Wealth Alliance Has $980,000 Stock Position in American Tower Co. (NYSE:AMT)

Wealth Alliance boosted its position in American Tower Co. (NYSE:AMT) by 19.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 4,537 shares of the real estate investment trust’s stock after purchasing an additional 735 shares during the period. Wealth Alliance’s holdings in American Tower were worth $980,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. McClarren Financial Advisors Inc. acquired a new stake in American Tower in the 3rd quarter valued at about $27,000. Emerald Advisers LLC acquired a new stake in American Tower in the 3rd quarter valued at about $29,000. Thompson Investment Management Inc. acquired a new stake in American Tower during the fourth quarter worth approximately $29,000. Pinnacle Holdings LLC acquired a new stake in American Tower during the first quarter worth approximately $29,000. Finally, Eagle Bay Advisors LLC acquired a new stake in American Tower during the second quarter worth approximately $30,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMT has been the subject of several research reports. Morgan Stanley raised their price objective on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research report on Monday. Barclays raised their price objective on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. BMO Capital Markets cut their price objective on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. Mizuho assumed coverage on shares of American Tower in a research report on Monday, April 8th. They set a “neutral” rating and a $205.00 price objective for the company. Finally, StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $217.36.

American Tower Stock Performance

Shares of NYSE:AMT opened at $172.19 on Wednesday. The company’s 50 day simple moving average is $193.26 and its 200 day simple moving average is $193.74. The stock has a market capitalization of $80.30 billion, a price-to-earnings ratio of 54.15, a price-to-earnings-growth ratio of 1.24 and a beta of 0.67. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a 1 year low of $154.58 and a 1 year high of $219.10.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same period last year, the business earned $2.34 earnings per share. As a group, research analysts predict that American Tower Co. will post 10.05 EPS for the current fiscal year.

American Tower Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be paid a $1.62 dividend. The ex-dividend date is Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a yield of 3.76%. American Tower’s dividend payout ratio (DPR) is 203.77%.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the sale, the chief financial officer now owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction of $962,584.84. Following the sale, the director now owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the transaction, the chief financial officer now owns 62,969 shares in the company, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

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.