My Legacy Advisors LLC Buys 149 Shares of American Tower Co. (NYSE:AMT)

My Legacy Advisors LLC grew its stake in shares of American Tower Co. (NYSE:AMT) by 5.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,026 shares of the real estate investment trust’s stock after acquiring an additional 149 shares during the period. My Legacy Advisors LLC’s holdings in American Tower were worth $546,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Intech Investment Management LLC grew its holdings in American Tower by 725.8% in the 2nd quarter. Intech Investment Management LLC now owns 45,583 shares of the real estate investment trust’s stock valued at $8,860,000 after buying an additional 40,063 shares in the last quarter. Ieq Capital LLC increased its position in American Tower by 15.3% during the second quarter. Ieq Capital LLC now owns 16,689 shares of the real estate investment trust’s stock worth $3,244,000 after acquiring an additional 2,220 shares during the period. AE Wealth Management LLC raised its stake in American Tower by 7.5% in the 2nd quarter. AE Wealth Management LLC now owns 17,102 shares of the real estate investment trust’s stock worth $3,324,000 after purchasing an additional 1,198 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in American Tower by 0.5% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 92,856 shares of the real estate investment trust’s stock valued at $18,049,000 after purchasing an additional 503 shares during the period. Finally, Capstone Triton Financial Group LLC grew its position in shares of American Tower by 7.3% during the 2nd quarter. Capstone Triton Financial Group LLC now owns 6,650 shares of the real estate investment trust’s stock worth $1,293,000 after purchasing an additional 451 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group dropped their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. JPMorgan Chase & Co. upped their target price on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Barclays decreased their price target on American Tower from $251.00 to $215.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. Finally, StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $230.67.

American Tower Stock Performance

NYSE AMT opened at $190.51 on Friday. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The stock has a market cap of $89.02 billion, a PE ratio of 80.39, a PEG ratio of 1.16 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. The firm’s fifty day moving average price is $192.86 and its two-hundred day moving average price is $211.29.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share 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 firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the prior year, the firm earned $2.58 EPS. The company’s revenue was down 10.5% on a year-over-year basis. On average, equities analysts expect that American Tower Co. will post 10.15 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s payout ratio is 273.42%.

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.