Evernest Financial Advisors LLC Has $341,000 Holdings in American Tower Corporation (NYSE:AMT)

Evernest Financial Advisors LLC grew its position in American Tower Corporation (NYSE:AMT) by 16.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,569 shares of the real estate investment trust’s stock after purchasing an additional 216 shares during the period. Evernest Financial Advisors LLC’s holdings in American Tower were worth $341,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in AMT. Cohen & Steers Inc. grew its holdings in American Tower by 21.8% in the 4th quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust’s stock valued at $3,516,890,000 after buying an additional 3,437,602 shares in the last quarter. Capital Research Global Investors boosted its position in shares of American Tower by 66.5% in the fourth quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust’s stock valued at $1,570,547,000 after acquiring an additional 3,421,413 shares during the period. Capital World Investors grew its stake in shares of American Tower by 160.6% in the fourth quarter. Capital World Investors now owns 4,920,100 shares of the real estate investment trust’s stock valued at $902,396,000 after acquiring an additional 3,032,005 shares in the last quarter. GAMMA Investing LLC increased its position in American Tower by 23,627.3% during the first quarter. GAMMA Investing LLC now owns 1,701,957 shares of the real estate investment trust’s stock worth $370,346,000 after acquiring an additional 1,694,784 shares during the period. Finally, Bessemer Group Inc. raised its stake in American Tower by 272.0% in the 1st quarter. Bessemer Group Inc. now owns 1,136,903 shares of the real estate investment trust’s stock worth $247,390,000 after purchasing an additional 831,247 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Trading Down 0.5%

Shares of American Tower stock opened at $208.97 on Thursday. The firm’s 50 day moving average is $218.61 and its 200 day moving average is $210.81. The firm has a market capitalization of $97.83 billion, a PE ratio of 75.99, a price-to-earnings-growth ratio of 1.16 and a beta of 0.82. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $243.56. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the previous year, the firm posted $2.79 earnings per share. The company’s revenue was down 9.4% on a year-over-year basis. Equities research analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 13th were issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Friday, June 13th. American Tower’s payout ratio is 247.27%.

Insider Buying and Selling at American Tower

In related news, CEO Juan Font sold 720 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value of $149,997.60. Following the completion of the transaction, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. This trade represents a 2.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

AMT has been the topic of a number of analyst reports. Raymond James Financial set a $250.00 target price on shares of American Tower and gave the stock a “strong-buy” rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. raised their price objective on American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. HSBC downgraded American Tower from a “buy” rating to a “hold” rating and set a $235.00 target price for the company. in a research report on Wednesday, July 30th. JMP Securities raised their price target on American Tower from $248.00 to $260.00 and gave the stock a “market outperform” rating in a research report on Wednesday, April 30th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of American Tower in a research report on Tuesday, July 29th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and an average target price of $243.88.

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.