RMR Wealth Builders Has $1.22 Million Stake in American Tower Co. (NYSE:AMT)

RMR Wealth Builders lifted its position in shares of American Tower Co. (NYSE:AMT) by 27.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,651 shares of the real estate investment trust’s stock after buying an additional 1,231 shares during the period. RMR Wealth Builders’ holdings in American Tower were worth $1,220,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Cross Staff Investments Inc boosted its stake in shares of American Tower by 5.1% during the 4th quarter. Cross Staff Investments Inc now owns 5,027 shares of the real estate investment trust’s stock worth $1,085,000 after buying an additional 244 shares during the last quarter. Gateway Investment Advisers LLC boosted its position in American Tower by 57.7% during the fourth quarter. Gateway Investment Advisers LLC now owns 35,751 shares of the real estate investment trust’s stock valued at $7,718,000 after purchasing an additional 13,074 shares during the last quarter. Anchor Capital Advisors LLC grew its stake in American Tower by 38.1% in the fourth quarter. Anchor Capital Advisors LLC now owns 76,625 shares of the real estate investment trust’s stock valued at $16,542,000 after purchasing an additional 21,139 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of American Tower by 0.5% during the 3rd quarter. Victory Capital Management Inc. now owns 177,288 shares of the real estate investment trust’s stock worth $29,155,000 after purchasing an additional 806 shares during the last quarter. Finally, FAS Wealth Partners Inc. bought a new stake in shares of American Tower during the 4th quarter worth approximately $2,001,000. 92.69% of the stock is currently owned by institutional investors.

American Tower Trading Up 0.0 %

Shares of NYSE:AMT opened at $181.33 on Thursday. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $219.10. The business has a 50 day moving average of $188.86 and a 200-day moving average of $195.09. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.39. The stock has a market cap of $84.56 billion, a PE ratio of 41.02, a P/E/G ratio of 1.43 and a beta of 0.71.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.47). The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.54 earnings per share. As a group, equities research analysts forecast that American Tower Co. will post 9.96 earnings per share for the current year.

American Tower Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were paid a $1.62 dividend. The ex-dividend date was Thursday, April 11th. This represents a $6.48 annualized dividend and a dividend yield of 3.57%. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

Analysts Set New Price Targets

AMT has been the subject of several analyst reports. Scotiabank decreased their target price on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a research note on Wednesday, May 1st. Morgan Stanley boosted their price objective on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Mizuho began coverage on shares of American Tower in a report on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price on the stock. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Finally, Barclays upped their price objective on American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $221.91.

Insider Buying and Selling

In other news, Director Robert D. Hormats sold 700 shares of American Tower stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $183.50, for a total value of $128,450.00. Following the completion of the sale, the director now directly owns 7,332 shares in the company, valued at $1,345,422. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Robert D. Hormats sold 700 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total value of $128,450.00. Following the transaction, the director now owns 7,332 shares in the company, valued at $1,345,422. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the transaction, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,264 shares of company stock valued at $3,458,757. 0.18% of the stock is owned by company insiders.

American Tower Company 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.