Insight Wealth Strategies LLC Boosts Stake in American Tower Co. (NYSE:AMT)

Insight Wealth Strategies LLC lifted its holdings in shares of American Tower Co. (NYSE:AMT) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,051 shares of the real estate investment trust’s stock after acquiring an additional 211 shares during the quarter. Insight Wealth Strategies LLC’s holdings in American Tower were worth $2,027,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. CX Institutional raised its position in shares of American Tower by 2.9% in the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock valued at $450,000 after purchasing an additional 54 shares in the last quarter. O Brien Greene & Co. Inc raised its holdings in American Tower by 2.3% in the second 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 in the last quarter. Palumbo Wealth Management LLC boosted its stake 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 valued at $864,000 after acquiring an additional 57 shares during the last quarter. Rehmann Capital Advisory Group increased its position in shares of 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 last quarter. Finally, Sivia Capital Partners LLC raised its stake in shares of American Tower by 5.3% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of NYSE:AMT traded down $1.58 during trading hours on Monday, hitting $180.98. The stock had a trading volume of 1,255,215 shares, compared to its average volume of 2,048,215. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock’s fifty day simple moving average is $198.67 and its 200 day simple moving average is $212.49. The firm has a market capitalization of $84.57 billion, a price-to-earnings ratio of 76.36, a PEG ratio of 1.31 and a beta of 0.84. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company’s revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.58 EPS. Sell-side analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be paid 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 yield of 3.58%. American Tower’s payout ratio is 273.42%.

Analyst Ratings Changes

Several brokerages recently weighed in on AMT. Scotiabank lowered their price objective on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 30th. The Goldman Sachs Group lowered their price target on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. BMO Capital Markets reduced their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Finally, Mizuho raised their price target on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $235.08.

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.