Atria Wealth Solutions Inc. Has $4.84 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Atria Wealth Solutions Inc. lifted its stake in shares of American Tower Co. (NYSE:AMT) by 6.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 22,374 shares of the real estate investment trust’s stock after buying an additional 1,335 shares during the period. Atria Wealth Solutions Inc.’s holdings in American Tower were worth $4,841,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AMT. McClarren Financial Advisors Inc. acquired a new stake in shares of American Tower during the 3rd quarter worth $27,000. Emerald Advisers LLC acquired a new stake in shares of American Tower during the 3rd quarter worth $29,000. Thompson Investment Management Inc. acquired a new stake in shares of American Tower during the 4th quarter worth $29,000. Brown Shipley& Co Ltd acquired a new stake in shares of American Tower during the 3rd quarter worth $35,000. Finally, Valley National Advisers Inc. grew its holdings in shares of American Tower by 200.0% during the 4th quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 118 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at American Tower

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

Analysts Set New Price Targets

AMT has been the topic of several research analyst reports. BMO Capital Markets reduced their price objective on American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. JPMorgan Chase & Co. reduced their price objective on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. Barclays raised their price objective on American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Mizuho initiated coverage on American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 price objective on the stock. Finally, StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $217.36.

American Tower Price Performance

American Tower stock opened at $171.63 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.29. The company has a market capitalization of $80.04 billion, a PE ratio of 53.97, a P/E/G ratio of 1.37 and a beta of 0.67. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10. The stock has a 50-day moving average price of $190.29 and a two-hundred day moving average price of $193.97.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing the consensus estimate of $2.10 by ($1.16). The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.34 earnings per share. Analysts expect that American Tower Co. will post 9.94 EPS for the current year.

American Tower Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.78%. 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.