Livingston Group Asset Management CO operating as Southport Capital Management Lowers Stock Position in American Tower Corp (NYSE:AMT)

Livingston Group Asset Management CO operating as Southport Capital Management trimmed its holdings in American Tower Corp (NYSE:AMT) by 11.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,672 shares of the real estate investment trust’s stock after selling 360 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in American Tower were worth $614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new stake in shares of American Tower during the third quarter worth $25,000. Country Trust Bank boosted its holdings in American Tower by 289.3% in the 4th quarter. Country Trust Bank now owns 109 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 81 shares in the last quarter. NewSquare Capital LLC boosted its holdings in American Tower by 192.3% in the 2nd quarter. NewSquare Capital LLC now owns 152 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 100 shares in the last quarter. Marquette Asset Management LLC acquired a new position in American Tower during the 3rd quarter worth approximately $33,000. Finally, AdvisorNet Financial Inc increased its position in American Tower by 136.5% during the 3rd quarter. AdvisorNet Financial Inc now owns 175 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 101 shares during the period. 91.63% of the stock is currently owned by institutional investors and hedge funds.

NYSE:AMT traded down $2.40 during trading hours on Thursday, hitting $232.98. The company’s stock had a trading volume of 683,225 shares, compared to its average volume of 1,386,537. The business’s 50-day moving average is $221.85 and its two-hundred day moving average is $218.83. The company has a market capitalization of $103.63 billion, a PE ratio of 29.16, a PEG ratio of 1.51 and a beta of 0.41. The company has a debt-to-equity ratio of 4.40, a quick ratio of 0.53 and a current ratio of 0.53. American Tower Corp has a 52-week low of $162.83 and a 52-week high of $242.00.

American Tower (NYSE:AMT) last released its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.17. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.88 billion. American Tower had a return on equity of 27.12% and a net margin of 20.58%. American Tower’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.85 earnings per share. As a group, analysts predict that American Tower Corp will post 7.64 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Friday, December 27th were given a $1.01 dividend. This is a boost from American Tower’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, December 26th. This represents a $4.04 annualized dividend and a yield of 1.73%. American Tower’s dividend payout ratio is presently 50.56%.

In other American Tower news, EVP Steven O. Vondran sold 1,261 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $229.68, for a total value of $289,626.48. Following the sale, the executive vice president now owns 28,705 shares of the company’s stock, valued at $6,592,964.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Robert Joseph Meyer, Jr. sold 1,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $206.78, for a total transaction of $206,780.00. The disclosure for this sale can be found here. Insiders sold 5,574 shares of company stock valued at $1,250,626 in the last quarter. 0.75% of the stock is currently owned by company insiders.

AMT has been the subject of a number of analyst reports. KeyCorp raised their price target on American Tower from $242.00 to $254.00 and gave the company an “overweight” rating in a report on Friday, January 10th. Goldman Sachs Group upgraded American Tower from a “neutral” rating to a “buy” rating and lifted their price target for the company from $204.00 to $270.00 in a research note on Monday. Morgan Stanley reaffirmed a “hold” rating and set a $218.00 price objective (up previously from $216.00) on shares of American Tower in a report on Friday, November 22nd. ValuEngine cut American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Cowen increased their price objective on American Tower from $238.00 to $260.00 and gave the stock an “in-line” rating in a research report on Friday, November 1st. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $224.36.

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 approximately 171,000 communications sites.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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