St. Clair Advisors LLC Makes New Investment in American Tower Co. (NYSE:AMT)

St. Clair Advisors LLC purchased a new position in American Tower Co. (NYSE:AMT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,528 shares of the real estate investment trust’s stock, valued at approximately $2,298,000. American Tower makes up approximately 0.7% of St. Clair Advisors LLC’s portfolio, making the stock its 28th biggest position.

Several other institutional investors have also added to or reduced their stakes in the business. Glenview Trust co boosted its holdings in American Tower by 0.8% in the fourth quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust’s stock worth $1,294,000 after acquiring an additional 54 shares in the last quarter. CreativeOne Wealth LLC boosted its holdings in American Tower by 2.1% in the fourth quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust’s stock worth $477,000 after acquiring an additional 54 shares in the last quarter. Precedent Wealth Partners LLC boosted its holdings in American Tower by 4.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock worth $235,000 after acquiring an additional 58 shares in the last quarter. Safe Harbor Fiduciary LLC boosted its holdings in American Tower by 1.1% in the fourth quarter. Safe Harbor Fiduciary LLC now owns 5,330 shares of the real estate investment trust’s stock worth $978,000 after acquiring an additional 58 shares in the last quarter. Finally, Resonant Capital Advisors LLC boosted its holdings in American Tower by 5.8% in the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock worth $206,000 after acquiring an additional 61 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Up 0.7%

Shares of NYSE:AMT opened at $213.24 on Monday. American Tower Co. has a 12-month low of $172.51 and a 12-month high of $243.56. The company has a market capitalization of $99.83 billion, a PE ratio of 89.97, a PEG ratio of 1.29 and a beta of 0.86. The business has a 50 day moving average of $214.94 and a two-hundred day moving average of $201.47. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.34. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the previous year, the company posted $2.79 earnings per share. American Tower’s revenue for the quarter was down 9.6% on a year-over-year basis. As a group, analysts forecast that American Tower Co. will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Friday, June 13th. American Tower’s payout ratio is 174.81%.

Analysts Set New Price Targets

Several brokerages have weighed in on AMT. Morgan Stanley initiated coverage on American Tower in a report on Tuesday, April 1st. They issued an “overweight” rating and a $250.00 price target for the company. UBS Group upped their target price on American Tower from $245.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Barclays upped their target price on American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Finally, BMO Capital Markets upped their target price on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $239.27.

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.