5,751 Shares in American Tower Co. (REIT) (NYSE:AMT) Purchased by San Luis Wealth Advisors LLC

San Luis Wealth Advisors LLC bought a new position in shares of American Tower Co. (REIT) (NYSE:AMT) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,751 shares of the real estate investment trust’s stock, valued at approximately $1,526,000.

Other institutional investors have also bought and sold shares of the company. Pinnacle Wealth Planning Services Inc. boosted its holdings in shares of American Tower by 2.5% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 1,449 shares of the real estate investment trust’s stock worth $385,000 after purchasing an additional 36 shares in the last quarter. Outlook Wealth Advisors LLC boosted its holdings in shares of American Tower by 2.9% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 1,369 shares of the real estate investment trust’s stock worth $363,000 after purchasing an additional 39 shares in the last quarter. McClarren Financial Advisors Inc. boosted its holdings in shares of American Tower by 34.2% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 157 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 40 shares in the last quarter. Platte River Wealth Advisors LLC boosted its holdings in shares of American Tower by 1.9% in the 3rd quarter. Platte River Wealth Advisors LLC now owns 2,169 shares of the real estate investment trust’s stock worth $576,000 after purchasing an additional 40 shares in the last quarter. Finally, Midwest Professional Planners LTD. boosted its holdings in shares of American Tower by 1.1% in the 3rd quarter. Midwest Professional Planners LTD. now owns 3,626 shares of the real estate investment trust’s stock worth $962,000 after purchasing an additional 41 shares in the last quarter. Institutional investors and hedge funds own 89.57% of the company’s stock.

Several equities research analysts recently weighed in on AMT shares. Oppenheimer cut American Tower from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $305.00 to $300.00 in a report on Friday, September 10th. Wells Fargo & Company dropped their target price on American Tower from $305.00 to $285.00 and set an “overweight” rating for the company in a report on Friday, November 19th. JPMorgan Chase & Co. cut American Tower from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $285.00 to $271.00 in a report on Wednesday. Credit Suisse Group increased their target price on American Tower from $324.00 to $328.00 and gave the company an “outperform” rating in a report on Friday, October 29th. Finally, Morgan Stanley dropped their target price on American Tower from $316.00 to $294.00 and set an “equal weight” rating for the company in a report on Wednesday, December 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $294.47.

In other news, Director Pamela D. A. Reeve sold 3,590 shares of the firm’s stock in a transaction on Thursday, December 9th. The stock was sold at an average price of $273.02, for a total value of $980,141.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joann A. Reed sold 866 shares of the firm’s stock in a transaction on Tuesday, November 16th. The stock was sold at an average price of $260.50, for a total value of $225,593.00. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

AMT stock opened at $266.58 on Friday. American Tower Co. has a twelve month low of $197.50 and a twelve month high of $303.72. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 3.32. The firm has a market cap of $121.40 billion, a PE ratio of 48.47, a price-to-earnings-growth ratio of 2.03 and a beta of 0.37. The business has a 50 day moving average of $273.37 and a 200 day moving average of $278.39.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Wednesday, October 27th. The real estate investment trust reported $1.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.27 by ($0.69). American Tower had a net margin of 27.44% and a return on equity of 39.34%. The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the business earned $2.23 EPS. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. On average, research analysts expect that American Tower Co. will post 9.18 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 14th. Investors of record on Monday, December 27th will be given a dividend of $1.39 per share. This represents a $5.56 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Thursday, December 23rd. This is a positive change from American Tower’s previous quarterly dividend of $1.31. American Tower’s dividend payout ratio (DPR) is 101.09%.

American Tower Company Profile

American Tower Corp. provides real estate investment services, and owns, operates, and develops multitenant communications real estate properties. It operates through the following segments: U.S. & Canada, Asia-Pacific, Europe, Africa Latin America, and Services. The Asia-Pacific segment refers to the operations in Australia and India.

Further Reading: When is a capital gain realized?

Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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