Regent Peak Wealth Advisors LLC Buys New Stake in American Tower Co. (NYSE:AMT)

Regent Peak Wealth Advisors LLC bought a new stake in American Tower Co. (NYSE:AMTFree Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,056 shares of the real estate investment trust’s stock, valued at approximately $228,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Personal Capital Advisors Corp boosted its position in American Tower by 1.7% in the 1st quarter. Personal Capital Advisors Corp now owns 2,510 shares of the real estate investment trust’s stock valued at $631,000 after buying an additional 43 shares during the period. Lumature Wealth Partners LLC boosted its position in American Tower by 40.3% in the 1st quarter. Lumature Wealth Partners LLC now owns 174 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 50 shares during the period. McIlrath & Eck LLC boosted its position in American Tower by 18.5% in the 4th quarter. McIlrath & Eck LLC now owns 333 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 52 shares during the period. Golden State Equity Partners boosted its position in American Tower by 7.0% in the 1st quarter. Golden State Equity Partners now owns 806 shares of the real estate investment trust’s stock valued at $202,000 after buying an additional 53 shares during the period. Finally, GeoWealth Management LLC boosted its position in American Tower by 17.8% in the 1st quarter. GeoWealth Management LLC now owns 358 shares of the real estate investment trust’s stock valued at $73,000 after buying an additional 54 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Price Performance

Shares of NYSE:AMT opened at $192.18 on Wednesday. The company’s fifty day moving average price is $195.53 and its 200 day moving average price is $192.61. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10. 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 firm has a market capitalization of $89.62 billion, a P/E ratio of 60.43, a P/E/G ratio of 1.34 and a beta of 0.67.

American Tower (NYSE:AMTGet Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $2.74 billion. During the same quarter in the prior year, the business earned $2.34 earnings per share. American Tower’s revenue was up 3.0% compared to the same quarter last year. As a group, sell-side analysts predict that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $6.48 annualized dividend and a yield of 3.37%. American Tower’s dividend payout ratio is currently 213.84%.

Analysts Set New Price Targets

Several brokerages have commented on AMT. BMO Capital Markets decreased their price target 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. Barclays raised their price target on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. HSBC initiated coverage on shares of American Tower in a research report on Thursday, December 14th. They set a “buy” rating and a $245.00 price objective for the company. JPMorgan Chase & Co. decreased 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, StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and an average target price of $215.90.

View Our Latest Research Report on American Tower

Insider Buying and Selling

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

American Tower Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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