Wealth Enhancement Advisory Services LLC Has $54.43 Million Stock Position in American Tower Co. (NYSE:AMT)

Wealth Enhancement Advisory Services LLC increased its position in shares of American Tower Co. (NYSE:AMT) by 12.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 279,999 shares of the real estate investment trust’s stock after purchasing an additional 30,844 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.06% of American Tower worth $54,426,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMT. Allstate Corp increased its position in American Tower by 3.1% in the fourth quarter. Allstate Corp now owns 1,750 shares of the real estate investment trust’s stock worth $378,000 after buying an additional 53 shares during the last quarter. McIlrath & Eck LLC lifted its stake in shares of American Tower by 13.9% during the 4th quarter. McIlrath & Eck LLC now owns 459 shares of the real estate investment trust’s stock valued at $99,000 after buying an additional 56 shares in the last quarter. Glassman Wealth Services boosted its holdings in American Tower by 4.7% in the 4th quarter. Glassman Wealth Services now owns 1,242 shares of the real estate investment trust’s stock worth $268,000 after buying an additional 56 shares during the period. CFO4Life Group LLC raised its holdings in American Tower by 5.4% during the 1st quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock valued at $221,000 after acquiring an additional 57 shares during the period. Finally, Choreo LLC raised its stake in shares of American Tower by 1.4% during the 4th quarter. Choreo LLC now owns 4,269 shares of the real estate investment trust’s stock valued at $922,000 after purchasing an additional 58 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the transaction, the chief executive officer now owns 61,843 shares of the company’s stock, valued at $14,223,890. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other American Tower news, EVP Sanjay Goel sold 3,504 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total value of $702,061.44. Following the completion of the transaction, the executive vice president now directly owns 28,413 shares in the company, valued at approximately $5,692,828.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the sale, the chief executive officer now owns 61,843 shares in the company, valued at approximately $14,223,890. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,227 shares of company stock valued at $8,497,458. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

AMT has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Raymond James raised shares of American Tower from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $226.00 to $248.00 in a research note on Wednesday, May 1st. The Goldman Sachs Group began coverage on American Tower in a report on Monday, July 1st. They set a “buy” rating and a $230.00 target price for the company. Barclays lowered their price objective on American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Finally, Wells Fargo & Company raised their target price on shares of American Tower from $225.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $230.42.

American Tower Stock Performance

NYSE AMT traded up $1.70 during trading hours on Wednesday, hitting $224.36. The company’s stock had a trading volume of 687,737 shares, compared to its average volume of 2,365,559. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $104.77 billion, a P/E ratio of 50.37, a price-to-earnings-growth ratio of 1.56 and a beta of 0.81. The company’s 50 day simple moving average is $205.70 and its two-hundred day simple moving average is $195.29. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $236.13.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business earned $2.46 earnings per share. As a group, sell-side analysts expect that American Tower Co. will post 10.04 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 14th were issued a $1.62 dividend. The ex-dividend date was Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a yield of 2.89%. American Tower’s dividend payout ratio is currently 146.61%.

American Tower 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.