Western Wealth Management LLC Acquires 1,801 Shares of American Tower Co. (NYSE:AMT)

Western Wealth Management LLC grew its holdings in American Tower Co. (NYSE:AMT) by 27.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,316 shares of the real estate investment trust’s stock after acquiring an additional 1,801 shares during the period. Western Wealth Management LLC’s holdings in American Tower were worth $1,795,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Personal Capital Advisors Corp grew its position in American Tower by 1.7% during the 1st quarter. Personal Capital Advisors Corp now owns 2,510 shares of the real estate investment trust’s stock worth $631,000 after purchasing an additional 43 shares during the last quarter. Lumature Wealth Partners LLC raised its position in American Tower by 40.3% during the first quarter. Lumature Wealth Partners LLC now owns 174 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 50 shares during the period. Alera Investment Advisors LLC raised its position in American Tower by 1.3% during the fourth quarter. Alera Investment Advisors LLC now owns 4,105 shares of the real estate investment trust’s stock worth $886,000 after acquiring an additional 51 shares during the period. McIlrath & Eck LLC raised its position in American Tower by 18.5% during the fourth quarter. McIlrath & Eck LLC now owns 333 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 52 shares during the period. Finally, Golden State Equity Partners raised its position in American Tower by 7.0% during the first quarter. Golden State Equity Partners now owns 806 shares of the real estate investment trust’s stock worth $202,000 after acquiring an additional 53 shares during the period. 92.69% of the stock is currently owned by institutional investors.

American Tower Trading Up 0.8 %

NYSE:AMT traded up $1.38 on Friday, reaching $172.38. The stock had a trading volume of 697,513 shares, compared to its average volume of 2,394,489. The company has a market cap of $80.39 billion, a price-to-earnings ratio of 53.77, a P/E/G ratio of 1.36 and a beta of 0.67. 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’s fifty day moving average is $192.37 and its two-hundred day moving average is $193.43. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $219.10.

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

American Tower Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be issued 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 dividend yield of 3.76%. American Tower’s payout ratio is currently 203.77%.

Analyst Ratings Changes

A number of brokerages have commented on AMT. Barclays lifted their target price on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Mizuho began coverage on shares of American Tower in a research report on Monday, April 8th. They set a “neutral” rating and a $205.00 price target for the company. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Morgan Stanley lifted their price target on shares of American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, JPMorgan Chase & Co. dropped their price objective 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. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $217.36.

Insider Transactions at American Tower

In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction that occurred 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 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Pamela D. A. Reeve sold 5,054 shares of the firm’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 transaction, the director now directly owns 18,545 shares in the company, valued at $3,532,080.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was 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 owns 62,969 shares in the company, valued at $12,953,352.99. 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.