Crowley Wealth Management Inc. Takes $37,000 Position in American Tower Co. (NYSE:AMT)

Crowley Wealth Management Inc. acquired a new stake in shares of American Tower Co. (NYSE:AMT) in the fourth quarter, Holdings Channel reports. The fund acquired 200 shares of the real estate investment trust’s stock, valued at approximately $37,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB boosted its position in American Tower by 28.5% during the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock valued at $260,743,000 after purchasing an additional 314,769 shares during the period. Partners Group Holding AG boosted its position 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 valued at $69,438,000 after purchasing an additional 28,988 shares during the period. Point72 Hong Kong Ltd acquired a new position in American Tower during the 3rd quarter valued at approximately $1,156,000. TigerOak Management L.L.C. acquired a new position in American Tower during the 4th quarter valued at approximately $1,102,000. Finally, Brookstone Capital Management boosted its position 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 valued at $1,629,000 after purchasing an additional 1,995 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AMT. Mizuho reduced their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Wells Fargo & Company upgraded American Tower from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $210.00 to $230.00 in a research report on Monday, March 17th. The Goldman Sachs Group reduced their price target 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. BMO Capital Markets boosted their price target on American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Finally, Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, American Tower presently has a consensus rating of “Buy” and an average price target of $229.43.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the sale, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by insiders.

American Tower Trading Up 1.0 %

Shares of American Tower stock opened at $216.41 on Monday. The business has a fifty day simple moving average of $195.99 and a 200-day simple moving average of $205.24. The firm has a market cap of $101.16 billion, a price-to-earnings ratio of 91.31, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.29 earnings per share. On average, equities analysts forecast that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, April 11th. This is a positive change from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.14%. American Tower’s payout ratio is 141.37%.

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.