Petros Family Wealth LLC Invests $560,000 in American Tower Co. (NYSE:AMT)

Petros Family Wealth LLC purchased a new position in shares of American Tower Co. (NYSE:AMT - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,051 shares of the real estate investment trust's stock, valued at approximately $560,000.

Other large investors have also bought and sold shares of the company. Roxbury Financial LLC purchased a new stake in American Tower during the fourth quarter worth about $32,000. Graney & King LLC bought a new stake in shares of American Tower in the 4th quarter worth approximately $32,000. Crowley Wealth Management Inc. purchased a new position in American Tower in the fourth quarter valued at approximately $37,000. Bank of Jackson Hole Trust purchased a new stake in American Tower in the fourth quarter worth $46,000. Finally, Versant Capital Management Inc raised its stake in shares of American Tower by 113.9% in the fourth quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust's stock valued at $48,000 after buying an additional 139 shares during the period. 92.69% of the stock is currently owned by institutional investors.

American Tower Trading Up 0.0 %

NYSE:AMT traded up $0.07 during mid-day trading on Tuesday, reaching $217.86. 3,641,929 shares of the company's stock traded hands, compared to its average volume of 2,464,416. The firm has a market capitalization of $101.84 billion, a price-to-earnings ratio of 91.92, a PEG ratio of 1.29 and a beta of 0.87. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The company has a 50 day moving average price of $205.92 and a 200-day moving average price of $202.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

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American Tower (NYSE:AMT - Get Free Report) last announced 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 analysts' expectations of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower's quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.29 earnings per share. On average, sell-side analysts predict that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be paid a dividend of $1.70 per share. The ex-dividend date is Friday, April 11th. This represents a $6.80 annualized dividend and a yield of 3.12%. This is a positive change from American Tower's previous quarterly dividend of $1.62. American Tower's payout ratio is presently 141.37%.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 16,567 shares of the firm's 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AMT has been the subject of several recent research reports. Scotiabank decreased their price objective on American Tower from $236.00 to $220.00 and set a "sector outperform" rating for the company in a report on Thursday, January 23rd. Wells Fargo & Company upgraded shares of American Tower from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $210.00 to $230.00 in a research note on Monday, March 17th. Morgan Stanley started coverage on shares of American Tower in a research note on Tuesday, April 1st. They set an "overweight" rating and a $250.00 price target on the stock. Citizens Jmp raised American Tower to a "strong-buy" rating in a report on Monday, January 27th. Finally, Citigroup upped their target price on shares of American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $232.07.

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.