Kingswood Wealth Advisors LLC Increases Position in American Tower Co. (NYSE:AMT)

Kingswood Wealth Advisors LLC lifted its position in shares of American Tower Co. (NYSE:AMT) by 46.6% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,628 shares of the real estate investment trust’s stock after buying an additional 2,423 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in American Tower were worth $1,483,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Northwest Investment Counselors LLC bought a new stake in American Tower during the 1st quarter valued at approximately $25,000. Gold Investment Management Ltd. purchased a new position in American Tower during the fourth quarter valued at $28,000. SOA Wealth Advisors LLC. bought a new stake in American Tower in the 1st quarter valued at $30,000. Private Wealth Management Group LLC bought a new position in shares of American Tower during the 4th quarter valued at about $31,000. Finally, Rational Advisors LLC purchased a new position in shares of American Tower during the first quarter valued at about $35,000. Institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wells Fargo & Company increased their price target on American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on shares of American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. BMO Capital Markets reaffirmed an “outperform” rating and set a $246.00 price target (up previously from $225.00) on shares of American Tower in a research note on Wednesday, July 31st. Barclays reduced their target price on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Finally, Morgan Stanley boosted 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, April 15th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $230.42.

American Tower Stock Down 1.0 %

Shares of AMT traded down $2.19 during mid-day trading on Wednesday, hitting $225.97. The company’s stock had a trading volume of 3,099,759 shares, compared to its average volume of 2,358,969. The firm has a market capitalization of $105.52 billion, a price-to-earnings ratio of 51.71, a PEG ratio of 1.65 and a beta of 0.81. The company’s 50-day moving average is $202.68 and its 200-day moving average is $194.45. The company has a current ratio of 0.81, a quick ratio of 0.85 and a debt-to-equity ratio of 3.42. American Tower Co. has a 52-week low of $154.58 and a 52-week high of $236.13.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.52). American Tower had a return on equity of 23.06% and a net margin of 21.95%. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the previous year, the firm posted $2.46 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. On average, equities research analysts forecast that American Tower Co. will post 10.04 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 14th were issued a dividend of $1.62 per share. The ex-dividend date was Friday, June 14th. This represents a $6.48 annualized dividend and a dividend yield of 2.87%. American Tower’s dividend payout ratio is presently 146.61%.

Insider Transactions at American Tower

In related news, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total value of $4,953,510.00. Following the completion of the transaction, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $233.27, for a total value of $2,333,866.35. Following the completion of the transaction, the executive vice president now directly owns 51,746 shares in the company, valued at $12,070,789.42. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Steven O. Vondran sold 21,537 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total value of $4,953,510.00. Following the completion of the sale, the chief executive officer now owns 61,843 shares in the company, valued at approximately $14,223,890. The disclosure for this sale can be found here. Insiders sold 37,227 shares of company stock valued at $8,497,458 in the last quarter. 0.18% of the stock is currently owned by corporate insiders.

About American Tower

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.