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

Berman McAleer LLC bought a new stake in shares of American Tower Corporation (NYSE:AMT) in the third quarter, Holdings Channel.com reports. The firm bought 4,254 shares of the real estate investment trust’s stock, valued at approximately $825,000.

A number of other hedge funds also recently made changes to their positions in AMT. Abound Wealth Management lifted its stake in shares of American Tower by 137.3% in the 3rd quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 81 shares during the period. Legacy Investment Solutions LLC acquired a new position in shares of American Tower during the second quarter valued at approximately $31,000. Root Financial Partners LLC bought a new stake in American Tower during the third quarter worth approximately $32,000. VSM Wealth Advisory LLC lifted its position in American Tower by 136.4% in the second quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 90 shares during the period. Finally, Salomon & Ludwin LLC boosted its stake in American Tower by 147.9% during the 3rd quarter. Salomon & Ludwin LLC now owns 181 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 108 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

AMT stock opened at $179.29 on Friday. The firm has a 50 day simple moving average of $177.44 and a 200 day simple moving average of $190.52. American Tower Corporation has a 52 week low of $166.88 and a 52 week high of $234.33. The stock has a market cap of $83.94 billion, a P/E ratio of 28.64, a P/E/G ratio of 0.76 and a beta of 0.92. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.89 and a current ratio of 0.89.

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

American Tower Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. New Street Research upgraded American Tower from a “neutral” rating to a “buy” rating and set a $203.00 price objective for the company in a report on Monday, January 5th. Scotiabank reduced their price objective on shares of American Tower from $248.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, January 14th. TD Cowen lowered their price objective on shares of American Tower from $249.00 to $235.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Mizuho cut their target price on shares of American Tower from $217.00 to $189.00 and set a “neutral” rating for the company in a research note on Monday, January 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of American Tower in a research report on Monday, December 29th. One 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $218.79.

Insider Buying and Selling

In other American Tower news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total value of $159,631,314.75. Following the completion of the sale, the insider owned 211,379 shares of the company’s stock, valued at $14,743,685.25. The trade was a 91.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is owned by insiders.

About American Tower

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.