American Tower Co. (NYSE:AMT) Shares Sold by Exencial Wealth Advisors LLC

Exencial Wealth Advisors LLC lessened its stake in shares of American Tower Co. (NYSE:AMTGet Rating) by 24.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 35,043 shares of the real estate investment trust’s stock after selling 11,393 shares during the quarter. Exencial Wealth Advisors LLC’s holdings in American Tower were worth $10,250,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AMT. Cassady Schiller Wealth Management LLC purchased a new position in American Tower during the fourth quarter worth about $25,000. Rational Advisors LLC boosted its stake in American Tower by 140.0% during the fourth quarter. Rational Advisors LLC now owns 84 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 49 shares during the period. Bell Investment Advisors Inc purchased a new position in American Tower during the third quarter worth about $27,000. Sandy Cove Advisors LLC purchased a new position in American Tower during the fourth quarter worth about $27,000. Finally, Crewe Advisors LLC purchased a new position in American Tower during the fourth quarter worth about $28,000. 91.00% of the stock is owned by institutional investors.

American Tower stock traded up $7.16 during trading on Friday, reaching $232.66. The stock had a trading volume of 2,229,472 shares, compared to its average volume of 1,739,460. American Tower Co. has a 52-week low of $220.00 and a 52-week high of $303.72. The business has a 50 day moving average price of $246.86 and a 200 day moving average price of $255.49. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 4.12. The stock has a market cap of $106.16 billion, a PE ratio of 40.25, a P/E/G ratio of 2.26 and a beta of 0.49.

American Tower (NYSE:AMTGet Rating) last issued its quarterly earnings results on Wednesday, April 27th. The real estate investment trust reported $1.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.41 by ($0.85). American Tower had a return on equity of 30.44% and a net margin of 26.72%. The firm had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the prior year, the firm earned $2.46 EPS. The firm’s revenue was up 23.2% compared to the same quarter last year. On average, equities analysts predict that American Tower Co. will post 9.68 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 29th. Shareholders of record on Wednesday, April 13th were issued a dividend of $1.40 per share. The ex-dividend date was Tuesday, April 12th. This represents a $5.60 dividend on an annualized basis and a yield of 2.41%. This is a boost from American Tower’s previous quarterly dividend of $1.39. American Tower’s dividend payout ratio (DPR) is presently 96.89%.

In other American Tower news, CFO Rodney M. Smith sold 25,389 shares of the firm’s stock in a transaction that occurred on Thursday, April 21st. The shares were sold at an average price of $270.00, for a total transaction of $6,855,030.00. Following the sale, the chief financial officer now owns 52,398 shares of the company’s stock, valued at $14,147,460. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.24% of the stock is currently owned by company insiders.

AMT has been the subject of several research analyst reports. Credit Suisse Group lowered their target price on shares of American Tower from $325.00 to $300.00 and set an “outperform” rating for the company in a research note on Tuesday, March 1st. TheStreet raised shares of American Tower from a “c+” rating to a “b” rating in a research note on Wednesday, April 27th. Cowen lowered their price objective on shares of American Tower from $350.00 to $325.00 in a research note on Friday, February 25th. Barclays lowered their price objective on shares of American Tower from €295.00 ($310.53) to €284.00 ($298.95) in a research note on Friday, March 18th. Finally, Morgan Stanley raised their price objective on shares of American Tower from $274.00 to $275.00 and gave the company an “equal weight” rating in a research note on Thursday, April 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $288.92.

American Tower Profile (Get Rating)

American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.

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

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