Yoder Wealth Management Inc. Acquires Shares of 1,497 American Tower Co. (NYSE:AMT)

Yoder Wealth Management Inc. bought a new position in shares of American Tower Co. (NYSE:AMT) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,497 shares of the real estate investment trust’s stock, valued at approximately $296,000.

Several other institutional investors and hedge funds have also modified their holdings of AMT. Norges Bank bought a new stake in shares of American Tower during the 4th quarter valued at $1,051,898,000. Wellington Management Group LLP raised its position in American Tower by 21.9% during the fourth quarter. Wellington Management Group LLP now owns 15,823,622 shares of the real estate investment trust’s stock valued at $3,416,004,000 after purchasing an additional 2,839,570 shares in the last quarter. Edgewood Management LLC lifted its stake in American Tower by 46.2% during the fourth quarter. Edgewood Management LLC now owns 4,985,879 shares of the real estate investment trust’s stock worth $1,076,352,000 after purchasing an additional 1,576,683 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of American Tower by 41.0% in the 4th quarter. Jennison Associates LLC now owns 5,299,306 shares of the real estate investment trust’s stock valued at $1,144,014,000 after purchasing an additional 1,541,029 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of American Tower by 16,195.9% in the 4th quarter. International Assets Investment Management LLC now owns 849,340 shares of the real estate investment trust’s stock valued at $1,833,560,000 after purchasing an additional 844,128 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Trading Up 1.3 %

Shares of AMT traded up $2.52 during mid-day trading on Wednesday, reaching $194.79. 1,182,068 shares of the company were exchanged, compared to its average volume of 2,403,042. The business has a 50 day simple moving average of $189.02 and a two-hundred day simple moving average of $194.69. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $219.10. The stock has a market capitalization of $90.96 billion, a PE ratio of 44.07, a PEG ratio of 1.39 and a beta of 0.81. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.85 and a current ratio of 0.85.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). American Tower had a return on equity of 18.45% and a net margin of 18.42%. The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same quarter last year, the firm posted $2.54 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, analysts predict that American Tower Co. will post 10.03 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 14th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Friday, June 14th. American Tower’s dividend payout ratio is 146.61%.

Wall Street Analysts Forecast Growth

AMT has been the topic of several research analyst reports. Scotiabank reduced their price objective on American Tower from $243.00 to $223.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, May 1st. The Goldman Sachs Group assumed coverage on shares of American Tower in a report on Monday. They set a “buy” rating and a $230.00 price target on the stock. Barclays dropped their price objective on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Morgan Stanley boosted their target price on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Finally, Raymond James upgraded American Tower from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $226.00 to $248.00 in a research note on Wednesday, May 1st. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $221.67.

Insider Activity at American Tower

In related news, Director Robert D. Hormats sold 700 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $183.50, for a total transaction of $128,450.00. Following the transaction, the director now directly owns 7,332 shares of the company’s stock, valued at $1,345,422. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Robert D. Hormats sold 700 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total transaction of $128,450.00. Following the transaction, the director now directly owns 7,332 shares of the company’s stock, valued at $1,345,422. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sanjay Goel sold 3,504 shares of American Tower stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total transaction of $702,061.44. Following the transaction, the executive vice president now owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

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.