Values Added Financial LLC Purchases Shares of 953 American Tower Co. (NYSE:AMT)

Values Added Financial LLC purchased a new stake in American Tower Co. (NYSE:AMT) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 953 shares of the real estate investment trust’s stock, valued at approximately $206,000.

A number of other large investors also recently modified their holdings of AMT. Ritholtz Wealth Management raised its stake in shares of American Tower by 174.6% during the fourth quarter. Ritholtz Wealth Management now owns 6,532 shares of the real estate investment trust’s stock worth $1,410,000 after buying an additional 4,153 shares during the last quarter. MJP Associates Inc. ADV increased its stake in American Tower by 33.6% in the fourth quarter. MJP Associates Inc. ADV now owns 2,658 shares of the real estate investment trust’s stock valued at $574,000 after purchasing an additional 668 shares in the last quarter. Altfest L J & Co. Inc. increased its stake in American Tower by 19.1% in the fourth quarter. Altfest L J & Co. Inc. now owns 6,863 shares of the real estate investment trust’s stock valued at $1,482,000 after purchasing an additional 1,102 shares in the last quarter. LaFleur & Godfrey LLC bought a new stake in American Tower in the fourth quarter valued at approximately $248,000. Finally, Cornell Pochily Investment Advisors Inc. increased its stake in American Tower by 7.8% in the fourth quarter. Cornell Pochily Investment Advisors Inc. now owns 3,294 shares of the real estate investment trust’s stock valued at $711,000 after purchasing an additional 238 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at American Tower

In related news, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction of $962,584.84. Following the completion of the sale, the director now owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction of $962,584.84. Following the transaction, the director now owns 18,545 shares in the company, valued at approximately $3,532,080.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the completion of the sale, the chief financial officer now owns 62,969 shares in the company, valued at $12,953,352.99. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

American Tower Price Performance

American Tower stock opened at $197.59 on Friday. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.29. The business’s 50 day simple moving average is $196.21 and its 200 day simple moving average is $192.09. The company has a market cap of $92.15 billion, a price-to-earnings ratio of 62.14, a PEG ratio of 1.37 and a beta of 0.68.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($1.16). American Tower had a return on equity of 12.80% and a net margin of 13.31%. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the previous year, the company posted $2.34 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. Sell-side analysts forecast that American Tower Co. will post 10.08 EPS for the current year.

American Tower Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Thursday, April 11th. American Tower’s dividend payout ratio is 213.84%.

Analyst Ratings Changes

AMT has been the subject of several recent analyst reports. HSBC started coverage on shares of American Tower in a research note on Thursday, December 14th. They issued a “buy” rating and a $245.00 target price for the company. JPMorgan Chase & Co. dropped their price objective on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Barclays raised their price objective on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Finally, BMO Capital Markets dropped their price objective on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, American Tower has a consensus rating of “Moderate Buy” and an average price target of $217.55.

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.