HB Wealth Management LLC Purchases 1,304 Shares of American Tower Co. (NYSE:AMT)

HB Wealth Management LLC increased its position in shares of American Tower Co. (NYSE:AMT) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,609 shares of the real estate investment trust’s stock after buying an additional 1,304 shares during the period. HB Wealth Management LLC’s holdings in American Tower were worth $5,981,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in AMT. Fortitude Family Office LLC raised its holdings in shares of American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 78 shares in the last quarter. Fairscale Capital LLC bought a new position in American Tower in the second quarter worth approximately $27,000. Northwest Investment Counselors LLC purchased a new stake in American Tower during the third quarter worth $30,000. Hara Capital LLC purchased a new position in shares of American Tower in the 3rd quarter valued at $31,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of American Tower in the 3rd quarter worth $34,000. 92.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the company’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 value of $3,000,283.70. Following the sale, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AMT has been the topic of several analyst reports. Barclays cut their target price on American Tower from $251.00 to $215.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. JPMorgan Chase & Co. boosted their price objective on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Mizuho cut their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. BMO Capital Markets decreased their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Finally, Scotiabank dropped their target price on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, American Tower has an average rating of “Moderate Buy” and an average target price of $230.67.

American Tower Price Performance

Shares of NYSE AMT opened at $190.51 on Friday. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market cap of $89.02 billion, a P/E ratio of 80.39, a P/E/G ratio of 1.16 and a beta of 0.84. The business’s 50 day moving average price is $192.86 and its 200 day moving average price is $211.29.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.58 EPS. On average, sell-side analysts expect that American Tower Co. will post 10.15 earnings per share for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be paid a $1.62 dividend. The ex-dividend date is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.40%. American Tower’s payout ratio is 273.42%.

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.