American Tower Co. (NYSE:AMT) Shares Purchased by RKL Wealth Management LLC

RKL Wealth Management LLC lifted its position in American Tower Co. (NYSE:AMT) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,447 shares of the real estate investment trust’s stock after acquiring an additional 399 shares during the period. RKL Wealth Management LLC’s holdings in American Tower were worth $1,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Hara Capital LLC acquired a new stake in shares of American Tower in the third quarter worth approximately $31,000. Legacy Investment Solutions LLC acquired a new stake in shares of American Tower in the third quarter worth approximately $34,000. Activest Wealth Management boosted its stake in shares of American Tower by 431.0% in the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 125 shares during the last quarter. Roxbury Financial LLC purchased a new position in American Tower during the fourth quarter worth approximately $32,000. Finally, Hobbs Group Advisors LLC lifted its position in American Tower by 51.0% during the third quarter. Hobbs Group Advisors LLC now owns 222 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 75 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was 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 trade represents a 20.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AMT has been the topic of a number of analyst reports. Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research report on Monday, January 27th. BMO Capital Markets lifted their price objective on American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Mizuho reduced their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, JMP Securities began coverage on American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective on the stock. Four research 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’s stock. According to data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and a consensus price target of $225.21.

American Tower Price Performance

AMT stock opened at $212.49 on Friday. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The company has a market capitalization of $99.29 billion, a PE ratio of 89.66, a P/E/G ratio of 1.29 and a beta of 0.85. 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 business’s fifty day moving average price is $189.60 and its 200 day moving average price is $206.40.

American Tower (NYSE:AMT) last released its quarterly earnings data 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 business had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm 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 company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.20%. 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 dividend payout ratio (DPR) is currently 134.72%.

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.