Watershed Private Wealth LLC Makes New Investment in American Tower Co. (NYSE:AMT)

Watershed Private Wealth LLC bought a new position in American Tower Co. (NYSE:AMTFree Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 961 shares of the real estate investment trust’s stock, valued at approximately $207,000.

Several other institutional investors have also bought and sold shares of AMT. Alera Investment Advisors LLC increased its position in shares of American Tower by 1.3% during the 4th quarter. Alera Investment Advisors LLC now owns 4,105 shares of the real estate investment trust’s stock worth $886,000 after purchasing an additional 51 shares in the last quarter. First Business Financial Services Inc. increased its holdings in American Tower by 1.3% during the 3rd quarter. First Business Financial Services Inc. now owns 4,290 shares of the real estate investment trust’s stock valued at $705,000 after purchasing an additional 55 shares in the last quarter. Northcape Wealth Management LLC raised its position in American Tower by 0.5% in the 3rd quarter. Northcape Wealth Management LLC now owns 10,521 shares of the real estate investment trust’s stock valued at $1,730,000 after purchasing an additional 56 shares during the last quarter. Augustine Asset Management Inc. grew its holdings in shares of American Tower by 0.8% during the fourth quarter. Augustine Asset Management Inc. now owns 7,092 shares of the real estate investment trust’s stock worth $1,531,000 after purchasing an additional 56 shares during the last quarter. Finally, McIlrath & Eck LLC increased its stake in shares of American Tower by 13.9% in the fourth quarter. McIlrath & Eck LLC now owns 459 shares of the real estate investment trust’s stock valued at $99,000 after buying an additional 56 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Down 1.0 %

Shares of American Tower stock traded down $1.88 during trading on Friday, reaching $184.49. The stock had a trading volume of 3,158,133 shares, compared to its average volume of 2,779,536. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.39. The company has a market capitalization of $86.15 billion, a price-to-earnings ratio of 41.74, a P/E/G ratio of 1.47 and a beta of 0.71. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $219.10. The stock has a fifty day moving average price of $188.37 and a two-hundred day moving average price of $194.93.

American Tower (NYSE:AMTGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.47). The business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.79 billion. American Tower had a return on equity of 18.45% and a net margin of 18.42%. American Tower’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.54 earnings per share. Sell-side analysts predict that American Tower Co. will post 9.96 EPS for the current fiscal year.

American Tower Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders 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 dividend on an annualized basis and a yield of 3.51%. American Tower’s dividend payout ratio is 146.61%.

Analysts Set New Price Targets

AMT has been the topic of a number of research reports. Barclays upped their target price on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. JPMorgan Chase & Co. dropped their price objective on American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. BMO Capital Markets reduced their target price on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Mizuho initiated coverage on shares of American Tower in a report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price objective on the stock. Finally, Morgan Stanley upped their target price on shares of American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $221.91.

Read Our Latest Stock Report on AMT

Insiders Place Their Bets

In other American Tower news, Director Robert D. Hormats sold 700 shares of the stock in a transaction 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 owns 7,332 shares in the company, valued at $1,345,422. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Robert D. Hormats sold 700 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 7,332 shares of the company’s stock, valued at $1,345,422. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the transaction, the director now directly owns 18,545 shares in the company, valued at $3,532,080.70. The disclosure for this sale can be found here. Insiders have sold 17,264 shares of company stock valued at $3,458,757 in the last 90 days. 0.18% of the stock is currently owned by insiders.

American Tower Profile

(Free Report)

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.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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