American Tower Co. (NYSE:AMT) Position Increased by Centurion Wealth Management LLC

Centurion Wealth Management LLC raised its holdings in shares of American Tower Co. (NYSE:AMT) by 13.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,543 shares of the real estate investment trust’s stock after buying an additional 410 shares during the period. Centurion Wealth Management LLC’s holdings in American Tower were worth $650,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AMT. Roxbury Financial LLC purchased a new stake in shares of American Tower in the 4th quarter valued at approximately $32,000. Legacy Investment Solutions LLC purchased a new stake in shares of American Tower in the 3rd quarter valued at approximately $34,000. Activest Wealth Management lifted its position in shares of American Tower by 431.0% in the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 125 shares in the last quarter. Bank of Jackson Hole Trust purchased a new stake in shares of American Tower in the 4th quarter valued at approximately $46,000. Finally, Versant Capital Management Inc lifted its position in shares of American Tower by 113.9% in the 4th quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Activity

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. BMO Capital Markets upped their price target on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. The Goldman Sachs Group cut their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Barclays cut their target price on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, Scotiabank cut their target price on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $226.29.

American Tower Stock Performance

NYSE:AMT opened at $211.02 on Friday. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The firm’s fifty day simple moving average is $192.33 and its 200 day simple moving average is $205.82. 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 firm has a market capitalization of $98.64 billion, a PE ratio of 89.04, a PEG ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.83. The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the business posted $2.29 EPS. On average, sell-side analysts anticipate that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be given a dividend of $1.70 per share. This is a positive change from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Friday, April 11th. American Tower’s payout ratio is 141.37%.

American Tower Company Profile

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.