Hennion & Walsh Asset Management Inc. Has $563,000 Stock Holdings in American Tower Co. (NYSE:AMT)

Hennion & Walsh Asset Management Inc. lifted its stake in American Tower Co. (NYSE:AMT) by 11.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,070 shares of the real estate investment trust’s stock after acquiring an additional 305 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in American Tower were worth $563,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of AMT. AE Wealth Management LLC grew its position in shares of American Tower by 7.5% in the 2nd quarter. AE Wealth Management LLC now owns 17,102 shares of the real estate investment trust’s stock valued at $3,324,000 after acquiring an additional 1,198 shares during the period. Profund Advisors LLC lifted its stake in American Tower by 2.9% in the 2nd quarter. Profund Advisors LLC now owns 7,426 shares of the real estate investment trust’s stock valued at $1,443,000 after purchasing an additional 212 shares during the last quarter. Frank Rimerman Advisors LLC grew its holdings in American Tower by 17,200.0% during the second quarter. Frank Rimerman Advisors LLC now owns 3,633 shares of the real estate investment trust’s stock worth $706,000 after purchasing an additional 3,612 shares during the period. Gabelli Funds LLC increased its position in American Tower by 0.6% during the second quarter. Gabelli Funds LLC now owns 107,475 shares of the real estate investment trust’s stock worth $20,891,000 after buying an additional 675 shares during the last quarter. Finally, Fairscale Capital LLC acquired a new stake in shares of American Tower in the second quarter valued at approximately $27,000. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.18% of the stock is currently owned by company insiders.

American Tower Price Performance

American Tower stock opened at $190.51 on Tuesday. The stock’s fifty day moving average price is $192.86 and its two-hundred day moving average price is $211.54. The firm has a market cap of $89.02 billion, a PE ratio of 80.39, a price-to-earnings-growth ratio of 1.16 and a beta of 0.84. 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 Co. has a one year low of $170.46 and a one year high of $243.56.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period last year, the firm earned $2.58 EPS. As a group, research analysts expect that American Tower Co. will post 10.15 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AMT. BMO Capital Markets decreased their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. The Goldman Sachs Group dropped their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Mizuho reduced their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Scotiabank lowered their price target on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 30th. Finally, StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Four 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $230.67.

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.