RWA Wealth Partners LLC Takes Position in American Tower Co. (NYSE:AMT)

RWA Wealth Partners LLC acquired a new stake in American Tower Co. (NYSE:AMT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,381 shares of the real estate investment trust’s stock, valued at approximately $730,000.

Other institutional investors have also modified their holdings of the company. Thompson Investment Management Inc. bought a new stake in shares of American Tower during the 4th quarter worth approximately $29,000. McClarren Financial Advisors Inc. bought a new stake in shares of American Tower during the 3rd quarter worth approximately $27,000. Emerald Advisers LLC bought a new stake in shares of American Tower during the 3rd quarter worth approximately $29,000. Valley National Advisers Inc. lifted its stake in shares of American Tower by 200.0% during the 4th quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 118 shares during the last quarter. Finally, Oakworth Capital Inc. lifted its stake in shares of American Tower by 157.9% during the 4th quarter. Oakworth Capital Inc. now owns 196 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 120 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AMT has been the subject of a number of research analyst reports. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Morgan Stanley raised their price objective on American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. BMO Capital Markets reduced their price objective on American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Mizuho initiated coverage on American Tower in a report on Monday, April 8th. They set a “neutral” rating and a $205.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $217.36.

American Tower Stock Down 0.5 %

American Tower stock opened at $173.35 on Thursday. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $80.84 billion, a price-to-earnings ratio of 54.51, a PEG ratio of 1.38 and a beta of 0.67. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10. The business has a fifty day moving average price of $190.93 and a 200-day moving average price of $194.05.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). The business had revenue of $2.79 billion during 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%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.34 EPS. Equities research analysts forecast that American Tower Co. will post 9.94 EPS for the current fiscal year.

American Tower Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be given a dividend of $1.62 per share. The ex-dividend date is Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a yield of 3.74%. American Tower’s dividend payout ratio is currently 203.77%.

Insiders Place Their Bets

In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of American Tower 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 sale, the director now owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of American Tower 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 sale, the director now owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Rodney M. Smith sold 11,510 shares of the business’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 completion of the transaction, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

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.