American Tower Co. (NYSE:AMT) Shares Purchased by RMR Wealth Builders

RMR Wealth Builders grew its position in shares of American Tower Co. (NYSE:AMT) by 27.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,651 shares of the real estate investment trust’s stock after buying an additional 1,231 shares during the quarter. RMR Wealth Builders’ holdings in American Tower were worth $1,220,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. McClarren Financial Advisors Inc. acquired a new stake in American Tower in the third quarter valued at about $27,000. Emerald Advisers LLC acquired a new stake in shares of American Tower in the 3rd quarter valued at approximately $29,000. Thompson Investment Management Inc. purchased a new stake in shares of American Tower in the fourth quarter valued at approximately $29,000. Brown Shipley& Co Ltd purchased a new stake in shares of American Tower during the 3rd quarter worth $35,000. Finally, Valley National Advisers Inc. lifted its stake in shares of American Tower by 200.0% in the fourth quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 118 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Price Performance

NYSE:AMT opened at $181.33 on Thursday. The firm has a market cap of $84.56 billion, a price-to-earnings ratio of 41.02, a price-to-earnings-growth ratio of 1.43 and a beta of 0.71. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $219.10. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.39. The company’s 50-day moving average is $188.86 and its two-hundred day moving average is $195.09.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.47). The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.54 EPS. Research analysts expect that American Tower Co. will post 9.96 EPS for the current year.

American Tower Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend was Thursday, April 11th. American Tower’s dividend payout ratio is currently 146.61%.

Insider Activity at American Tower

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 shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the sale, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Robert D. Hormats sold 700 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $183.50, for a total value of $128,450.00. Following the transaction, the director now directly owns 7,332 shares in the company, valued at approximately $1,345,422. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now 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. Over the last ninety days, insiders sold 17,264 shares of company stock worth $3,458,757. 0.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Scotiabank reduced their price target on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a research report on Wednesday, May 1st. Mizuho started coverage on American Tower in a report on Monday, April 8th. They set a “neutral” rating and a $205.00 price objective for the company. Raymond James raised American Tower from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $226.00 to $248.00 in a report on Wednesday, May 1st. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Finally, JPMorgan Chase & Co. lowered their price objective on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $221.91.

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.