Tyche Wealth Partners LLC Takes $454,000 Position in American Tower Co. (NYSE:AMT)

Tyche Wealth Partners LLC purchased a new position in shares of American Tower Co. (NYSE:AMT) during the 4th quarter, Holdings Channel.com reports. The fund purchased 2,101 shares of the real estate investment trust’s stock, valued at approximately $454,000.

Several other institutional investors have also modified their holdings of the business. Gateway Investment Advisers LLC increased its holdings in American Tower by 57.7% in the fourth quarter. Gateway Investment Advisers LLC now owns 35,751 shares of the real estate investment trust’s stock valued at $7,718,000 after buying an additional 13,074 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of American Tower by 0.5% during the 3rd quarter. Victory Capital Management Inc. now owns 177,288 shares of the real estate investment trust’s stock valued at $29,155,000 after acquiring an additional 806 shares in the last quarter. PDS Planning Inc boosted its holdings in American Tower by 16.1% in the third quarter. PDS Planning Inc now owns 1,821 shares of the real estate investment trust’s stock worth $299,000 after purchasing an additional 253 shares during the period. FAS Wealth Partners Inc. bought a new stake in American Tower during the fourth quarter valued at $2,001,000. Finally, DNB Asset Management AS raised its holdings in shares of American Tower by 23.0% during the fourth quarter. DNB Asset Management AS now owns 159,805 shares of the real estate investment trust’s stock worth $34,499,000 after purchasing an additional 29,848 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Activity at American Tower

In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the sale, the director now directly owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the sale, the director now directly owns 18,545 shares in the company, valued at approximately $3,532,080.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the sale, the chief financial officer now owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the subject of a number of recent research reports. BMO Capital Markets lowered their price objective on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. JPMorgan Chase & Co. cut their price target on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Morgan Stanley upped their price objective on American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Barclays increased their target price on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $217.36.

American Tower Price Performance

American Tower stock traded down $5.91 during trading hours on Wednesday, hitting $172.21. 3,848,820 shares of the company traded hands, compared to its average volume of 2,378,524. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10. The firm has a market cap of $80.31 billion, a P/E ratio of 54.15, a P/E/G ratio of 1.24 and a beta of 0.67. The firm’s 50-day simple moving average is $193.26 and its two-hundred day simple moving average is $193.74. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. American Tower’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.34 EPS. As a group, analysts forecast that American Tower Co. will post 10.05 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $6.48 annualized dividend and a dividend yield of 3.76%. American Tower’s dividend payout ratio (DPR) is 203.77%.

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.