Callan Family Office LLC Invests $2.35 Million in American Tower Co. (NYSE:AMT)

Callan Family Office LLC bought a new position in American Tower Co. (NYSE:AMT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 12,817 shares of the real estate investment trust’s stock, valued at approximately $2,351,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Rehmann Capital Advisory Group grew its holdings in shares of American Tower by 4.2% in the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock worth $332,000 after purchasing an additional 58 shares during the last quarter. Precedent Wealth Partners LLC lifted its stake in American Tower by 4.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock worth $235,000 after acquiring an additional 58 shares during the period. Resonant Capital Advisors LLC lifted its stake in American Tower by 5.8% in the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock worth $206,000 after acquiring an additional 61 shares during the period. Calamos Wealth Management LLC lifted its stake in American Tower by 2.9% in the fourth quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust’s stock worth $398,000 after acquiring an additional 61 shares during the period. Finally, Sunburst Financial Group LLC lifted its stake in American Tower by 4.9% in the fourth quarter. Sunburst Financial Group LLC now owns 1,354 shares of the real estate investment trust’s stock worth $248,000 after acquiring an additional 63 shares during the period. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

AMT has been the subject of a number of research analyst reports. Wells Fargo & Company dropped their price target on American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Barclays dropped their price target on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Mizuho dropped their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Citigroup dropped their price target on American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Finally, Hsbc Global Res raised American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and a consensus price target of $225.21.

American Tower Price Performance

AMT opened at $212.49 on Friday. The stock has a 50-day moving average price of $189.60 and a 200-day moving average price of $206.40. 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 firm has a market cap of $99.29 billion, a PE ratio of 89.66, a P/E/G ratio of 1.29 and a beta of 0.85. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56.

American Tower (NYSE:AMT) last posted its quarterly earnings results 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 firm had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.29 EPS. Sell-side analysts predict that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.20%. 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 payout ratio is currently 134.72%.

American Tower Profile

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.