OneAscent Wealth Management LLC Buys 92 Shares of American Tower Co. (NYSE:AMT)

OneAscent Wealth Management LLC grew its position in shares of American Tower Co. (NYSE:AMT) by 8.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,238 shares of the real estate investment trust’s stock after purchasing an additional 92 shares during the period. OneAscent Wealth Management LLC’s holdings in American Tower were worth $227,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Roxbury Financial LLC purchased a new position in American Tower during the 4th quarter valued at approximately $32,000. Graney & King LLC bought a new position in shares of American Tower during the 4th quarter valued at approximately $32,000. Legacy Investment Solutions LLC purchased a new position in shares of American Tower in the third quarter valued at $34,000. Crowley Wealth Management Inc. bought a new stake in American Tower in the fourth quarter worth $37,000. Finally, Bank of Jackson Hole Trust bought a new position in American Tower during the fourth quarter valued at $46,000. 92.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AMT shares. Scotiabank reduced their target price on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a report on Thursday, January 23rd. Citizens Jmp raised American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Mizuho cut their target price 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. Wells Fargo & Company raised shares of American Tower from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $210.00 to $230.00 in a research note on Monday, March 17th. Finally, BMO Capital Markets increased their target price on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $229.43.

American Tower Stock Performance

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

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share 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 revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.29 EPS. As a group, equities analysts forecast that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be given a dividend of $1.70 per share. This is an increase from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a yield of 3.16%. American Tower’s dividend payout ratio (DPR) is 141.37%.

Insider Activity

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction 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 transaction, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.18% of the company’s stock.

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.