Arkadios Wealth Advisors Boosts Stock Holdings in American Tower Co. (REIT) (NYSE:AMT)


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Arkadios Wealth Advisors boosted its position in American Tower Co. (REIT) (NYSE:AMT) by 178.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 925 shares of the real estate investment trust’s stock after purchasing an additional 593 shares during the period. Arkadios Wealth Advisors’ holdings in American Tower were worth $221,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Motco lifted its stake in American Tower by 3.4% in the fourth quarter. Motco now owns 1,371 shares of the real estate investment trust’s stock valued at $308,000 after purchasing an additional 45 shares during the last quarter. People s United Financial Inc. lifted its stake in American Tower by 2.8% in the fourth quarter. People s United Financial Inc. now owns 1,700 shares of the real estate investment trust’s stock valued at $382,000 after purchasing an additional 46 shares during the last quarter. Glenview Trust Co lifted its stake in American Tower by 3.7% in the fourth quarter. Glenview Trust Co now owns 1,312 shares of the real estate investment trust’s stock valued at $295,000 after purchasing an additional 47 shares during the last quarter. Halbert Hargrove Global Advisors LLC lifted its stake in American Tower by 4.7% in the fourth quarter. Halbert Hargrove Global Advisors LLC now owns 1,081 shares of the real estate investment trust’s stock valued at $243,000 after purchasing an additional 49 shares during the last quarter. Finally, Reilly Financial Advisors LLC lifted its stake in American Tower by 4.1% in the fourth quarter. Reilly Financial Advisors LLC now owns 1,268 shares of the real estate investment trust’s stock valued at $285,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds own 89.97% of the company’s stock.

Shares of NYSE:AMT opened at $252.42 on Tuesday. American Tower Co. has a 52-week low of $197.50 and a 52-week high of $272.20. The firm has a fifty day moving average of $240.52 and a 200 day moving average of $229.71. The firm has a market capitalization of $112.17 billion, a PE ratio of 59.67, a price-to-earnings-growth ratio of 1.57 and a beta of 0.25. The company has a debt-to-equity ratio of 5.73, a quick ratio of 1.35 and a current ratio of 1.35.

American Tower (NYSE:AMT) last announced its earnings results on Wednesday, April 28th. The real estate investment trust reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.80). American Tower had a return on equity of 42.42% and a net margin of 24.08%. On average, sell-side analysts forecast that American Tower Co. will post 8.16 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, April 29th. Investors of record on Tuesday, April 13th were given a $1.24 dividend. The ex-dividend date was Monday, April 12th. This is a positive change from American Tower’s previous quarterly dividend of $1.21. This represents a $4.96 annualized dividend and a yield of 1.96%. American Tower’s payout ratio is 64.17%.

In related news, EVP Olivier Puech sold 3,268 shares of the company’s stock in a transaction on Tuesday, March 16th. The shares were sold at an average price of $220.00, for a total value of $718,960.00. Following the completion of the transaction, the executive vice president now directly owns 19,531 shares in the company, valued at $4,296,820. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.65% of the stock is currently owned by insiders.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research cut shares of American Tower from a “buy” rating to a “hold” rating and set a $227.00 target price on the stock. in a report on Tuesday, March 2nd. Wells Fargo & Company boosted their target price on shares of American Tower from $245.00 to $275.00 and gave the company an “overweight” rating in a report on Friday. Cowen lowered their target price on shares of American Tower from $334.00 to $324.00 and set an “outperform” rating on the stock in a report on Friday, February 26th. Morgan Stanley boosted their target price on shares of American Tower from $248.00 to $262.00 and gave the company an “equal weight” rating in a report on Monday, April 26th. Finally, Royal Bank of Canada lowered their target price on shares of American Tower from $275.00 to $250.00 and set an “outperform” rating on the stock in a report on Monday, March 15th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $271.92.

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 approximately 181,000 communications sites.

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

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