Grant Private Wealth Management Inc Invests $260,000 in American Tower Co. (NYSE:AMT)

Grant Private Wealth Management Inc purchased a new stake in American Tower Co. (NYSE:AMT) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,386 shares of the real estate investment trust’s stock, valued at approximately $260,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Glenview Trust co raised its position in shares of 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 valued at $1,294,000 after buying an additional 54 shares in the last quarter. Rehmann Capital Advisory Group increased its stake in American Tower by 4.2% in the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock valued at $332,000 after acquiring an additional 58 shares during the last quarter. Precedent Wealth Partners LLC increased its stake in American Tower by 4.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock valued at $235,000 after acquiring an additional 58 shares during the last quarter. Resonant Capital Advisors LLC raised its position in American Tower by 5.8% during the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock valued at $206,000 after purchasing an additional 61 shares in the last quarter. Finally, Calamos Wealth Management LLC lifted its stake in American Tower by 2.9% during the fourth quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust’s stock worth $398,000 after purchasing an additional 61 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the sale, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.

American Tower Trading Down 0.8 %

Shares of AMT stock opened at $217.71 on Thursday. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a market cap of $101.77 billion, a price-to-earnings ratio of 91.86, a PEG ratio of 1.29 and a beta of 0.85. The stock has a 50-day moving average of $200.67 and a 200-day moving average of $204.16.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.83. The business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.29 EPS. On average, equities research analysts forecast that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be given a dividend of $1.70 per share. The ex-dividend date is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a yield of 3.12%. This is a boost from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio is 141.37%.

Analyst Ratings Changes

A number of research firms have recently commented on AMT. Citizens Jmp raised American Tower to a “strong-buy” rating in a report on Monday, January 27th. Barclays lifted their target price on American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Citigroup increased their target price on shares of American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, March 10th. The Goldman Sachs Group decreased their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, Wells Fargo & Company raised shares of American Tower from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $210.00 to $230.00 in a research note on Monday, March 17th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $232.07.

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.