Grant Private Wealth Management Inc Purchases Shares of 1,386 American Tower Co. (NYSE:AMT)

Grant Private Wealth Management Inc purchased a new position in shares of American Tower Co. (NYSE:AMT) during the fourth quarter, HoldingsChannel reports. The firm purchased 1,386 shares of the real estate investment trust’s stock, valued at approximately $260,000.

A number of other institutional investors also recently modified their holdings of AMT. Legacy Investment Solutions LLC bought a new position in shares of American Tower in the 3rd quarter worth $34,000. Graney & King LLC bought a new stake in shares of American Tower during the fourth quarter worth about $32,000. Roxbury Financial LLC bought a new stake in American Tower during the 4th quarter worth approximately $32,000. Crowley Wealth Management Inc. purchased a new stake in shares of American Tower in the fourth quarter worth approximately $37,000. Finally, Hobbs Group Advisors LLC raised its stake in shares of American Tower by 51.0% in the third quarter. Hobbs Group Advisors LLC now owns 222 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 75 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction dated 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 owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AMT has been the topic of several analyst reports. BMO Capital Markets lifted their target price on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Wells Fargo & Company upgraded shares of American Tower from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $210.00 to $230.00 in a report on Monday, March 17th. JMP Securities began coverage on shares of American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 price target on the stock. Citigroup increased their price objective on shares of American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Finally, Mizuho cut their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $232.07.

American Tower Stock Down 0.8 %

AMT stock opened at $217.71 on Thursday. The stock has a fifty day moving average of $200.67 and a 200-day moving average of $204.16. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company has a market capitalization of $101.77 billion, a price-to-earnings ratio of 91.86, a PEG ratio of 1.29 and a beta of 0.85. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last posted 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 firm 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 company’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company earned $2.29 earnings per share. As a group, equities research analysts predict that American Tower Co. will post 10.14 earnings per share 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 issued a $1.70 dividend. 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 3.12%. The ex-dividend date is Friday, April 11th. American Tower’s dividend payout ratio (DPR) is presently 141.37%.

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.