CreativeOne Wealth LLC Boosts Stock Position in American Tower Co. (NYSE:AMT)

CreativeOne Wealth LLC lifted its position in American Tower Co. (NYSE:AMT) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,601 shares of the real estate investment trust’s stock after purchasing an additional 54 shares during the quarter. CreativeOne Wealth LLC’s holdings in American Tower were worth $477,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMT. Roxbury Financial LLC acquired a new stake in American Tower during the 4th quarter valued at approximately $32,000. Graney & King LLC acquired a new position in American Tower during the fourth quarter valued at $32,000. Crowley Wealth Management Inc. purchased a new stake in American Tower in the fourth quarter valued at $37,000. Bank of Jackson Hole Trust acquired a new stake in American Tower during the 4th quarter worth about $46,000. Finally, Versant Capital Management Inc raised its stake in shares of American Tower by 113.9% during the 4th quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 139 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

NYSE AMT opened at $223.03 on Friday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The company has a market cap of $104.26 billion, a PE ratio of 94.10, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. The stock’s 50 day simple moving average is $208.33 and its 200-day simple moving average is $202.65.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.83. The company had revenue of $2.55 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $2.29 EPS. As a group, equities 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 announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.05%. This is a positive change from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. American Tower’s dividend payout ratio (DPR) is 141.37%.

Analyst Ratings Changes

Several analysts recently commented on AMT shares. Barclays raised their target price on American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Morgan Stanley started coverage on shares of American Tower in a research note on Tuesday, April 1st. They issued an “overweight” rating and a $250.00 target price for the company. Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Finally, BMO Capital Markets upped their price objective on shares of American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $232.07.

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.