Roberts Wealth Advisors LLC Buys New Stake in American Tower Co. (NYSE:AMT)

Roberts Wealth Advisors LLC bought a new stake in American Tower Co. (NYSE:AMT – Get Rating) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 12,694 shares of the real estate investment trust’s stock, valued at approximately $2,725,000. American Tower comprises 1.3% of Roberts Wealth Advisors LLC’s holdings, making the stock its 25th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMT. McGowan Group Asset Management Inc. boosted its holdings in American Tower by 4.4% in the 2nd quarter. McGowan Group Asset Management Inc. now owns 902 shares of the real estate investment trust’s stock valued at $230,000 after purchasing an additional 38 shares during the period. Hotaling Investment Management LLC boosted its holdings in American Tower by 0.3% in the 2nd quarter. Hotaling Investment Management LLC now owns 14,220 shares of the real estate investment trust’s stock valued at $3,634,000 after purchasing an additional 41 shares during the period. Personal Capital Advisors Corp boosted its holdings in American Tower by 1.7% in the 1st quarter. Personal Capital Advisors Corp now owns 2,510 shares of the real estate investment trust’s stock valued at $631,000 after purchasing an additional 43 shares during the period. Clearstead Advisors LLC boosted its holdings in American Tower by 0.4% in the 2nd quarter. Clearstead Advisors LLC now owns 10,727 shares of the real estate investment trust’s stock valued at $2,742,000 after purchasing an additional 48 shares during the period. Finally, Kolinsky Wealth Management LLC boosted its holdings in American Tower by 5.3% in the 3rd quarter. Kolinsky Wealth Management LLC now owns 965 shares of the real estate investment trust’s stock valued at $207,000 after purchasing an additional 49 shares during the period. 89.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. StockNews.com assumed coverage on shares of American Tower in a report on Thursday. They set a “hold” rating for the company. Raymond James reduced their price objective on shares of American Tower from $233.00 to $227.00 and set an “outperform” rating for the company in a report on Friday, February 24th. Credit Suisse Group reduced their price objective on shares of American Tower from $251.00 to $244.00 and set an “outperform” rating for the company in a report on Friday, February 24th. Wells Fargo & Company raised their price objective on shares of American Tower from $225.00 to $245.00 in a report on Wednesday, December 14th. Finally, Truist Financial cut their price target on shares of American Tower from $325.00 to $275.00 and set a “buy” rating for the company in a report on Friday, January 13th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $260.31.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 1,574 shares of the business’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $233.92, for a total value of $368,190.08. Following the sale, the chief financial officer now owns 47,071 shares of the company’s stock, valued at $11,010,848.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Rodney M. Smith sold 1,574 shares of the business’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $233.92, for a total transaction of $368,190.08. Following the transaction, the chief financial officer now directly owns 47,071 shares in the company, valued at $11,010,848.32. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Samme L. Thompson sold 1,739 shares of the business’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $218.59, for a total transaction of $380,128.01. Following the transaction, the director now owns 22,099 shares in the company, valued at $4,830,620.41. The disclosure for this sale can be found here. Insiders have sold a total of 8,587 shares of company stock valued at $1,947,849 over the last 90 days. 0.24% of the stock is owned by corporate insiders.

American Tower Stock Down 1.8 %

AMT traded down $3.70 during trading on Friday, reaching $201.35. The company had a trading volume of 3,456,929 shares, compared to its average volume of 2,081,971. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.54 and a quick ratio of 0.54. American Tower Co. has a 12 month low of $178.17 and a 12 month high of $282.47. The business’s fifty day moving average price is $212.26 and its 200 day moving average price is $215.78. The company has a market cap of $93.76 billion, a P/E ratio of 52.44, a PEG ratio of 2.11 and a beta of 0.56.

American Tower (NYSE:AMT – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The real estate investment trust reported ($1.47) earnings per share for the quarter, missing analysts’ consensus estimates of $2.16 by ($3.63). The company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.68 billion. American Tower had a net margin of 16.49% and a return on equity of 15.80%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.18 EPS. Equities analysts anticipate that American Tower Co. will post 9.24 EPS for the current year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, April 14th will be given a $1.56 dividend. This represents a $6.24 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Thursday, April 13th. American Tower’s dividend payout ratio is presently 162.50%.

About American Tower

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American Tower Corp. provides real estate investment services, and owns, operates, and develops multi-tenant real estate properties. It offers leasing of space on communications sites to wireless service providers, radio and television broadcast companies. It operates through the following segments: U.S.