Evoke Wealth LLC Has $272,000 Holdings in American Tower Co. (NYSE:AMT)

Evoke Wealth LLC raised its holdings in shares of American Tower Co. (NYSE:AMT) by 6.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,472 shares of the real estate investment trust’s stock after acquiring an additional 95 shares during the quarter. Evoke Wealth LLC’s holdings in American Tower were worth $272,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Horizon Investments LLC lifted its position in American Tower by 2.2% during the 4th quarter. Horizon Investments LLC now owns 13,137 shares of the real estate investment trust’s stock valued at $2,409,000 after purchasing an additional 284 shares during the period. Advisors Asset Management Inc. increased its stake in shares of American Tower by 0.9% in the 4th quarter. Advisors Asset Management Inc. now owns 107,745 shares of the real estate investment trust’s stock valued at $19,762,000 after acquiring an additional 995 shares during the last quarter. PDS Planning Inc increased its stake in shares of American Tower by 10.1% in the 4th quarter. PDS Planning Inc now owns 2,602 shares of the real estate investment trust’s stock valued at $477,000 after acquiring an additional 239 shares during the last quarter. Retirement Planning Co of New England Inc. increased its stake in shares of American Tower by 3.4% in the 4th quarter. Retirement Planning Co of New England Inc. now owns 3,389 shares of the real estate investment trust’s stock valued at $622,000 after acquiring an additional 111 shares during the last quarter. Finally, 1ST Source Bank increased its stake in shares of American Tower by 11.8% in the 4th quarter. 1ST Source Bank now owns 2,371 shares of the real estate investment trust’s stock valued at $435,000 after acquiring an additional 250 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMT has been the subject of a number of research reports. Barclays lowered their target price on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Mizuho lowered their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Hsbc Global Res raised American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. The Goldman Sachs Group lowered their target price on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, Citigroup upped their price target on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $228.79.

Insider Activity

In other news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is currently owned by company insiders.

American Tower Trading Down 0.5 %

Shares of American Tower stock opened at $213.83 on Thursday. The business has a fifty day simple moving average of $194.43 and a two-hundred day simple moving average of $205.60. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The company has a market capitalization of $99.95 billion, a price-to-earnings ratio of 90.22, a P/E/G ratio of 1.29 and a beta of 0.85. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.83. The business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.29 EPS. Research analysts forecast that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Friday, April 11th. This is a boost from American Tower’s previous quarterly dividend of $1.62. American Tower’s payout ratio is presently 141.37%.

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 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.