American Tower Co. (NYSE:AMT) Stock Position Raised by Evoke Wealth LLC

Evoke Wealth LLC lifted its position in American Tower Co. (NYSE:AMT) by 6.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,472 shares of the real estate investment trust’s stock after buying an additional 95 shares during the quarter. Evoke Wealth LLC’s holdings in American Tower were worth $272,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMT. State Street Corp lifted its stake in American Tower by 3.1% in the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock valued at $4,924,091,000 after acquiring an additional 635,726 shares during the last quarter. Geode Capital Management LLC lifted its stake in American Tower by 1.9% in the third quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust’s stock valued at $2,599,074,000 after acquiring an additional 204,426 shares during the last quarter. FMR LLC lifted its stake in American Tower by 25.4% in the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock valued at $2,474,934,000 after acquiring an additional 2,152,646 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in American Tower by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,316,312 shares of the real estate investment trust’s stock valued at $975,065,000 after acquiring an additional 107,345 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in American Tower by 0.9% in the third quarter. Franklin Resources Inc. now owns 4,422,273 shares of the real estate investment trust’s stock valued at $981,455,000 after acquiring an additional 38,436 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on AMT shares. BMO Capital Markets lifted their target price on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Scotiabank dropped their price target on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research report on Thursday, January 23rd. Morgan Stanley dropped their price target on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. Finally, JMP Securities started coverage on shares of American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target on the stock. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, American Tower presently has a consensus rating of “Buy” and a consensus price target of $228.79.

American Tower Trading Down 0.5 %

Shares of American Tower stock opened at $213.83 on Thursday. The firm has a market capitalization of $99.95 billion, a PE ratio of 90.22, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The company’s fifty day moving average price is $194.43 and its two-hundred day moving average price is $205.60. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56.

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

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Friday, April 11th. This is an increase from American Tower’s previous quarterly dividend of $1.62. American Tower’s payout ratio is currently 141.37%.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the company’s 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 transaction, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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.