American Tower Co. (NYSE:AMT) Shares Bought by Insight Wealth Strategies LLC

Insight Wealth Strategies LLC grew its position in American Tower Co. (NYSE:AMT) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,051 shares of the real estate investment trust’s stock after acquiring an additional 211 shares during the period. Insight Wealth Strategies LLC’s holdings in American Tower were worth $2,027,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Iowa State Bank boosted its stake in shares of American Tower by 2.1% in the fourth quarter. Iowa State Bank now owns 15,843 shares of the real estate investment trust’s stock valued at $2,906,000 after buying an additional 324 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of American Tower by 28.5% in the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock valued at $260,743,000 after purchasing an additional 314,769 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of American Tower by 4.4% in the fourth quarter. GAMMA Investing LLC now owns 7,173 shares of the real estate investment trust’s stock valued at $1,316,000 after purchasing an additional 302 shares during the period. Versant Capital Management Inc grew its position in American Tower by 113.9% during the fourth quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 139 shares during the period. Finally, First Financial Bank Trust Division increased its holdings in American Tower by 4.6% in the fourth quarter. First Financial Bank Trust Division now owns 10,344 shares of the real estate investment trust’s stock valued at $1,897,000 after buying an additional 458 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMT has been the topic of a number of research reports. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Mizuho lifted their price target on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. BMO Capital Markets lowered their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Barclays reduced their price target on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Finally, Scotiabank dropped their price objective on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $235.08.

American Tower Trading Down 0.9 %

AMT stock traded down $1.58 during midday trading on Monday, reaching $180.98. 1,255,215 shares of the company’s stock traded hands, compared to its average volume of 2,048,215. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The business has a 50-day moving average price of $198.67 and a two-hundred day moving average price of $212.49. The company has a market capitalization of $84.57 billion, a P/E ratio of 76.36, a PEG ratio of 1.31 and a beta of 0.84.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same period last year, the company posted $2.58 earnings per share. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. Equities research analysts forecast that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s dividend payout ratio is presently 273.42%.

American Tower 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.