Steward Partners Investment Advisory LLC Has $5.79 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Steward Partners Investment Advisory LLC raised its stake in shares of American Tower Co. (NYSE:AMT) by 16.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,559 shares of the real estate investment trust’s stock after buying an additional 4,345 shares during the period. Steward Partners Investment Advisory LLC’s holdings in American Tower were worth $5,788,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AMT. Hara Capital LLC acquired a new position in American Tower in the 3rd quarter worth about $31,000. Legacy Investment Solutions LLC bought a new stake in shares of American Tower in the 3rd quarter valued at approximately $34,000. Activest Wealth Management increased its holdings in American Tower by 431.0% in the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 125 shares during the last quarter. Roxbury Financial LLC bought a new position in American Tower during the fourth quarter valued at approximately $32,000. Finally, Hobbs Group Advisors LLC lifted its stake in American Tower by 51.0% in the third quarter. Hobbs Group Advisors LLC now owns 222 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 75 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a report on Monday, January 27th. Barclays decreased their price target on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. BMO Capital Markets raised their price objective on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company decreased their target price on American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Four 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $225.21.

American Tower Price Performance

NYSE:AMT opened at $209.01 on Thursday. 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 one year low of $170.46 and a one year high of $243.56. The company has a fifty day moving average price of $188.53 and a 200 day moving average price of $206.45. The stock has a market cap of $97.67 billion, a P/E ratio of 88.19, a PEG ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, beating 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 analyst estimates of $2.51 billion. During the same quarter in the prior year, the business earned $2.29 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. Analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was 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 directly 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 document filed 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.