4,833 Shares in American Tower Co. (NYSE:AMT) Purchased by Modern Wealth Management LLC

Modern Wealth Management LLC bought a new stake in American Tower Co. (NYSE:AMT) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 4,833 shares of the real estate investment trust’s stock, valued at approximately $918,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Partners Group Holding AG increased its stake in American Tower by 8.3% during the 4th quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust’s stock worth $69,438,000 after buying an additional 28,988 shares during the period. Nordea Investment Management AB increased its position in shares of American Tower by 28.5% during the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after acquiring an additional 314,769 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of American Tower in the third quarter valued at $1,156,000. TigerOak Management L.L.C. acquired a new position in American Tower during the 4th quarter worth $1,102,000. Finally, Brookstone Capital Management increased its holdings in American Tower by 29.0% during the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock worth $1,629,000 after purchasing an additional 1,995 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Stock Up 0.2 %

Shares of NYSE:AMT opened at $209.91 on Thursday. 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 stock has a market cap of $98.12 billion, a P/E ratio of 88.57, a P/E/G ratio of 1.29 and a beta of 0.85. 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 $197.91 and a 200 day moving average price of $204.94.

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 the consensus estimate 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 business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.29 earnings per share. Sell-side analysts predict that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend is Friday, April 11th. 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

AMT has been the subject of a number of analyst reports. The Goldman Sachs Group lowered their price objective on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Mizuho dropped their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Morgan Stanley dropped their target price on American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Finally, Wells Fargo & Company raised American Tower from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $210.00 to $230.00 in a research report on Monday, March 17th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, American Tower presently has an average rating of “Buy” and a consensus price target of $229.43.

Insider Buying and Selling

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were 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 owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

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.