Castle Rock Wealth Management LLC purchased a new position in shares of American Tower Corp (NYSE:AMT) in the fourth quarter, Holdings Channel reports. The fund purchased 2,000 shares of the real estate investment trust’s stock, valued at approximately $345,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quantamental Technologies LLC purchased a new position in shares of American Tower during the 4th quarter valued at about $25,000. Lavaca Capital LLC purchased a new position in shares of American Tower during the 4th quarter valued at about $27,000. WESPAC Advisors SoCal LLC purchased a new position in shares of American Tower during the 4th quarter valued at about $27,000. Acima Private Wealth LLC purchased a new position in shares of American Tower during the 4th quarter valued at about $27,000. Finally, Citizens Financial Group Inc RI increased its stake in shares of American Tower by 62.0% in the 4th quarter. Citizens Financial Group Inc RI now owns 196 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 75 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

AMT has been the subject of several recent analyst reports. Macquarie restated a “buy” rating and issued a $210.00 price target on shares of American Tower in a research note on Thursday, February 28th. Bank of America lifted their price target on American Tower from $172.00 to $208.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Morgan Stanley lowered American Tower from an “overweight” rating to an “equal weight” rating and set a $170.00 price target for the company. in a research note on Wednesday, December 12th. Edward Jones lowered American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, March 13th. Finally, Oppenheimer lowered American Tower from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 28th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $176.88.

AMT opened at $194.09 on Thursday. American Tower Corp has a one year low of $133.53 and a one year high of $196.79. The company has a market capitalization of $86.04 billion, a P/E ratio of 24.29, a price-to-earnings-growth ratio of 1.65 and a beta of 0.67. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.68 and a current ratio of 0.68.

American Tower (NYSE:AMT) last released its quarterly earnings data on Wednesday, February 27th. The real estate investment trust reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($1.63). American Tower had a net margin of 16.62% and a return on equity of 19.86%. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the company posted $0.51 earnings per share. The company’s revenue was up 25.0% on a year-over-year basis. As a group, analysts anticipate that American Tower Corp will post 7.53 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Thursday, April 11th will be given a $0.90 dividend. This is a positive change from American Tower’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Wednesday, April 10th. This represents a $3.60 dividend on an annualized basis and a yield of 1.85%. American Tower’s payout ratio is presently 42.05%.

In other American Tower news, EVP Olivier Puech sold 1,169 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $188.18, for a total value of $219,982.42. Following the sale, the executive vice president now owns 19,147 shares of the company’s stock, valued at $3,603,082.46. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Samme L. Thompson sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $157.11, for a total value of $314,220.00. Following the completion of the sale, the director now directly owns 20,625 shares in the company, valued at approximately $3,240,393.75. The disclosure for this sale can be found here. In the last three months, insiders sold 89,253 shares of company stock worth $15,216,065. 0.87% of the stock is owned by corporate insiders.

COPYRIGHT VIOLATION WARNING: “Castle Rock Wealth Management LLC Purchases New Stake in American Tower Corp (AMT)” was posted by Watch List News and is the sole property of of Watch List News. If you are viewing this piece of content on another publication, it was illegally copied and reposted in violation of United States & international copyright laws. The original version of this piece of content can be read at https://www.watchlistnews.com/castle-rock-wealth-management-llc-purchases-new-stake-in-american-tower-corp-amt/2923419.html.

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 170,000 communications sites.

Read More: Reverse Stock Split

Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corp (NYSE:AMT).

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

Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.