Lineweaver Wealth Advisors LLC Boosts Stock Holdings in American Tower Co. (NYSE:AMT)

Lineweaver Wealth Advisors LLC grew its holdings in American Tower Co. (NYSE:AMT) by 11.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,344 shares of the real estate investment trust’s stock after buying an additional 441 shares during the period. Lineweaver Wealth Advisors LLC’s holdings in American Tower were worth $798,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also bought and sold shares of AMT. State Street Corp grew its stake in American Tower by 3.1% during the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock worth $4,924,091,000 after purchasing an additional 635,726 shares in the last quarter. Geode Capital Management LLC grew its position in shares of American Tower by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust’s stock valued at $2,599,074,000 after buying an additional 204,426 shares during the last quarter. FMR LLC increased its position in shares of American Tower by 25.4% during the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after purchasing an additional 2,152,646 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in American Tower by 4.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,208,967 shares of the real estate investment trust’s stock valued at $1,211,397,000 after buying an additional 243,061 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in American Tower by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,422,273 shares of the real estate investment trust’s stock worth $981,455,000 after purchasing an additional 38,436 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Performance

NYSE:AMT opened at $200.75 on Thursday. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a market capitalization of $93.81 billion, a P/E ratio of 84.70, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a 50-day moving average price of $186.16 and a two-hundred day moving average price of $206.96.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same period last year, the company posted $2.29 EPS. The company’s revenue was up 3.7% on a year-over-year basis. As a group, research analysts expect that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were given a $1.62 dividend. The ex-dividend date was Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.23%. American Tower’s dividend payout ratio is currently 273.42%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AMT. The Goldman Sachs Group decreased their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Citizens Jmp raised American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Morgan Stanley lowered their target price on American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a research note on Monday. Citigroup cut their price target on American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Finally, JMP Securities began coverage on shares of American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price objective on the stock. Four analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $225.21.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were 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 directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.18% of the company’s stock.

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.