American Tower Co. (NYSE:AMT) Shares Purchased by Moss Adams Wealth Advisors LLC

Moss Adams Wealth Advisors LLC raised its holdings in shares of American Tower Co. (NYSE:AMT) by 11.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,195 shares of the real estate investment trust’s stock after acquiring an additional 127 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in American Tower were worth $221,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMT. Fortitude Family Office LLC lifted its holdings in shares of American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 78 shares during the last quarter. Fairscale Capital LLC acquired a new position in American Tower in the 2nd quarter valued at $27,000. Northwest Investment Counselors LLC purchased a new position in American Tower during the 3rd quarter worth $30,000. Hara Capital LLC acquired a new stake in shares of American Tower in the 3rd quarter worth $31,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of American Tower in the third quarter valued at about $34,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Up 0.2 %

American Tower stock opened at $190.51 on Monday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a market cap of $89.02 billion, a PE ratio of 80.39, a P/E/G ratio of 1.16 and a beta of 0.84. The stock has a 50-day moving average price of $192.86 and a 200 day moving average price of $211.42. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter last year, the company posted $2.58 earnings per share. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. Equities research analysts predict that American Tower Co. will post 10.15 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be paid a dividend of $1.62 per share. The ex-dividend date is Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.40%. American Tower’s dividend payout ratio is presently 273.42%.

Analyst Ratings Changes

A number of brokerages recently commented on AMT. Wells Fargo & Company downgraded shares of American Tower from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. The Goldman Sachs Group decreased their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. BMO Capital Markets cut their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Mizuho lowered their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, Scotiabank lowered their price target on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $230.67.

Insider Activity at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by 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.