American Tower Co. (NYSE:AMT) Stock Holdings Decreased by Capital Investment Advisory Services LLC

Capital Investment Advisory Services LLC reduced its stake in shares of American Tower Co. (NYSE:AMT) by 5.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,249 shares of the real estate investment trust’s stock after selling 118 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in American Tower were worth $485,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in AMT. Daiwa Securities Group Inc. boosted its holdings in shares of American Tower by 2,329.8% during the third quarter. Daiwa Securities Group Inc. now owns 1,329,779 shares of the real estate investment trust’s stock worth $218,682,000 after purchasing an additional 1,275,052 shares during the period. International Assets Investment Management LLC lifted its stake in American Tower by 16,195.9% in the fourth quarter. International Assets Investment Management LLC now owns 849,340 shares of the real estate investment trust’s stock valued at $1,833,560,000 after acquiring an additional 844,128 shares during the last quarter. Wellington Management Group LLP lifted its stake in American Tower by 5.6% in the third quarter. Wellington Management Group LLP now owns 12,984,052 shares of the real estate investment trust’s stock valued at $2,135,227,000 after acquiring an additional 691,934 shares during the last quarter. Clearbridge Investments LLC lifted its stake in American Tower by 22.9% in the third quarter. Clearbridge Investments LLC now owns 3,255,988 shares of the real estate investment trust’s stock valued at $535,447,000 after acquiring an additional 607,199 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in American Tower by 43.9% in the third quarter. Envestnet Asset Management Inc. now owns 1,112,595 shares of the real estate investment trust’s stock valued at $182,966,000 after acquiring an additional 339,646 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AMT. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Barclays lifted their target price on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Mizuho began coverage on shares of American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price for the company. 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 research note on Monday, April 15th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $217.36.

American Tower Trading Up 0.6 %

Shares of AMT stock opened at $172.31 on Tuesday. American Tower Co. has a 1 year low of $154.58 and a 1 year high of $219.10. The firm’s fifty day simple moving average is $191.52 and its 200 day simple moving average is $194.09. The firm has a market capitalization of $80.36 billion, a P/E ratio of 54.19, a price-to-earnings-growth ratio of 1.35 and a beta of 0.67. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.29.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). American Tower had a return on equity of 12.80% and a net margin of 13.31%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same period last year, the firm posted $2.34 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. As a group, sell-side analysts predict that American Tower Co. will post 9.94 EPS for the current year.

American Tower Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date is Thursday, April 11th. American Tower’s dividend payout ratio (DPR) is currently 203.77%.

Insider Buying and Selling

In related news, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction of $962,584.84. Following the transaction, the director now owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the sale, the director now owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the completion of the sale, the chief financial officer now directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

American Tower 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.