Prestige Wealth Management Group LLC Buys 467 Shares of American Tower Co. (NYSE:AMT)

Prestige Wealth Management Group LLC boosted its stake in shares of American Tower Co. (NYSE:AMT) by 7.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,443 shares of the real estate investment trust’s stock after purchasing an additional 467 shares during the period. Prestige Wealth Management Group LLC’s holdings in American Tower were worth $1,192,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Partners Group Holding AG increased its position in American Tower by 8.3% during the fourth quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust’s stock valued at $69,438,000 after acquiring an additional 28,988 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of American Tower by 28.5% in the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after purchasing an additional 314,769 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in American Tower in the third quarter worth about $1,156,000. TigerOak Management L.L.C. bought a new stake in American Tower during the 4th quarter worth approximately $1,102,000. Finally, Brookstone Capital Management increased its stake in shares of American Tower by 29.0% in the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock worth $1,629,000 after purchasing an additional 1,995 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Trading Down 1.6 %

American Tower stock opened at $212.75 on Tuesday. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market cap of $99.45 billion, a PE ratio of 89.77, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The stock has a 50-day moving average of $196.71 and a two-hundred day moving average of $205.10.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, topping 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 net margin of 10.05% and a return on equity of 22.01%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company posted $2.29 earnings per share. On average, research analysts anticipate that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be given a dividend of $1.70 per share. The ex-dividend date is Friday, April 11th. This is a positive change from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a yield of 3.20%. American Tower’s dividend payout ratio (DPR) is currently 141.37%.

Insider Buying and Selling

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 completion of the transaction, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AMT shares. Barclays raised their price target on American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a report on Friday. BMO Capital Markets upped their price target on American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Scotiabank reduced their price target on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a report on Thursday, January 23rd. Wells Fargo & Company raised shares of American Tower from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $210.00 to $230.00 in a report on Monday, March 17th. Finally, Morgan Stanley dropped their price target on American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $229.43.

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.