SOA Wealth Advisors LLC. Buys Shares of 150 American Tower Co. (NYSE:AMT)

SOA Wealth Advisors LLC. purchased a new stake in American Tower Co. (NYSE:AMT) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 150 shares of the real estate investment trust’s stock, valued at approximately $30,000.

Other institutional investors have also modified their holdings of the company. Cross Staff Investments Inc boosted its holdings in shares of American Tower by 5.1% in the 4th quarter. Cross Staff Investments Inc now owns 5,027 shares of the real estate investment trust’s stock valued at $1,085,000 after buying an additional 244 shares in the last quarter. Gateway Investment Advisers LLC boosted its stake in American Tower by 57.7% in the 4th quarter. Gateway Investment Advisers LLC now owns 35,751 shares of the real estate investment trust’s stock worth $7,718,000 after purchasing an additional 13,074 shares in the last quarter. Anchor Capital Advisors LLC boosted its stake in American Tower by 38.1% in the 4th quarter. Anchor Capital Advisors LLC now owns 76,625 shares of the real estate investment trust’s stock worth $16,542,000 after purchasing an additional 21,139 shares in the last quarter. TD Asset Management Inc boosted its stake in American Tower by 23.2% in the 4th quarter. TD Asset Management Inc now owns 275,428 shares of the real estate investment trust’s stock worth $59,459,000 after purchasing an additional 51,882 shares in the last quarter. Finally, FAS Wealth Partners Inc. acquired a new stake in American Tower during the 4th quarter valued at approximately $2,001,000. 92.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AMT has been the subject of several recent research reports. Scotiabank cut their target price on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a report on Wednesday, May 1st. Morgan Stanley lifted their target price on shares of American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Raymond James raised shares of American Tower from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $226.00 to $248.00 in a report on Wednesday, May 1st. BMO Capital Markets cut their price target on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. lowered their target price on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and a consensus price target of $220.91.

Insiders Place Their Bets

In other American Tower news, Director Robert D. Hormats sold 700 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $183.50, for a total transaction of $128,450.00. Following the sale, the director now directly owns 7,332 shares in the company, valued at $1,345,422. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Robert D. Hormats sold 700 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 7,332 shares in the company, valued at $1,345,422. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sanjay Goel sold 3,504 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the sale, the executive vice president now owns 28,413 shares in the company, valued at $5,692,828.68. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

American Tower Trading Up 0.4 %

NYSE AMT opened at $194.89 on Friday. The firm’s 50-day moving average is $186.08 and its two-hundred day moving average is $195.64. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10. The company has a debt-to-equity ratio of 3.39, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $91.01 billion, a P/E ratio of 44.09, a PEG ratio of 1.38 and a beta of 0.79.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). The company 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 quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.54 EPS. On average, sell-side analysts anticipate that American Tower Co. will post 10.03 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 14th will be paid a dividend of $1.62 per share. The ex-dividend date is Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a yield of 3.32%. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

American Tower Company 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.