Wealth Enhancement Advisory Services LLC Has $51.86 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Wealth Enhancement Advisory Services LLC increased its position in shares of American Tower Co. (NYSE:AMT) by 0.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 282,751 shares of the real estate investment trust’s stock after acquiring an additional 282 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in American Tower were worth $51,859,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Douglas Lane & Associates LLC boosted its position in shares of American Tower by 5.1% during the 4th quarter. Douglas Lane & Associates LLC now owns 431,261 shares of the real estate investment trust’s stock worth $79,098,000 after acquiring an additional 21,084 shares in the last quarter. Fulton Bank N.A. boosted its position in shares of American Tower by 37.1% during the 4th quarter. Fulton Bank N.A. now owns 3,339 shares of the real estate investment trust’s stock worth $612,000 after acquiring an additional 904 shares in the last quarter. Park National Corp OH boosted its position in shares of American Tower by 5.6% during the 4th quarter. Park National Corp OH now owns 48,622 shares of the real estate investment trust’s stock worth $8,918,000 after acquiring an additional 2,564 shares in the last quarter. Canandaigua National Trust Co of Florida boosted its position in American Tower by 16.1% in the fourth quarter. Canandaigua National Trust Co of Florida now owns 5,063 shares of the real estate investment trust’s stock valued at $929,000 after buying an additional 702 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. boosted its position in American Tower by 5.9% in the fourth quarter. Ables Iannone Moore & Associates Inc. now owns 16,749 shares of the real estate investment trust’s stock valued at $3,072,000 after buying an additional 938 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. BMO Capital Markets cut their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Mizuho cut their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday. Barclays cut their target price on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. The Goldman Sachs Group cut their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Finally, Scotiabank cut their target price on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and a consensus price target of $233.67.

American Tower Price Performance

Shares of AMT opened at $173.54 on Friday. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market capitalization of $81.09 billion, a price-to-earnings ratio of 73.22, a price-to-earnings-growth ratio of 1.31 and a beta of 0.84. The business has a 50-day moving average of $194.98 and a 200-day moving average of $211.65.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter last year, the business earned $2.58 earnings per share. American Tower’s revenue was down 10.5% compared to the same quarter last year. As a group, equities research analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be issued a $1.62 dividend. The ex-dividend date is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.73%. American Tower’s payout ratio is currently 273.42%.

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.