Berman McAleer LLC Buys Shares of 4,254 American Tower Corporation $AMT

Berman McAleer LLC purchased a new stake in American Tower Corporation (NYSE:AMT) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,254 shares of the real estate investment trust’s stock, valued at approximately $825,000.

Other institutional investors have also recently modified their holdings of the company. Analyst IMS Investment Management Services Ltd. raised its holdings in shares of American Tower by 3.6% in the second quarter. Analyst IMS Investment Management Services Ltd. now owns 1,370 shares of the real estate investment trust’s stock worth $303,000 after acquiring an additional 48 shares during the last quarter. Marion Wealth Management increased its position in American Tower by 0.8% during the 2nd quarter. Marion Wealth Management now owns 5,924 shares of the real estate investment trust’s stock worth $1,309,000 after purchasing an additional 48 shares in the last quarter. Cypress Wealth Services LLC raised its stake in American Tower by 1.9% in the 2nd quarter. Cypress Wealth Services LLC now owns 2,684 shares of the real estate investment trust’s stock valued at $593,000 after purchasing an additional 49 shares during the last quarter. YANKCOM Partnership lifted its holdings in American Tower by 2.9% in the 2nd quarter. YANKCOM Partnership now owns 1,729 shares of the real estate investment trust’s stock valued at $382,000 after purchasing an additional 49 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC boosted its stake in shares of American Tower by 2.0% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 2,566 shares of the real estate investment trust’s stock worth $567,000 after purchasing an additional 51 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Price Performance

Shares of NYSE AMT opened at $179.29 on Friday. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.89. American Tower Corporation has a 1-year low of $166.88 and a 1-year high of $234.33. The company has a market capitalization of $83.94 billion, a price-to-earnings ratio of 28.64, a PEG ratio of 0.76 and a beta of 0.92. The business has a 50-day moving average of $177.44 and a 200-day moving average of $190.52.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same period in the previous year, the company earned $2.52 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, December 29th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Monday, December 29th. American Tower’s dividend payout ratio is 108.63%.

Wall Street Analysts Forecast Growth

Several analysts have commented on AMT shares. Scotiabank lowered their target price on shares of American Tower from $248.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday, January 14th. Raymond James Financial lowered their price objective on American Tower from $231.00 to $229.00 and set a “strong-buy” rating for the company in a research report on Friday, January 23rd. Mizuho reduced their target price on American Tower from $217.00 to $189.00 and set a “neutral” rating on the stock in a research report on Monday, January 12th. Barclays restated an “equal weight” rating and issued a $200.00 price target (down previously from $203.00) on shares of American Tower in a report on Monday, December 1st. Finally, Wells Fargo & Company cut their price objective on shares of American Tower from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and a consensus target price of $218.79.

Insider Activity at American Tower

In other American Tower news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the sale, the insider owned 211,379 shares in the company, valued at $14,743,685.25. This represents a 91.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.17% of the company’s stock.

American Tower Profile

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.