Frank Rimerman Advisors LLC Purchases 254 Shares of American Tower Co. (NYSE:AMT)

Frank Rimerman Advisors LLC increased its position in shares of American Tower Co. (NYSE:AMT) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,352 shares of the real estate investment trust’s stock after purchasing an additional 254 shares during the period. Frank Rimerman Advisors LLC’s holdings in American Tower were worth $798,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AMT. Rehmann Capital Advisory Group increased its holdings in American Tower by 4.2% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock valued at $332,000 after buying an additional 58 shares during the period. Precedent Wealth Partners LLC raised its position in American Tower by 4.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock worth $235,000 after purchasing an additional 58 shares in the last quarter. Resonant Capital Advisors LLC lifted its stake in American Tower by 5.8% during the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock worth $206,000 after purchasing an additional 61 shares during the period. Calamos Wealth Management LLC boosted its holdings in American Tower by 2.9% during the fourth quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust’s stock valued at $398,000 after purchasing an additional 61 shares in the last quarter. Finally, Sunburst Financial Group LLC raised its holdings in shares of American Tower by 4.9% in the 4th quarter. Sunburst Financial Group LLC now owns 1,354 shares of the real estate investment trust’s stock worth $248,000 after buying an additional 63 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMT has been the topic of a number of analyst reports. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Mizuho dropped their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Barclays reduced their price target on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Citigroup raised their price objective on shares of American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Finally, Morgan Stanley reduced their target price 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 investment analysts have rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $226.29.

American Tower Price Performance

Shares of AMT stock opened at $211.02 on Friday. The firm’s 50 day moving average price is $192.33 and its two-hundred day moving average price is $205.82. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market cap of $98.64 billion, a PE ratio of 89.04, a PEG ratio of 1.29 and a beta of 0.85. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (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 firm had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter in the previous year, the company earned $2.29 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, analysts forecast that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Friday, April 11th. This is a boost from American Tower’s previous quarterly dividend of $1.62. American Tower’s payout ratio is 141.37%.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the transaction, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is owned by insiders.

About American Tower

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.