SteelPeak Wealth LLC Purchases New Holdings in American Tower Co. (NYSE:AMT)

SteelPeak Wealth LLC bought a new stake in shares of American Tower Co. (NYSE:AMT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 4,995 shares of the real estate investment trust's stock, valued at approximately $924,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. FMR LLC raised its position in shares of American Tower by 25.4% during the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust's stock worth $2,474,934,000 after buying an additional 2,152,646 shares in the last quarter. Adelante Capital Management LLC raised its stake in shares of American Tower by 2,723.4% in the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust's stock worth $279,890,000 after buying an additional 1,160,890 shares in the last quarter. Pathway Financial Advisers LLC lifted its holdings in shares of American Tower by 23,224.1% in the third quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust's stock valued at $231,941,000 after buying an additional 993,061 shares during the period. International Assets Investment Management LLC raised its position in American Tower by 22,242.7% in the third quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust's stock worth $1,811,330,000 after acquiring an additional 775,379 shares in the last quarter. Finally, State Street Corp lifted its holdings in American Tower by 3.1% in the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust's stock valued at $4,924,091,000 after acquiring an additional 635,726 shares during the last quarter. Institutional investors own 92.69% of the company's stock.

American Tower Price Performance

Shares of NYSE AMT traded up $2.08 during mid-day trading on Thursday, hitting $185.71. 1,457,029 shares of the stock were exchanged, compared to its average volume of 2,329,843. The company has a market cap of $86.78 billion, a P/E ratio of 78.36, a PEG ratio of 1.24 and a beta of 0.84. 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 Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The stock's fifty day simple moving average is $191.32 and its two-hundred day simple moving average is $210.78.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts' consensus estimates of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same period in the prior year, the firm posted $2.58 EPS. American Tower's revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, analysts forecast that American Tower Co. will post 10.15 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend is Friday, December 27th. American Tower's dividend payout ratio (DPR) is presently 273.42%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. The Goldman Sachs Group dropped their target price on shares of American Tower from $260.00 to $234.00 and set a "buy" rating on the stock in a report on Thursday, December 12th. Barclays decreased their target price on American Tower from $215.00 to $214.00 and set an "overweight" rating on the stock in a report on Tuesday. BMO Capital Markets reduced their target price on American Tower from $255.00 to $245.00 and set an "outperform" rating for the company in a report on Wednesday, October 30th. Wells Fargo & Company dropped their price target on American Tower from $215.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 23rd. Finally, Mizuho reduced their price objective on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $226.23.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction that occurred on Thursday, January 16th. The shares were 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 of the company's stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is owned by company insiders.

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.