Conscious Wealth Investments LLC Purchases 243 Shares of American Tower Co. (NYSE:AMT)

Conscious Wealth Investments LLC raised its holdings in shares of American Tower Co. (NYSE:AMT) by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,799 shares of the real estate investment trust’s stock after buying an additional 243 shares during the period. American Tower comprises approximately 2.1% of Conscious Wealth Investments LLC’s investment portfolio, making the stock its 26th biggest position. Conscious Wealth Investments LLC’s holdings in American Tower were worth $2,891,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMT. Allstate Corp boosted its position in American Tower by 3.1% in the 4th quarter. Allstate Corp now owns 1,750 shares of the real estate investment trust’s stock valued at $378,000 after buying an additional 53 shares during the period. NBT Bank N A NY grew its stake in American Tower by 3.3% in the second quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock worth $329,000 after purchasing an additional 54 shares in the last quarter. Glassman Wealth Services increased its holdings in American Tower by 4.7% during the 4th quarter. Glassman Wealth Services now owns 1,242 shares of the real estate investment trust’s stock worth $268,000 after purchasing an additional 56 shares during the period. CFO4Life Group LLC lifted its holdings in shares of American Tower by 5.4% in the 1st quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock worth $221,000 after buying an additional 57 shares during the period. Finally, Tyche Wealth Partners LLC grew its position in shares of American Tower by 4.9% during the 2nd quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock worth $242,000 after buying an additional 58 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on AMT. Wells Fargo & Company upped their price objective on shares of American Tower from $225.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Barclays reduced 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. BMO Capital Markets increased their target price on American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft boosted their price target on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Finally, Mizuho lifted their target price on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $233.29.

American Tower Trading Up 0.8 %

Shares of American Tower stock opened at $240.32 on Tuesday. The firm’s 50 day simple moving average is $221.93 and its two-hundred day simple moving average is $201.52. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. The firm has a market capitalization of $112.25 billion, a price-to-earnings ratio of 54.37, a PEG ratio of 1.57 and a beta of 0.83. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $243.56.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.52). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the prior year, the firm earned $2.46 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts predict that American Tower Co. will post 10.18 EPS for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.70%. American Tower’s payout ratio is currently 146.61%.

Insider Activity

In related news, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 51,746 shares in the company, valued at $12,070,789.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total value of $508,020.33. Following the transaction, the chief accounting officer now directly owns 31,873 shares of the company’s stock, valued at approximately $7,424,177.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total value of $2,333,866.35. Following the transaction, the executive vice president now owns 51,746 shares in the company, valued at $12,070,789.42. The disclosure for this sale can be found here. Insiders have sold a total of 33,723 shares of company stock worth $7,795,397 over the last quarter. 0.18% of the stock is currently 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.