Bogart Wealth LLC Boosts Stock Position in American Tower Co. (NYSE:AMT)

Bogart Wealth LLC grew its position in shares of American Tower Co. (NYSE:AMT) by 1,153.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 326 shares of the real estate investment trust’s stock after purchasing an additional 300 shares during the period. Bogart Wealth LLC’s holdings in American Tower were worth $70,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Cross Staff Investments Inc grew its position in American Tower by 5.1% in the fourth quarter. Cross Staff Investments Inc now owns 5,027 shares of the real estate investment trust’s stock valued at $1,085,000 after acquiring an additional 244 shares in the last quarter. Gateway Investment Advisers LLC boosted its position in American Tower by 57.7% in the 4th 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. Anchor Capital Advisors LLC grew its stake in shares of American Tower by 38.1% during the fourth quarter. Anchor Capital Advisors LLC now owns 76,625 shares of the real estate investment trust’s stock valued at $16,542,000 after acquiring an additional 21,139 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of American Tower by 0.5% during the third quarter. Victory Capital Management Inc. now owns 177,288 shares of the real estate investment trust’s stock worth $29,155,000 after acquiring an additional 806 shares during the last quarter. Finally, FAS Wealth Partners Inc. acquired a new position in shares of American Tower in the fourth quarter worth about $2,001,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Rodney M. Smith sold 11,510 shares of American Tower 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction dated Wednesday, March 6th. The shares were 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 directly owns 62,969 shares in the company, valued at $12,953,352.99. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert D. Hormats sold 700 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $183.50, for a total transaction of $128,450.00. Following the completion of the sale, the director now directly owns 7,332 shares of the company’s stock, valued at approximately $1,345,422. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,264 shares of company stock worth $3,458,757. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AMT shares. JPMorgan Chase & Co. cut their target price on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Scotiabank cut their price target on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating on the stock in a report on Wednesday, May 1st. Mizuho initiated coverage on shares of American Tower in a report on Monday, April 8th. They set a “neutral” rating and a $205.00 price objective for the company. Raymond James upgraded shares of American Tower from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $226.00 to $248.00 in a research note on Wednesday, May 1st. Finally, Morgan Stanley lifted their price target on American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, American Tower currently has an average rating of “Moderate Buy” and a consensus target price of $221.91.

American Tower Stock Performance

Shares of American Tower stock traded up $5.15 on Thursday, reaching $186.48. 306,449 shares of the company were exchanged, compared to its average volume of 2,437,900. The firm has a market cap of $86.96 billion, a price-to-earnings ratio of 41.02, a P/E/G ratio of 1.43 and a beta of 0.71. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.85 and a current ratio of 0.85. The company’s 50-day moving average is $188.86 and its two-hundred day moving average is $195.09.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.47). American Tower had a return on equity of 18.45% and a net margin of 18.42%. The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same period in the prior year, the business earned $2.54 earnings per share. American Tower’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, research analysts expect that American Tower Co. will post 9.96 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were given a $1.62 dividend. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $6.48 annualized dividend and a yield of 3.47%. American Tower’s dividend payout ratio is presently 146.61%.

American Tower 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.