American Tower Co. (NYSE:AMT) Shares Sold by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC decreased its holdings in American Tower Co. (NYSE:AMT) by 9.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,671 shares of the real estate investment trust’s stock after selling 175 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in American Tower were worth $361,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Jennison Associates LLC grew its position in American Tower by 41.0% during the fourth quarter. Jennison Associates LLC now owns 5,299,306 shares of the real estate investment trust’s stock worth $1,144,014,000 after buying an additional 1,541,029 shares during the period. Daiwa Securities Group Inc. grew its holdings in shares of American Tower by 2,329.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 1,329,779 shares of the real estate investment trust’s stock worth $218,682,000 after acquiring an additional 1,275,052 shares during the period. International Assets Investment Management LLC raised its holdings in American Tower by 16,195.9% during the fourth quarter. International Assets Investment Management LLC now owns 849,340 shares of the real estate investment trust’s stock worth $1,833,560,000 after purchasing an additional 844,128 shares during the last quarter. Wellington Management Group LLP boosted its position in American Tower by 5.6% during the third quarter. Wellington Management Group LLP now owns 12,984,052 shares of the real estate investment trust’s stock worth $2,135,227,000 after purchasing an additional 691,934 shares in the last quarter. Finally, Clearbridge Investments LLC grew its holdings 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 purchasing an additional 607,199 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Down 0.7 %

Shares of NYSE:AMT opened at $171.69 on Monday. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $219.10. The stock’s 50-day moving average price is $190.29 and its two-hundred day moving average price is $194.42. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.29. The firm has a market cap of $80.07 billion, a price-to-earnings ratio of 53.99, a PEG ratio of 1.36 and a beta of 0.67.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $2.74 billion. During the same period in the prior year, the business posted $2.34 earnings per share. American Tower’s revenue was up 3.0% on a year-over-year basis. On average, research analysts forecast that American Tower Co. will post 9.94 EPS for the current year.

American Tower Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend was Thursday, April 11th. American Tower’s dividend payout ratio (DPR) is currently 203.77%.

Insider Activity at American Tower

In other news, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the transaction, the director now directly owns 18,545 shares in the company, valued at approximately $3,532,080.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Pamela D. A. Reeve sold 5,054 shares of the 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 completion of the sale, the director now owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Rodney M. Smith sold 11,510 shares of American Tower 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 transaction, the chief financial officer now owns 62,969 shares in the company, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Mizuho initiated coverage on American Tower in a research note on Monday, April 8th. They set a “neutral” rating and a $205.00 price target for the company. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. BMO Capital Markets dropped their price objective on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. JPMorgan Chase & Co. reduced their target price on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. Finally, Barclays raised their price target on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $217.36.

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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.