shares of American Tower by 13.9% during the 3rd quarter. Valeo Financial Advisors LLC now owns 3,965 shares of the real estate investment trust’s stock worth $652,000 after purchasing an additional 483 shares during the period. Manning & Napier Group LLC grew its stake in shares of American Tower by 24.8% during the 3rd quarter. Manning & Napier Group LLC now owns 47,973 shares of the real estate investment trust’s stock worth $7,889,000 after purchasing an additional 9,522 shares during the period. Finally, Avestar Capital LLC grew its stake in shares of American Tower by 10.0% during the 3rd quarter. Avestar Capital LLC now owns 2,258 shares of the real estate investment trust’s stock worth $371,000 after purchasing an additional 206 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on AMT. Barclays boosted their price objective on shares of 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 lowered shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Mizuho began coverage on shares of American Tower in a research report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price objective on the stock. BMO Capital Markets decreased their price objective on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Finally, Morgan Stanley boosted their price objective on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $217.36.

American Tower Stock Performance

AMT traded up $2.41 on Monday, hitting $174.10. The company had a trading volume of 1,055,672 shares, compared to its average volume of 2,405,524. The company’s fifty day moving average price is $190.29 and its 200 day moving average price is $194.42. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market cap of $81.19 billion, a price-to-earnings ratio of 53.99, a price-to-earnings-growth ratio of 1.36 and a beta of 0.67.

American Tower (NYSE:AMT) last released its quarterly earnings data 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 firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.34 earnings per share. Equities analysts predict that American Tower Co. will post 9.94 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.72%. The ex-dividend date was Thursday, April 11th. American Tower’s dividend payout ratio is 203.77%.

Insider Activity at American Tower

In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $3,532,080.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $3,532,080.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction 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 directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. 0.18% of the stock is owned by 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.