Pines Wealth Management LLC Makes New Investment in American Tower Co. (NYSE:AMT)

Pines Wealth Management LLC acquired a new stake in American Tower Co. (NYSE:AMT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 1,254 shares of the real estate investment trust’s stock, valued at approximately $218,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. CX Institutional boosted its position in American Tower by 2.9% during the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock valued at $450,000 after buying an additional 54 shares during the period. O Brien Greene & Co. Inc boosted its holdings in American Tower by 2.3% during the 2nd quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock valued at $481,000 after acquiring an additional 55 shares during the period. Palumbo Wealth Management LLC grew its position in American Tower by 1.6% during the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock worth $864,000 after acquiring an additional 57 shares during the last quarter. Rehmann Capital Advisory Group increased its stake in American Tower by 4.2% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock worth $332,000 after purchasing an additional 58 shares during the period. Finally, Sivia Capital Partners LLC lifted its position in American Tower by 5.3% in the third quarter. Sivia Capital Partners LLC now owns 1,179 shares of the real estate investment trust’s stock valued at $274,000 after purchasing an additional 59 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

Shares of AMT stock opened at $180.31 on Thursday. The business’s fifty day moving average is $193.58 and its 200 day moving average is $211.68. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a market cap of $84.26 billion, a price-to-earnings ratio of 76.08, a PEG ratio of 1.31 and a beta of 0.84. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the previous year, the business earned $2.58 earnings per share. The firm’s revenue was down 10.5% compared to the same quarter last year. Research analysts expect that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.59%. American Tower’s payout ratio is 273.42%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on AMT shares. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price objective on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $245.00 to $230.00 in a report on Thursday, October 10th. Barclays reduced their price target on American Tower from $251.00 to $215.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Mizuho dropped their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $230.67.

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.