American Tower Co. (NYSE:AMT) Shares Bought by Enterprise Financial Services Corp

Enterprise Financial Services Corp increased its position in American Tower Co. (NYSE:AMT) by 22.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,478 shares of the real estate investment trust’s stock after acquiring an additional 447 shares during the period. Enterprise Financial Services Corp’s holdings in American Tower were worth $454,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Argentarii LLC acquired a new stake in shares of American Tower in the 4th quarter worth about $227,000. OFI Invest Asset Management bought a new position in American Tower in the 4th quarter valued at about $20,673,000. Personal CFO Solutions LLC grew its position in American Tower by 18.7% in the 4th quarter. Personal CFO Solutions LLC now owns 1,749 shares of the real estate investment trust’s stock valued at $321,000 after buying an additional 276 shares in the last quarter. Rialto Wealth Management LLC bought a new position in American Tower in the 4th quarter valued at about $103,000. Finally, HM Payson & Co. boosted its position in shares of American Tower by 0.3% during the 4th quarter. HM Payson & Co. now owns 33,711 shares of the real estate investment trust’s stock valued at $6,183,000 after purchasing an additional 96 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Transactions at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the sale, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.18% of the company’s stock.

American Tower Stock Performance

American Tower stock opened at $212.49 on Friday. The stock has a 50-day simple moving average of $189.60 and a 200 day simple moving average of $206.30. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The stock has a market capitalization of $99.29 billion, a price-to-earnings ratio of 89.66, a P/E/G ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.83. The business had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.29 earnings per share. On average, research analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be given a dividend of $1.70 per share. This is a positive change from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Friday, April 11th. American Tower’s payout ratio is presently 134.72%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Barclays reduced their price objective on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Morgan Stanley decreased their target price on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Scotiabank reduced their price target on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday, January 23rd. Citigroup reduced their price target on shares of American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Finally, JMP Securities assumed coverage on shares of American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target for the company. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $225.21.

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.