BIP Wealth LLC Acquires 65 Shares of American Tower Co. (NYSE:AMT)

BIP Wealth LLC increased its holdings in American Tower Co. (NYSE:AMT) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,124 shares of the real estate investment trust’s stock after purchasing an additional 65 shares during the quarter. BIP Wealth LLC’s holdings in American Tower were worth $1,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

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

American Tower Stock Performance

NYSE:AMT traded down $0.83 during trading hours on Wednesday, reaching $173.35. The company had a trading volume of 2,873,211 shares, compared to its average volume of 2,437,123. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.29. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $219.10. The firm has a market cap of $80.84 billion, a price-to-earnings ratio of 54.51, a PEG ratio of 1.36 and a beta of 0.67. The firm’s 50 day moving average price is $190.93 and its 200-day moving average price is $194.05.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). American Tower had a return on equity of 12.80% and a net margin of 13.31%. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same period last year, the firm posted $2.34 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, analysts forecast that American Tower Co. will post 9.94 EPS for the current year.

American Tower Cuts Dividend

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

Insider Activity

In other news, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were 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 available at this hyperlink. In related news, CFO Rodney M. Smith sold 11,510 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $12,953,352.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Pamela D. A. Reeve sold 5,054 shares of the company’s stock in a transaction on 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 directly owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

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.