Paragon Private Wealth Management LLC Grows Stock Holdings in American Tower Co. (NYSE:AMT)

Paragon Private Wealth Management LLC grew its holdings in shares of American Tower Co. (NYSE:AMT) by 1.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,365 shares of the real estate investment trust’s stock after purchasing an additional 76 shares during the period. Paragon Private Wealth Management LLC’s holdings in American Tower were worth $1,167,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in AMT. Assetmark Inc. increased its position in shares of American Tower by 227.0% during the third quarter. Assetmark Inc. now owns 2,364 shares of the real estate investment trust’s stock valued at $550,000 after acquiring an additional 1,641 shares in the last quarter. Lindbrook Capital LLC increased its position in shares of American Tower by 3.1% during the third quarter. Lindbrook Capital LLC now owns 3,936 shares of the real estate investment trust’s stock valued at $915,000 after acquiring an additional 119 shares in the last quarter. Essex Savings Bank increased its position in shares of American Tower by 18.9% during the third quarter. Essex Savings Bank now owns 1,312 shares of the real estate investment trust’s stock valued at $305,000 after acquiring an additional 209 shares in the last quarter. Atria Investments Inc increased its position in shares of American Tower by 9.6% during the third quarter. Atria Investments Inc now owns 44,730 shares of the real estate investment trust’s stock valued at $10,402,000 after acquiring an additional 3,934 shares in the last quarter. Finally, XML Financial LLC increased its position in shares of American Tower by 11.1% during the third quarter. XML Financial LLC now owns 1,836 shares of the real estate investment trust’s stock valued at $427,000 after acquiring an additional 184 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMT has been the subject of several analyst reports. The Goldman Sachs Group reduced their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Morgan Stanley cut their target price on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. Citigroup cut their target price on shares of American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Finally, Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $225.21.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the transaction, the chief financial officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is owned by corporate insiders.

American Tower Trading Up 2.7 %

Shares of AMT stock opened at $212.49 on Monday. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The firm has a fifty day moving average price of $189.60 and a 200-day moving average price of $206.21. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market cap of $99.29 billion, a price-to-earnings ratio of 89.66, a PEG ratio of 1.29 and a beta of 0.85.

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. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter in the previous year, the company earned $2.29 EPS. American Tower’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, equities analysts predict that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be paid a dividend of $1.70 per share. This is a boost from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.20%. American Tower’s payout ratio is 134.72%.

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.