Great Valley Advisor Group Inc. Acquires 940 Shares of American Tower Co. (NYSE:AMT)

Great Valley Advisor Group Inc. boosted its stake in shares of American Tower Co. (NYSE:AMT) by 3.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,344 shares of the real estate investment trust’s stock after acquiring an additional 940 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in American Tower were worth $6,119,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brookstone Capital Management lifted its holdings in American Tower by 4.4% during the 3rd quarter. Brookstone Capital Management now owns 5,628 shares of the real estate investment trust’s stock worth $897,000 after buying an additional 237 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new position in shares of American Tower during the third quarter valued at $401,000. Mission Wealth Management LP boosted its holdings in American Tower by 10.0% in the third quarter. Mission Wealth Management LP now owns 2,086 shares of the real estate investment trust’s stock valued at $343,000 after acquiring an additional 189 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in American Tower by 1.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 238,865 shares of the real estate investment trust’s stock worth $39,281,000 after purchasing an additional 3,459 shares during the period. Finally, Stonegate Investment Group LLC raised its holdings in American Tower by 12.0% during the 3rd quarter. Stonegate Investment Group LLC now owns 5,377 shares of the real estate investment trust’s stock worth $884,000 after purchasing an additional 574 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Up 3.1 %

NYSE:AMT opened at $176.84 on Thursday. The company has a quick ratio of 0.69, a current ratio of 0.85 and a debt-to-equity ratio of 3.39. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $219.10. The company has a market cap of $82.47 billion, a P/E ratio of 40.00, a price-to-earnings-growth ratio of 1.35 and a beta of 0.71. The business has a 50 day moving average price of $189.49 and a two-hundred day moving average price of $194.40.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). American Tower had a net margin of 18.42% and a return on equity of 18.45%. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same period last year, the business posted $2.54 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, analysts expect that American Tower Co. will post 9.94 EPS for the current fiscal year.

American Tower Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $6.48 annualized dividend and a yield of 3.66%. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Pamela D. A. Reeve sold 5,054 shares of the business’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 document filed with the SEC, which is available at this hyperlink. Also, CFO Rodney M. Smith sold 11,510 shares of American Tower 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 sale, the chief financial officer now owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AMT shares. Scotiabank lowered their price target on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. lowered their target price 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. Morgan Stanley increased their price target on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Mizuho initiated coverage on American Tower in a research note on Monday, April 8th. They set a “neutral” rating and a $205.00 price objective for the company. Finally, BMO Capital Markets lowered their price target on American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $221.91.

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.