EverSource Wealth Advisors LLC Has $358,000 Position in American Tower Co. (NYSE:AMT)

EverSource Wealth Advisors LLC grew its holdings in shares of American Tower Co. (NYSE:AMT) by 92.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,953 shares of the real estate investment trust’s stock after acquiring an additional 939 shares during the period. EverSource Wealth Advisors LLC’s holdings in American Tower were worth $358,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Roxbury Financial LLC acquired a new stake in American Tower during the 4th quarter worth about $32,000. Legacy Investment Solutions LLC acquired a new stake in American Tower during the 3rd quarter worth about $34,000. Activest Wealth Management grew its holdings in American Tower by 431.0% during the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 125 shares during the period. Bank of Jackson Hole Trust acquired a new stake in American Tower during the 4th quarter worth about $46,000. Finally, Versant Capital Management Inc grew its stake in shares of American Tower by 113.9% in the 4th quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 139 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMT has been the subject of several research reports. Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Scotiabank reduced their target price on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research note on Thursday, January 23rd. The Goldman Sachs Group reduced their target price on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Morgan Stanley reduced their target price on American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Finally, Wells Fargo & Company reduced their target price on American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, American Tower has an average rating of “Moderate Buy” and an average price target of $226.29.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is owned by corporate insiders.

American Tower Price Performance

AMT opened at $211.02 on Friday. The company has a market capitalization of $98.64 billion, a price-to-earnings ratio of 89.04, a PEG ratio of 1.29 and a beta of 0.85. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a 50-day moving average price of $192.33 and a 200-day moving average price of $205.96. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56.

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. Equities analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 annualized dividend and a yield of 3.22%. This is a boost from American Tower’s previous quarterly dividend of $1.62. American Tower’s payout ratio is currently 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.