IFG Advisory LLC Grows Stock Holdings in American Tower Co. (NYSE:AMT)

IFG Advisory LLC grew its holdings in American Tower Co. (NYSE:AMT) by 7.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,045 shares of the real estate investment trust’s stock after acquiring an additional 830 shares during the period. IFG Advisory LLC’s holdings in American Tower were worth $2,600,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in AMT. McClarren Financial Advisors Inc. acquired a new position in shares of American Tower in the 3rd quarter valued at $27,000. Emerald Advisers LLC acquired a new position in shares of American Tower in the 3rd quarter valued at $29,000. Thompson Investment Management Inc. acquired a new position in shares of American Tower in the 4th quarter valued at $29,000. Pinnacle Holdings LLC acquired a new position in shares of American Tower in the 1st quarter valued at $29,000. Finally, Eagle Bay Advisors LLC acquired a new position in shares of American Tower in the 2nd quarter valued at $30,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Price Performance

Shares of NYSE AMT traded up $3.06 during mid-day trading on Wednesday, reaching $197.16. The company’s stock had a trading volume of 440,265 shares, compared to its average volume of 2,304,895. The stock has a 50-day moving average of $196.64 and a two-hundred day moving average of $191.96. The stock has a market capitalization of $91.95 billion, a P/E ratio of 61.04, a P/E/G ratio of 1.35 and a beta of 0.68. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10.

American Tower (NYSE:AMT) last issued 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). The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. American Tower’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company earned $2.34 earnings per share. On average, equities research analysts anticipate that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Thursday, April 11th. American Tower’s dividend payout ratio is currently 213.84%.

Analyst Ratings Changes

AMT has been the subject of several analyst reports. HSBC began coverage on shares of American Tower in a research note on Thursday, December 14th. They issued a “buy” rating and a $245.00 target price for the company. BMO Capital Markets reduced 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. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. reduced their price objective on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. Finally, Barclays upped 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. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $217.55.

Insider Activity at American Tower

In related news, Director Pamela D. A. Reeve sold 5,054 shares of the company’s 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 sale, the director now owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Rodney M. Smith sold 11,510 shares of the company’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 sale, the chief financial officer now owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pamela D. A. Reeve sold 5,054 shares of the 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 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. 0.24% of the stock is currently owned by insiders.

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.