200 Shares in American Tower Co. (NYSE:AMT) Purchased by Crowley Wealth Management Inc.

Crowley Wealth Management Inc. acquired a new position in shares of American Tower Co. (NYSE:AMT) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 200 shares of the real estate investment trust’s stock, valued at approximately $37,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMT. Glenview Trust co boosted its stake in American Tower by 0.8% in the 4th quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust’s stock worth $1,294,000 after buying an additional 54 shares during the last quarter. Rehmann Capital Advisory Group boosted its stake in American Tower by 4.2% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock worth $332,000 after buying an additional 58 shares during the last quarter. Precedent Wealth Partners LLC boosted its stake in American Tower by 4.7% in the 4th quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock worth $235,000 after buying an additional 58 shares during the last quarter. Resonant Capital Advisors LLC boosted its stake in American Tower by 5.8% in the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock worth $206,000 after buying an additional 61 shares during the last quarter. Finally, Calamos Wealth Management LLC boosted its stake in American Tower by 2.9% in the 4th quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust’s stock worth $398,000 after buying an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is owned by company insiders.

American Tower Price Performance

AMT stock opened at $216.41 on Monday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The stock’s 50 day moving average is $195.99 and its two-hundred day moving average is $205.24. The company has a market capitalization of $101.16 billion, a PE ratio of 91.31, a P/E/G ratio of 1.29 and a beta of 0.85.

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 (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the previous year, the business earned $2.29 EPS. American Tower’s revenue for the quarter was up 3.7% compared to the same quarter last year. Analysts predict that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The firm also recently disclosed 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 an increase from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a yield of 3.14%. American Tower’s payout ratio is currently 141.37%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AMT. Wells Fargo & Company raised American Tower from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $210.00 to $230.00 in a research note on Monday, March 17th. Citizens Jmp raised American Tower to a “strong-buy” rating in a research note on Monday, January 27th. The Goldman Sachs Group reduced their price objective on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Citigroup lifted their price objective on American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Finally, Barclays lifted their price objective on American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $229.43.

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.