American Tower Co. (NYSE:AMT) Shares Purchased by Accretive Wealth Partners LLC

Accretive Wealth Partners LLC increased its position in shares of American Tower Co. (NYSE:AMT – Get Rating) by 3.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,971 shares of the real estate investment trust’s stock after acquiring an additional 96 shares during the period. Accretive Wealth Partners LLC’s holdings in American Tower were worth $869,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMT. Cassady Schiller Wealth Management LLC acquired a new position in American Tower during the 4th quarter worth about $25,000. Rational Advisors LLC raised its position in American Tower by 140.0% in the 4th quarter. Rational Advisors LLC now owns 84 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 49 shares in the last quarter. Bell Investment Advisors Inc acquired a new stake in American Tower in the 3rd quarter valued at about $27,000. Sandy Cove Advisors LLC acquired a new stake in American Tower in the 4th quarter valued at about $27,000. Finally, Crewe Advisors LLC acquired a new stake in American Tower in the 4th quarter valued at about $28,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

In other American Tower news, CFO Rodney M. Smith sold 25,389 shares of American Tower stock in a transaction that occurred on Thursday, April 21st. The stock was sold at an average price of $270.00, for a total value of $6,855,030.00. Following the transaction, the chief financial officer now directly owns 52,398 shares in the company, valued at approximately $14,147,460. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.24% of the company’s stock.

A number of equities research analysts have issued reports on AMT shares. Wells Fargo & Company increased their price target on American Tower from $250.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, March 11th. Credit Suisse Group dropped their price objective on American Tower from $325.00 to $300.00 and set an “outperform” rating on the stock in a report on Tuesday, March 1st. Deutsche Bank Aktiengesellschaft dropped their price objective on American Tower from $288.00 to $260.00 and set a “hold” rating on the stock in a report on Monday, February 28th. KeyCorp dropped their price objective on American Tower from $311.00 to $286.00 and set an “overweight” rating on the stock in a report on Friday, February 25th. Finally, TheStreet upgraded American Tower from a “c+” rating to a “b” rating in a report on Wednesday, April 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, American Tower has an average rating of “Hold” and a consensus price target of $288.92.

Shares of AMT stock traded up $11.03 during midday trading on Friday, hitting $244.28. The company had a trading volume of 2,853,568 shares, compared to its average volume of 1,869,016. The company’s 50 day simple moving average is $247.02 and its 200 day simple moving average is $253.59. American Tower Co. has a 52-week low of $220.00 and a 52-week high of $303.72. The stock has a market cap of $111.46 billion, a price-to-earnings ratio of 42.26, a PEG ratio of 2.35 and a beta of 0.49. The company has a debt-to-equity ratio of 4.12, a current ratio of 0.51 and a quick ratio of 0.51.

American Tower (NYSE:AMT – Get Rating) last announced its earnings results on Wednesday, April 27th. The real estate investment trust reported $1.56 earnings per share for the quarter, missing the consensus estimate of $2.41 by ($0.85). American Tower had a net margin of 26.72% and a return on equity of 30.44%. The company had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter last year, the business posted $2.46 earnings per share. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. Analysts anticipate that American Tower Co. will post 9.68 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 8th. Shareholders of record on Friday, June 17th will be paid a $1.43 dividend. This is an increase from American Tower’s previous quarterly dividend of $1.40. This represents a $5.72 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Thursday, June 16th. American Tower’s dividend payout ratio (DPR) is 96.89%.

About American Tower (Get Rating)

American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.

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