Mission Wealth Management LP Has $356,000 Stake in American Tower Co. (NYSE:AMT)

Mission Wealth Management LP grew its stake in shares of American Tower Co. (NYSE:AMT) by 4.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,799 shares of the real estate investment trust’s stock after buying an additional 76 shares during the period. Mission Wealth Management LP’s holdings in American Tower were worth $356,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Northwest Investment Counselors LLC bought a new stake in shares of American Tower in the 1st quarter worth approximately $25,000. Gold Investment Management Ltd. bought a new position in American Tower in the fourth quarter worth $28,000. Thompson Investment Management Inc. acquired a new stake in American Tower during the fourth quarter worth $29,000. SOA Wealth Advisors LLC. bought a new stake in American Tower in the 1st quarter valued at $30,000. Finally, Private Wealth Management Group LLC acquired a new position in shares of American Tower in the 4th quarter valued at $31,000. Institutional investors own 92.69% of the company’s stock.

Insider Activity at American Tower

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

American Tower Trading Up 0.4 %

NYSE:AMT traded up $0.85 during trading hours on Friday, hitting $195.64. 1,018,567 shares of the stock were exchanged, compared to its average volume of 1,881,181. The company has a market capitalization of $91.36 billion, a P/E ratio of 44.28, a price-to-earnings-growth ratio of 1.39 and a beta of 0.81. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.39. The company’s 50 day moving average is $190.36 and its two-hundred day moving average is $194.58. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $219.10.

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 the consensus estimate of $2.43 by ($0.47). The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company earned $2.54 EPS. On average, sell-side analysts anticipate that American Tower Co. will post 10.03 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date is Friday, June 14th. American Tower’s dividend payout ratio (DPR) is 146.61%.

Analysts Set New Price Targets

A number of research firms recently weighed in on AMT. Mizuho began coverage on shares of American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price on the stock. Raymond James upgraded American Tower from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $226.00 to $248.00 in a research report on Wednesday, May 1st. Morgan Stanley upped their price target on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Scotiabank cut their price objective on American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a report on Wednesday, May 1st. Finally, BMO Capital Markets lowered their target price on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $221.67.

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.