Bcwm LLC Invests $3.35 Million in American Tower Co. (NYSE:AMT)

Bcwm LLC bought a new stake in American Tower Co. (NYSE:AMT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 18,267 shares of the real estate investment trust’s stock, valued at approximately $3,350,000.

Several other institutional investors also recently added to or reduced their stakes in AMT. Roxbury Financial LLC acquired a new stake in shares of American Tower in the fourth quarter worth $32,000. Graney & King LLC acquired a new stake in American Tower during the fourth quarter worth $32,000. Legacy Investment Solutions LLC bought a new position in American Tower during the third quarter worth about $34,000. Crowley Wealth Management Inc. acquired a new position in shares of American Tower in the 4th quarter worth approximately $37,000. Finally, Bank of Jackson Hole Trust bought a new position in shares of American Tower during the fourth quarter valued at $46,000. 92.69% of the stock is owned by institutional investors.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the transaction, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AMT shares. Mizuho decreased their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Scotiabank dropped 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 note on Thursday, January 23rd. Wells Fargo & Company raised shares of American Tower from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $210.00 to $230.00 in a research note on Monday, March 17th. The Goldman Sachs Group dropped their price objective 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. Finally, BMO Capital Markets increased their price objective on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $229.43.

American Tower Stock Up 0.7 %

AMT stock opened at $215.52 on Friday. The stock has a market capitalization of $100.74 billion, a P/E ratio of 90.94, a P/E/G ratio of 1.29 and a beta of 0.85. The business has a 50-day moving average of $198.89 and a 200-day moving average of $204.58. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56.

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

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Friday, April 11th. This is a positive change from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio is presently 141.37%.

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.