Tyche Wealth Partners LLC Invests $454,000 in American Tower Co. (NYSE:AMT)

Tyche Wealth Partners LLC purchased a new stake in American Tower Co. (NYSE:AMT) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,101 shares of the real estate investment trust’s stock, valued at approximately $454,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. purchased a new stake in shares of American Tower during the third quarter worth about $27,000. Emerald Advisers LLC acquired a new position in shares of American Tower during the third quarter valued at approximately $29,000. Thompson Investment Management Inc. purchased a new position in shares of American Tower in the fourth quarter valued at approximately $29,000. Pinnacle Holdings LLC acquired a new stake in shares of American Tower in the first quarter worth approximately $29,000. Finally, Eagle Bay Advisors LLC purchased a new stake in shares of American Tower during the second quarter worth approximately $30,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $3,532,080.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Rodney M. Smith sold 11,510 shares of the business’s 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 directly owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction that occurred 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 directly owns 18,545 shares in the company, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Morgan Stanley boosted their price target on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research report on Monday. Barclays increased their price objective on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. JPMorgan Chase & Co. dropped their price target on 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, Mizuho assumed coverage on American Tower in a report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price target for the company. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $217.36.

American Tower Trading Down 3.3 %

NYSE:AMT traded down $5.91 during trading hours on Wednesday, reaching $172.21. 3,848,820 shares of the stock were exchanged, compared to its average volume of 2,378,524. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $219.10. The business has a 50-day moving average of $193.26 and a two-hundred day moving average of $193.74. The company has a market capitalization of $80.31 billion, a price-to-earnings ratio of 54.15, a PEG ratio of 1.24 and a beta of 0.67. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($1.16). The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.74 billion. American Tower had a return on equity of 12.80% and a net margin of 13.31%. American Tower’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.34 EPS. On average, equities analysts predict that American Tower Co. will post 10.05 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. 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 3.76%. The ex-dividend date of this dividend is Thursday, April 11th. American Tower’s dividend payout ratio (DPR) is currently 203.77%.

American Tower 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.