BSW Wealth Partners Boosts Stock Holdings in American Tower Co. (NYSE:AMT)

BSW Wealth Partners boosted its stake in shares of American Tower Co. (NYSE:AMT) by 13.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,726 shares of the real estate investment trust’s stock after purchasing an additional 207 shares during the period. BSW Wealth Partners’ holdings in American Tower were worth $373,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Gateway Investment Advisers LLC increased its position in shares of American Tower by 57.7% in the fourth quarter. Gateway Investment Advisers LLC now owns 35,751 shares of the real estate investment trust’s stock worth $7,718,000 after acquiring an additional 13,074 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of American Tower by 0.5% in the third quarter. Victory Capital Management Inc. now owns 177,288 shares of the real estate investment trust’s stock worth $29,155,000 after acquiring an additional 806 shares in the last quarter. PDS Planning Inc increased its position in shares of American Tower by 16.1% in the third quarter. PDS Planning Inc now owns 1,821 shares of the real estate investment trust’s stock worth $299,000 after acquiring an additional 253 shares in the last quarter. Cyndeo Wealth Partners LLC increased its position in shares of American Tower by 3.8% in the third quarter. Cyndeo Wealth Partners LLC now owns 9,908 shares of the real estate investment trust’s stock worth $1,629,000 after acquiring an additional 365 shares in the last quarter. Finally, FAS Wealth Partners Inc. acquired a new stake in shares of American Tower in the fourth quarter worth $2,001,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AMT. BMO Capital Markets dropped their price objective on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. Barclays raised their price target on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Mizuho began coverage on shares of American Tower in a report on Monday. They set a “neutral” rating and a $205.00 price target for the company. Finally, HSBC began coverage on shares of American Tower in a report on Thursday, December 14th. They set a “buy” rating and a $245.00 price target for the company. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and a consensus price target of $214.91.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the transaction, the chief financial officer now directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the transaction, the chief financial officer now directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total transaction of $962,584.84. Following the completion of the transaction, the director now owns 18,545 shares in the company, valued at $3,532,080.70. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

American Tower Price Performance

Shares of AMT stock opened at $188.32 on Tuesday. The firm has a market cap of $87.82 billion, a P/E ratio of 59.22, a P/E/G ratio of 1.32 and a beta of 0.67. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10. The firm has a fifty day moving average of $194.88 and a two-hundred day moving average of $193.02.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($1.16). The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.74 billion. American Tower had a return on equity of 12.80% and a net margin of 13.31%. American Tower’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.34 earnings per share. As a group, research analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be given a $1.62 dividend. The ex-dividend date is Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.44%. American Tower’s payout ratio is currently 213.84%.

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.