Elwood & Goetz Wealth Advisory Group LLC Invests $248,000 in American Tower Co. (NYSE:AMT)

Elwood & Goetz Wealth Advisory Group LLC acquired a new stake in shares of American Tower Co. (NYSE:AMT) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,066 shares of the real estate investment trust’s stock, valued at approximately $248,000.

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

American Tower Trading Down 1.4 %

Shares of AMT opened at $222.74 on Friday. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. American Tower Co. has a 12 month low of $162.55 and a 12 month high of $243.56. The stock has a market cap of $104.01 billion, a PE ratio of 50.39, a P/E/G ratio of 1.08 and a beta of 0.83. The stock’s 50-day moving average is $228.80 and its two-hundred day moving average is $207.56.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). The company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.46 EPS. Equities analysts forecast that American Tower Co. will post 10.12 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, October 25th. Investors of record on Wednesday, October 9th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is 146.61%.

Insider Buying and Selling at American Tower

In other news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the sale, the executive vice president now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Steven O. Vondran sold 21,537 shares of the company’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 completion of the sale, the chief executive officer now directly owns 61,843 shares in the company, valued at $14,223,890. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,723 shares of company stock valued at $7,795,397 in the last ninety days. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Mizuho upped their price objective on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Scotiabank raised their target price on shares of American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, July 31st. TD Cowen upped their price target on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. increased their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $237.92.

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.