Orion Portfolio Solutions LLC Has $2.99 Million Position in American Tower Co. (NYSE:AMT)

Orion Portfolio Solutions LLC grew its holdings in shares of American Tower Co. (NYSE:AMT) by 4.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,322 shares of the real estate investment trust’s stock after buying an additional 648 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in American Tower were worth $2,994,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Roxbury Financial LLC bought a new stake in American Tower during the fourth quarter worth $32,000. Graney & King LLC bought a new stake in shares of American Tower in the 4th quarter valued at about $32,000. Legacy Investment Solutions LLC acquired a new stake in American Tower in the 3rd quarter valued at about $34,000. Crowley Wealth Management Inc. bought a new position in American Tower during the fourth quarter worth about $37,000. Finally, Bank of Jackson Hole Trust acquired a new position in American Tower during the fourth quarter worth approximately $46,000. Institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. The Goldman Sachs Group reduced their target price on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Wells Fargo & Company raised shares of American Tower from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $210.00 to $230.00 in a report on Monday, March 17th. Finally, Morgan Stanley lowered their price target on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Three 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. According to data from MarketBeat, American Tower currently has a consensus rating of “Buy” and an average target price of $229.43.

Insider Transactions at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated 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 transaction, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.18% of the stock is owned by insiders.

American Tower Stock Performance

AMT opened at $217.78 on Tuesday. The firm has a market cap of $101.80 billion, a P/E ratio of 91.89, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The business’s fifty day moving average is $199.44 and its 200-day moving average is $204.20. American Tower Co. has a 52-week low of $170.46 and a 52-week 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.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, beating the consensus estimate of $1.79 by $0.83. The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the firm earned $2.29 EPS. Sell-side analysts expect that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Friday, April 11th. This is an increase from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio (DPR) is currently 141.37%.

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.