Callan Family Office LLC Makes New Investment in American Tower Co. (NYSE:AMT)

Callan Family Office LLC purchased a new stake in shares of American Tower Co. (NYSE:AMT - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 12,817 shares of the real estate investment trust's stock, valued at approximately $2,351,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hara Capital LLC acquired a new stake in shares of American Tower during the 3rd quarter valued at $31,000. Legacy Investment Solutions LLC acquired a new stake in shares of American Tower during the 3rd quarter valued at $34,000. Activest Wealth Management lifted its position in shares of American Tower by 431.0% during the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust's stock valued at $36,000 after acquiring an additional 125 shares during the last quarter. Roxbury Financial LLC acquired a new stake in shares of American Tower during the 4th quarter valued at $32,000. Finally, Hobbs Group Advisors LLC lifted its position in shares of American Tower by 51.0% during the 3rd quarter. Hobbs Group Advisors LLC now owns 222 shares of the real estate investment trust's stock valued at $52,000 after acquiring an additional 75 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by corporate insiders.

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American Tower Stock Up 2.7 %

American Tower stock traded up $5.56 during mid-day trading on Friday, hitting $212.49. 3,599,419 shares of the company's stock were exchanged, compared to its average volume of 2,227,224. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a market cap of $99.29 billion, a P/E 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. The stock has a 50 day moving average of $189.60 and a two-hundred day moving average of $206.30.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.83. The company 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 firm's revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business posted $2.29 earnings per share. As a group, analysts anticipate that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.20%. The ex-dividend date is Friday, April 11th. This is a boost from American Tower's previous quarterly dividend of $1.62. American Tower's dividend payout ratio (DPR) is presently 134.72%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Scotiabank cut their price objective on American Tower from $236.00 to $220.00 and set a "sector outperform" rating for the company in a research report on Thursday, January 23rd. Morgan Stanley reduced their target price on American Tower from $219.00 to $213.00 and set an "equal weight" rating for the company in a report on Monday, February 24th. BMO Capital Markets increased their target price on American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. JMP Securities assumed coverage on American Tower in a report 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. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, American Tower presently has a consensus rating of "Moderate Buy" and an average target price of $225.21.

American Tower Company 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.