Lokken Investment Group LLC Has $212,000 Holdings in American Tower Co. (NYSE:AMT)

Lokken Investment Group LLC lessened its holdings in American Tower Co. (NYSE:AMT) by 9.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,154 shares of the real estate investment trust’s stock after selling 125 shares during the period. Lokken Investment Group LLC’s holdings in American Tower were worth $212,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Glenview Trust co grew its holdings in shares of American Tower by 0.8% in the 4th quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust’s stock valued at $1,294,000 after acquiring an additional 54 shares in the last quarter. Rehmann Capital Advisory Group boosted its position in American Tower by 4.2% during the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock valued at $332,000 after purchasing an additional 58 shares during the last quarter. Precedent Wealth Partners LLC grew its stake 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 valued at $235,000 after purchasing an additional 58 shares in the last quarter. Resonant Capital Advisors LLC increased its position in shares of American Tower by 5.8% during the 4th 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 last quarter. Finally, Calamos Wealth Management LLC raised its stake in shares of American Tower by 2.9% during the 4th quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust’s stock worth $398,000 after purchasing an additional 61 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the transaction, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the subject of a number of recent analyst reports. Wells Fargo & Company upgraded shares of American Tower from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $210.00 to $230.00 in a research note on Monday, March 17th. BMO Capital Markets lifted their price objective on shares of American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Mizuho decreased their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Barclays raised their target price on shares of American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Finally, Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, American Tower has an average rating of “Buy” and a consensus price target of $229.43.

American Tower Stock Performance

Shares of AMT stock opened at $217.78 on Tuesday. 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 firm has a market cap of $101.80 billion, a price-to-earnings ratio of 91.89, a P/E/G 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. The firm’s 50-day simple moving average is $199.44 and its two-hundred day simple moving average is $204.20.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.83. The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.29 EPS. As a group, equities analysts forecast that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders 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 yield of 3.12%. This is an increase from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio (DPR) is currently 141.37%.

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.