OneAscent Wealth Management LLC Buys 92 Shares of American Tower Co. (NYSE:AMT)

OneAscent Wealth Management LLC boosted its stake in shares of American Tower Co. (NYSE:AMT) by 8.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,238 shares of the real estate investment trust’s stock after buying an additional 92 shares during the period. OneAscent Wealth Management LLC’s holdings in American Tower were worth $227,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Roxbury Financial LLC bought a new position in shares of American Tower during the fourth quarter valued at $32,000. Graney & King LLC bought a new stake in American Tower during the 4th quarter valued at about $32,000. Legacy Investment Solutions LLC purchased a new position in American Tower in the third quarter worth about $34,000. Crowley Wealth Management Inc. bought a new position in shares of American Tower in the fourth quarter worth approximately $37,000. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of American Tower during the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AMT. The Goldman Sachs Group lowered their price objective 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. Scotiabank lowered their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a report on Thursday, January 23rd. Hsbc Global Res raised American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Wells Fargo & Company raised American Tower from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $210.00 to $230.00 in a research report on Monday, March 17th. Finally, Morgan Stanley dropped their price target on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $229.43.

American Tower Trading Up 0.7 %

NYSE:AMT opened at $215.52 on Friday. The firm has a market capitalization of $100.74 billion, a price-to-earnings ratio of 90.94, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The business has a fifty day moving average price of $198.89 and a 200-day moving average price of $204.58. American Tower Co. has a one year low of $170.46 and a one year high of $243.56.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. The business had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.29 earnings per share. Sell-side analysts forecast that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be given a $1.70 dividend. This is a positive change from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Friday, April 11th. American Tower’s dividend payout ratio is presently 141.37%.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.18% 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.