Belpointe Asset Management LLC reduced its stake in American Tower Co. (NYSE:AMT - Free Report) by 11.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,748 shares of the real estate investment trust's stock after selling 1,725 shares during the quarter. Belpointe Asset Management LLC's holdings in American Tower were worth $2,338,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Roxbury Financial LLC bought a new stake in shares of American Tower in the 4th quarter valued at $32,000. Graney & King LLC purchased a new stake in shares of American Tower during the 4th quarter valued at $32,000. Crowley Wealth Management Inc. purchased a new stake in American Tower during the fourth quarter worth about $37,000. Bank of Jackson Hole Trust bought a new stake in shares of American Tower in the 4th quarter worth approximately $46,000. Finally, Versant Capital Management Inc grew its stake in shares of American Tower by 113.9% during the 4th quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust's stock worth $48,000 after acquiring an additional 139 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.
American Tower Stock Up 2.3 %
Shares of AMT stock traded up $5.03 during midday trading on Friday, reaching $223.03. 2,599,002 shares of the stock were exchanged, compared to its average volume of 2,462,013. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The firm has a market cap of $104.26 billion, a PE ratio of 94.10, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. The company's 50 day moving average is $207.73 and its two-hundred day moving average is $202.71. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.
American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, topping the consensus estimate of $1.79 by $0.83. The business had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.29 earnings per share. On average, equities research analysts predict that American Tower Co. will post 10.14 EPS for the current year.
American Tower Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.05%. This is a positive change from American Tower's previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. American Tower's payout ratio is 141.37%.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the company. BMO Capital Markets upped their price target on American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Citizens Jmp raised shares of American Tower to a "strong-buy" rating in a research note on Monday, January 27th. Mizuho dropped their price objective on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. JMP Securities initiated coverage on American Tower in a research note on Monday, January 27th. They issued an "outperform" rating and a $225.00 target price for the company. Finally, Hsbc Global Res upgraded American Tower to a "strong-buy" rating in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned 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 "Buy" and an average price target of $232.07.
Get Our Latest Research Report on AMT
American Tower Profile
(
Free Report)
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.
Further Reading
Before you consider American Tower, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and American Tower wasn't on the list.
While American Tower currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
