My Legacy Advisors LLC Purchases 149 Shares of American Tower Co. (NYSE:AMT)

My Legacy Advisors LLC grew its position in American Tower Co. (NYSE:AMT) by 5.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,026 shares of the real estate investment trust’s stock after purchasing an additional 149 shares during the quarter. My Legacy Advisors LLC’s holdings in American Tower were worth $546,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Moss Adams Wealth Advisors LLC boosted its position in American Tower by 11.9% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 1,195 shares of the real estate investment trust’s stock valued at $221,000 after acquiring an additional 127 shares during the last quarter. Financial Management Professionals Inc. lifted its stake in shares of American Tower by 9.6% in the 4th quarter. Financial Management Professionals Inc. now owns 1,819 shares of the real estate investment trust’s stock valued at $334,000 after purchasing an additional 159 shares during the period. Triangle Securities Wealth Management boosted its holdings in shares of American Tower by 2.1% during the 4th quarter. Triangle Securities Wealth Management now owns 6,080 shares of the real estate investment trust’s stock worth $1,115,000 after buying an additional 125 shares in the last quarter. HB Wealth Management LLC boosted its stake in American Tower by 4.2% during the fourth quarter. HB Wealth Management LLC now owns 32,609 shares of the real estate investment trust’s stock worth $5,981,000 after acquiring an additional 1,304 shares in the last quarter. Finally, CGN Advisors LLC grew its stake in shares of American Tower by 2.0% in the 4th quarter. CGN Advisors LLC now owns 16,236 shares of the real estate investment trust’s stock valued at $2,978,000 after buying an additional 311 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the sale, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is currently owned by insiders.

American Tower Stock Performance

Shares of American Tower stock opened at $190.51 on Friday. The firm has a market capitalization of $89.02 billion, a P/E ratio of 80.39, a price-to-earnings-growth ratio of 1.16 and a beta of 0.84. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The business’s fifty day simple moving average is $192.86 and its 200 day simple moving average is $211.29. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the previous year, the firm earned $2.58 earnings per share. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, analysts anticipate that American Tower Co. will post 10.15 EPS for the current year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.40%. American Tower’s payout ratio is currently 273.42%.

Analyst Ratings Changes

AMT has been the subject of several research reports. Scotiabank reduced their price target on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Wells Fargo & Company lowered American Tower from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $245.00 to $230.00 in a report on Thursday, October 10th. Finally, The Goldman Sachs Group cut their target price on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $230.67.

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.