American Tower Co. (NYSE:AMT) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its holdings in American Tower Co. (NYSE:AMT) by 0.9% during the 3rd quarter, Holdings Channel reports. The fund owned 282,469 shares of the real estate investment trust’s stock after acquiring an additional 2,470 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in American Tower were worth $65,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Cultivar Capital Inc. acquired a new stake in shares of American Tower in the 2nd quarter worth approximately $25,000. Fairscale Capital LLC bought a new stake in American Tower during the second quarter worth approximately $27,000. Hobbs Group Advisors LLC acquired a new stake in American Tower in the second quarter worth approximately $29,000. Northwest Investment Counselors LLC bought a new position in American Tower during the 3rd quarter valued at $30,000. Finally, Family Firm Inc. acquired a new position in shares of American Tower during the 2nd quarter valued at $35,000. Institutional investors own 92.69% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the transaction, the chief executive officer now directly owns 61,843 shares in the company, valued at $14,223,890. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total value of $2,333,866.35. Following the completion of the sale, the executive vice president now owns 51,746 shares of the company’s stock, valued at approximately $12,070,789.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value of $4,953,510.00. Following the completion of the transaction, the chief executive officer now owns 61,843 shares in the company, valued at $14,223,890. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,723 shares of company stock worth $7,795,397 in the last quarter. 0.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Scotiabank upped their price objective on American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 31st. Mizuho raised their price objective on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. TD Cowen boosted their target price on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. BMO Capital Markets raised their target price on shares of American Tower from $246.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. Finally, JPMorgan Chase & Co. increased their price objective on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $237.92.

American Tower Price Performance

AMT opened at $222.80 on Friday. American Tower Co. has a 12-month low of $162.55 and a 12-month high of $243.56. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. The firm has a market capitalization of $104.04 billion, a P/E ratio of 50.41, a PEG ratio of 1.08 and a beta of 0.83. The stock has a fifty day moving average of $228.80 and a 200-day moving average of $207.66.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.46 earnings per share. Equities analysts forecast that American Tower Co. will post 10.12 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were paid a $1.62 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 2.91%. American Tower’s dividend payout ratio is presently 146.61%.

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.