Linscomb Wealth Inc. Has $9.49 Million Position in American Tower Co. (NYSE:AMT)

Linscomb Wealth Inc. lifted its holdings in American Tower Co. (NYSE:AMT) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,761 shares of the real estate investment trust’s stock after buying an additional 498 shares during the period. Linscomb Wealth Inc.’s holdings in American Tower were worth $9,493,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Fortitude Family Office LLC boosted its position in American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 78 shares during the period. Hara Capital LLC purchased a new stake in shares of American Tower in the third quarter worth approximately $31,000. Roxbury Financial LLC acquired a new stake in shares of American Tower during the fourth quarter worth approximately $32,000. Legacy Investment Solutions LLC purchased a new position in American Tower during the third quarter valued at approximately $34,000. Finally, Activest Wealth Management increased its stake in American Tower by 431.0% in the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 125 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Price Performance

Shares of American Tower stock opened at $204.12 on Friday. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The firm has a fifty day simple moving average of $186.66 and a 200-day simple moving average of $206.94. 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 stock has a market capitalization of $95.38 billion, a price-to-earnings ratio of 86.13, a PEG ratio of 1.29 and a beta of 0.84.

American Tower (NYSE:AMT) last released its earnings results 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 firm had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.29 EPS. On average, sell-side analysts expect that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.17%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio is currently 273.42%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Citigroup decreased their target price on shares of American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, February 14th. JMP Securities assumed coverage on American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective for the company. Mizuho dropped their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Morgan Stanley reduced their price target on American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday. Finally, Scotiabank lowered their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research note on Thursday, January 23rd. Four research 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.21.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.