GC Wealth Management RIA LLC Grows Stake in American Tower Co. (NYSE:AMT)

GC Wealth Management RIA LLC grew its position in American Tower Co. (NYSE:AMT) by 80.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,915 shares of the real estate investment trust’s stock after purchasing an additional 4,427 shares during the quarter. GC Wealth Management RIA LLC’s holdings in American Tower were worth $1,819,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. King Luther Capital Management Corp grew its holdings in American Tower by 1.0% in the fourth quarter. King Luther Capital Management Corp now owns 227,734 shares of the real estate investment trust’s stock worth $41,769,000 after purchasing an additional 2,192 shares during the last quarter. Sage Mountain Advisors LLC grew its holdings in American Tower by 5.0% in the fourth quarter. Sage Mountain Advisors LLC now owns 2,133 shares of the real estate investment trust’s stock worth $391,000 after purchasing an additional 101 shares during the last quarter. Independent Advisor Alliance grew its holdings in American Tower by 26.1% in the fourth quarter. Independent Advisor Alliance now owns 4,583 shares of the real estate investment trust’s stock worth $841,000 after purchasing an additional 950 shares during the last quarter. Paragon Private Wealth Management LLC grew its holdings in American Tower by 1.2% in the fourth quarter. Paragon Private Wealth Management LLC now owns 6,365 shares of the real estate investment trust’s stock worth $1,167,000 after purchasing an additional 76 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in American Tower by 456.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,124,633 shares of the real estate investment trust’s stock worth $206,269,000 after purchasing an additional 922,701 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 completion of the transaction, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.18% of the company’s stock.

American Tower Price Performance

NYSE:AMT opened at $213.42 on Tuesday. The firm’s fifty day moving average is $190.23 and its two-hundred day moving average is $206.16. The firm has a market cap of $99.77 billion, a price-to-earnings ratio of 90.05, a PEG ratio of 1.29 and a beta of 0.85. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

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. The business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.29 earnings per share. Research analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be given a $1.70 dividend. The ex-dividend date is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.19%. This is an increase from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio is 141.37%.

Analyst Ratings Changes

AMT has been the topic of several analyst reports. Wells Fargo & Company cut their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Scotiabank dropped their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a report on Thursday, January 23rd. Mizuho dropped their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.29.

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.