Cypress Wealth Services LLC Takes Position in American Tower Co. (NYSE:AMT)

Cypress Wealth Services LLC bought a new stake in American Tower Co. (NYSE:AMT) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,714 shares of the real estate investment trust’s stock, valued at approximately $339,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Alera Investment Advisors LLC increased its position in American Tower by 1.3% in the 4th quarter. Alera Investment Advisors LLC now owns 4,105 shares of the real estate investment trust’s stock valued at $886,000 after acquiring an additional 51 shares during the period. Allstate Corp increased its position in American Tower by 3.1% in the 4th quarter. Allstate Corp now owns 1,750 shares of the real estate investment trust’s stock valued at $378,000 after acquiring an additional 53 shares during the period. First Business Financial Services Inc. increased its position in American Tower by 1.3% in the 3rd quarter. First Business Financial Services Inc. now owns 4,290 shares of the real estate investment trust’s stock valued at $705,000 after acquiring an additional 55 shares during the period. Augustine Asset Management Inc. increased its position in American Tower by 0.8% in the 4th quarter. Augustine Asset Management Inc. now owns 7,092 shares of the real estate investment trust’s stock valued at $1,531,000 after acquiring an additional 56 shares during the period. Finally, McIlrath & Eck LLC increased its position in American Tower by 13.9% in the 4th quarter. McIlrath & Eck LLC now owns 459 shares of the real estate investment trust’s stock valued at $99,000 after acquiring an additional 56 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In other American Tower news, Director Robert D. Hormats sold 700 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total transaction of $128,450.00. Following the sale, the director now owns 7,332 shares in the company, valued at approximately $1,345,422. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other American Tower news, EVP Sanjay Goel sold 3,504 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the sale, the executive vice president now owns 28,413 shares in the company, valued at approximately $5,692,828.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert D. Hormats sold 700 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $183.50, for a total value of $128,450.00. Following the sale, the director now owns 7,332 shares in the company, valued at approximately $1,345,422. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

American Tower Price Performance

NYSE AMT traded up $2.61 during mid-day trading on Thursday, hitting $195.28. The stock had a trading volume of 1,599,273 shares, compared to its average volume of 2,422,274. American Tower Co. has a 52-week low of $154.58 and a 52-week high of $219.10. The company has a market cap of $91.19 billion, a price-to-earnings ratio of 44.18, a P/E/G ratio of 1.37 and a beta of 0.79. The company has a 50 day simple moving average of $187.27 and a 200 day simple moving average of $195.21. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.39.

American Tower (NYSE:AMT) last released its quarterly earnings data 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 net margin of 18.42% and a return on equity of 18.45%. The firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same period in the previous year, the business earned $2.54 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities analysts forecast that American Tower Co. will post 10.03 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 14th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Friday, June 14th. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

Analyst Ratings Changes

AMT has been the topic of several recent research reports. BMO Capital Markets dropped their price target on American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. JPMorgan Chase & Co. dropped their price target 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. Raymond James raised American Tower from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $226.00 to $248.00 in a research note on Wednesday, May 1st. Morgan Stanley increased their target price 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. Finally, Mizuho assumed coverage on American Tower in a research note on Monday, April 8th. They set a “neutral” rating and a $205.00 target price for the company. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and a consensus price target of $220.91.

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.