560 Shares in American Tower Co. (NYSE:AMT) Purchased by Rialto Wealth Management LLC

Rialto Wealth Management LLC purchased a new stake in shares of American Tower Co. (NYSE:AMT) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 560 shares of the real estate investment trust’s stock, valued at approximately $103,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Roxbury Financial LLC bought a new stake in American Tower during the fourth quarter worth about $32,000. Legacy Investment Solutions LLC bought a new stake in shares of American Tower in the 3rd quarter worth approximately $34,000. Activest Wealth Management boosted its position in shares of American Tower by 431.0% in the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 125 shares in the last quarter. Bank of Jackson Hole Trust bought a new position in American Tower during the 4th quarter valued at approximately $46,000. Finally, Versant Capital Management Inc raised its stake in American Tower by 113.9% during the fourth quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 139 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AMT. The Goldman Sachs Group cut their target price on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Scotiabank reduced their price target on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday, January 23rd. JMP Securities initiated coverage on American Tower in a research note on Monday, January 27th. They set an “outperform” rating and a $225.00 target price on the stock. Finally, Morgan Stanley lowered their price target on American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $225.21.

Insider Activity

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

American Tower Stock Performance

AMT opened at $212.49 on Friday. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The company has a market cap of $99.29 billion, a price-to-earnings ratio of 89.66, a PEG ratio of 1.29 and a beta of 0.85. 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 company’s 50 day moving average is $189.60 and its 200 day moving average is $206.30.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, topping the consensus estimate of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same period in the prior year, the business posted $2.29 EPS. American Tower’s revenue was up 3.7% on a year-over-year basis. On average, equities research analysts predict that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 annualized dividend and a dividend yield of 3.20%. This is an increase from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio (DPR) is 134.72%.

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.