Sugarloaf Wealth Management LLC Increases Stake in American Tower Co. (NYSE:AMT)

Sugarloaf Wealth Management LLC boosted its stake in American Tower Co. (NYSE:AMT) by 14.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,564 shares of the real estate investment trust’s stock after purchasing an additional 2,452 shares during the quarter. Sugarloaf Wealth Management LLC’s holdings in American Tower were worth $3,588,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Fortitude Family Office LLC increased its holdings in shares of American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 78 shares during the last quarter. Fairscale Capital LLC purchased a new stake in American Tower during the second quarter valued at about $27,000. Northwest Investment Counselors LLC acquired a new stake in American Tower during the third quarter worth about $30,000. Hara Capital LLC purchased a new position in shares of American Tower in the 3rd quarter worth about $31,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of American Tower in the 3rd quarter valued at about $34,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Down 2.7 %

NYSE AMT traded down $4.89 on Friday, hitting $174.30. 2,250,527 shares of the stock traded hands, compared to its average volume of 2,253,526. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a 50-day moving average of $195.74 and a 200 day moving average of $211.81. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a market capitalization of $81.45 billion, a P/E ratio of 73.54, a price-to-earnings-growth ratio of 1.31 and a beta of 0.84.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter last year, the business earned $2.58 earnings per share. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, analysts expect that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be issued a $1.62 dividend. The ex-dividend date is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.72%. American Tower’s dividend payout ratio is currently 273.42%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AMT. Wells Fargo & Company downgraded shares of American Tower from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. Scotiabank cut their target price on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, October 30th. Barclays decreased their price target on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. The Goldman Sachs Group cut their price objective on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Finally, StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $233.67.

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.