Yoder Wealth Management Inc. Buys New Position in American Tower Co. (NYSE:AMT)

Yoder Wealth Management Inc. purchased a new position in shares of American Tower Co. (NYSE:AMT) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,497 shares of the real estate investment trust’s stock, valued at approximately $296,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new stake in shares of American Tower during the first quarter worth about $25,000. Gold Investment Management Ltd. purchased a new position in shares of American Tower in the 4th quarter valued at approximately $28,000. Thompson Investment Management Inc. acquired a new position in shares of American Tower in the fourth quarter valued at approximately $29,000. SOA Wealth Advisors LLC. acquired a new stake in shares of American Tower during the first quarter worth $30,000. Finally, Private Wealth Management Group LLC purchased a new position in American Tower in the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. BMO Capital Markets reduced their target price on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Barclays cut their target price on American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Mizuho began coverage on American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 price target on the stock. Scotiabank reduced their target price on American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a report on Wednesday, May 1st. Finally, Morgan Stanley upped their price target on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.67.

American Tower Price Performance

American Tower stock traded up $2.52 during mid-day trading on Wednesday, hitting $194.79. 1,182,068 shares of the company were exchanged, compared to its average volume of 2,403,042. The company has a debt-to-equity ratio of 3.39, a current ratio of 0.85 and a quick ratio of 0.85. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $219.10. The business’s 50 day simple moving average is $189.02 and its two-hundred day simple moving average is $194.69. The company has a market capitalization of $90.96 billion, a P/E ratio of 44.07, a PEG ratio of 1.39 and a beta of 0.81.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.47). The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.54 EPS. Analysts forecast that American Tower Co. will post 10.03 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be given a $1.62 dividend. The ex-dividend date is Friday, June 14th. This represents a $6.48 annualized dividend and a dividend yield of 3.33%. American Tower’s dividend payout ratio is presently 146.61%.

Insider Activity at American Tower

In related news, EVP Sanjay Goel sold 3,504 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total value of $702,061.44. Following the transaction, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Robert D. Hormats sold 700 shares of American Tower stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $183.50, for a total transaction of $128,450.00. Following the transaction, the director now owns 7,332 shares in the company, valued at approximately $1,345,422. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sanjay Goel sold 3,504 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total value of $702,061.44. Following the completion of the sale, the executive vice president now owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

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.