SVB Wealth LLC Makes New $1.80 Million Investment in American Tower Co. (NYSE:AMT)

SVB Wealth LLC purchased a new position in shares of American Tower Co. (NYSE:AMT) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 9,813 shares of the real estate investment trust’s stock, valued at approximately $1,800,000.

Several other large investors have also made changes to their positions in the company. Yelin Lapidot Holdings Management Ltd. boosted its position in shares of American Tower by 84.3% during the 4th quarter. Yelin Lapidot Holdings Management Ltd. now owns 2,046 shares of the real estate investment trust’s stock worth $375,000 after acquiring an additional 936 shares in the last quarter. Linscomb Wealth Inc. boosted its position in shares of American Tower by 1.0% during the 4th quarter. Linscomb Wealth Inc. now owns 51,761 shares of the real estate investment trust’s stock worth $9,493,000 after acquiring an additional 498 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of American Tower during the 4th quarter worth approximately $43,193,000. FUKOKU MUTUAL LIFE INSURANCE Co boosted its position in shares of American Tower by 11.9% during the 4th quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 2,550 shares of the real estate investment trust’s stock worth $468,000 after acquiring an additional 271 shares in the last quarter. Finally, Lineweaver Wealth Advisors LLC boosted its position in shares of American Tower by 11.3% during the 4th quarter. Lineweaver Wealth Advisors LLC now owns 4,344 shares of the real estate investment trust’s stock worth $798,000 after acquiring an additional 441 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Price Performance

AMT stock opened at $205.61 on Monday. The company has a fifty day moving average price of $187.09 and a 200-day moving average price of $206.58. The company has a market capitalization of $96.08 billion, a P/E ratio of 86.76, a PEG ratio of 1.29 and a beta of 0.84. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping 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 business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter last year, the firm earned $2.29 earnings per share. American Tower’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, equities analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio is presently 134.72%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AMT shares. Wells Fargo & Company reduced their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Mizuho dropped their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. BMO Capital Markets increased their price objective on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a research note on Thursday. Finally, Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, American Tower has a consensus rating of “Moderate Buy” and a consensus target price of $225.21.

Insider Buying and Selling

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 completion of the transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by insiders.

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.