Western Wealth Management LLC Has $1.27 Million Stock Position in American Tower Corporation $AMT

Western Wealth Management LLC increased its position in American Tower Corporation (NYSE:AMT) by 75.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,342 shares of the real estate investment trust’s stock after buying an additional 3,152 shares during the period. Western Wealth Management LLC’s holdings in American Tower were worth $1,267,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. J. Stern & Co. LLP lifted its holdings in shares of American Tower by 28,121.1% in the 4th quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock worth $6,616,703,000 after purchasing an additional 37,553,436 shares in the last quarter. State Street Corp increased its stake in American Tower by 0.3% during the 4th quarter. State Street Corp now owns 20,987,534 shares of the real estate investment trust’s stock valued at $3,719,634,000 after purchasing an additional 71,605 shares in the last quarter. Geode Capital Management LLC raised its holdings in American Tower by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 13,499,035 shares of the real estate investment trust’s stock worth $2,361,675,000 after buying an additional 227,361 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of American Tower by 20,721.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust’s stock valued at $1,705,254,000 after buying an additional 9,666,025 shares in the last quarter. Finally, Lazard Asset Management LLC grew its holdings in shares of American Tower by 20.4% during the first quarter. Lazard Asset Management LLC now owns 7,325,943 shares of the real estate investment trust’s stock valued at $1,264,311,000 after buying an additional 1,240,780 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 0.4%

Shares of AMT stock opened at $170.23 on Thursday. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. The company has a market capitalization of $79.32 billion, a price-to-earnings ratio of 23.42, a PEG ratio of 2.69 and a beta of 0.90. American Tower Corporation has a 52-week low of $160.06 and a 52-week high of $214.79. The company has a 50-day simple moving average of $173.58 and a two-hundred day simple moving average of $177.99.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were issued a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Friday, June 12th. American Tower’s dividend payout ratio (DPR) is 98.49%.

Insiders Place Their Bets

In related news, CFO Robert Joseph Meyer sold 5,000 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total transaction of $894,450.00. Following the completion of the transaction, the chief financial officer owned 21,428 shares in the company, valued at approximately $3,833,254.92. This represents a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ruth T. Dowling sold 1,106 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total transaction of $193,505.76. Following the completion of the transaction, the executive vice president owned 27,711 shares in the company, valued at approximately $4,848,316.56. The trade was a 3.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,791 shares of company stock valued at $1,204,091 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AMT shares. The Goldman Sachs Group set a $210.00 target price on shares of American Tower in a report on Tuesday, July 28th. Sanford C. Bernstein reissued an “outperform” rating and set a $214.00 price objective on shares of American Tower in a report on Wednesday, July 29th. Scotiabank restated an “outperform” rating on shares of American Tower in a report on Wednesday, July 29th. Weiss Ratings raised American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. Finally, Mizuho upgraded American Tower from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $189.00 to $205.00 in a report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $215.14.

About American Tower

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.