PYA Waltman Capital LLC Has $1.66 Million Stock Holdings in American Tower Co. (NYSE:AMT)

PYA Waltman Capital LLC raised its holdings in American Tower Co. (NYSE:AMT) by 8.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 7,689 shares of the real estate investment trust’s stock after acquiring an additional 577 shares during the quarter. PYA Waltman Capital LLC’s holdings in American Tower were worth $1,660,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in American Tower by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 60,930,583 shares of the real estate investment trust’s stock valued at $10,020,034,000 after acquiring an additional 196,942 shares during the period. Wellington Management Group LLP increased its position in shares of American Tower by 5.6% during the third quarter. Wellington Management Group LLP now owns 12,984,052 shares of the real estate investment trust’s stock worth $2,135,227,000 after buying an additional 691,934 shares during the period. Morgan Stanley increased its position in shares of American Tower by 3.7% during the third quarter. Morgan Stanley now owns 7,269,957 shares of the real estate investment trust’s stock worth $1,195,545,000 after buying an additional 258,030 shares during the period. FMR LLC increased its position in shares of American Tower by 2.1% during the third quarter. FMR LLC now owns 6,628,436 shares of the real estate investment trust’s stock worth $1,090,046,000 after buying an additional 138,303 shares during the period. Finally, Invesco Ltd. increased its position in shares of American Tower by 1.0% during the third quarter. Invesco Ltd. now owns 5,711,667 shares of the real estate investment trust’s stock worth $939,284,000 after buying an additional 56,598 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Up 1.4 %

Shares of AMT stock traded up $2.35 on Wednesday, hitting $173.91. The stock had a trading volume of 540,648 shares, compared to its average volume of 2,410,200. The business has a 50 day moving average of $189.71 and a 200 day moving average of $194.53. The stock has a market cap of $81.10 billion, a price-to-earnings ratio of 53.95, a price-to-earnings-growth ratio of 1.38 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 12-month low of $154.58 and a 12-month high of $219.10.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.47). American Tower had a net margin of 13.31% and a return on equity of 12.80%. The firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter in the prior year, the company earned $2.54 EPS. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, analysts expect that American Tower Co. will post 9.94 EPS for the current year.

American Tower Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were issued a dividend of $1.62 per share. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a yield of 3.73%. American Tower’s dividend payout ratio (DPR) is presently 203.77%.

Insider Buying and Selling

In other news, CFO Rodney M. Smith sold 11,510 shares of American Tower 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 owns 62,969 shares in the company, valued at $12,953,352.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the completion of the transaction, the chief financial officer now 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. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AMT has been the subject of several recent analyst reports. Barclays increased their price objective on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Morgan Stanley increased their target price on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Raymond James raised shares of American Tower from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $226.00 to $248.00 in a research note on Wednesday. BMO Capital Markets cut their target price on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Finally, Mizuho began coverage on shares of American Tower in a research note on Monday, April 8th. They set a “neutral” rating and a $205.00 target price on the stock. Three investment 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $221.27.

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.