Wedmont Private Capital Trims Holdings in American Tower Co. (NYSE:AMT)

Wedmont Private Capital trimmed its position in American Tower Co. (NYSE:AMT – Get Rating) by 23.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,386 shares of the real estate investment trust’s stock after selling 432 shares during the period. Wedmont Private Capital’s holdings in American Tower were worth $303,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMT. Hotaling Investment Management LLC lifted its holdings in shares of American Tower by 0.3% during the 2nd quarter. Hotaling Investment Management LLC now owns 14,220 shares of the real estate investment trust’s stock valued at $3,634,000 after buying an additional 41 shares during the last quarter. Personal Capital Advisors Corp lifted its holdings in shares of American Tower by 1.7% during the 1st quarter. Personal Capital Advisors Corp now owns 2,510 shares of the real estate investment trust’s stock valued at $631,000 after buying an additional 43 shares during the last quarter. Clearstead Advisors LLC lifted its holdings in shares of American Tower by 0.4% during the 2nd quarter. Clearstead Advisors LLC now owns 10,727 shares of the real estate investment trust’s stock valued at $2,742,000 after buying an additional 48 shares during the last quarter. Kolinsky Wealth Management LLC lifted its holdings in shares of American Tower by 5.3% during the 3rd quarter. Kolinsky Wealth Management LLC now owns 965 shares of the real estate investment trust’s stock valued at $207,000 after buying an additional 49 shares during the last quarter. Finally, Lumature Wealth Partners LLC lifted its holdings in shares of American Tower by 40.3% during the 1st quarter. Lumature Wealth Partners LLC now owns 174 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 50 shares during the last quarter. 89.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at American Tower

In other news, Director Samme L. Thompson sold 1,739 shares of the business’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $218.59, for a total transaction of $380,128.01. Following the completion of the sale, the director now owns 22,099 shares in the company, valued at $4,830,620.41. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Samme L. Thompson sold 1,739 shares of the company’s stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $218.59, for a total value of $380,128.01. Following the completion of the sale, the director now owns 22,099 shares in the company, valued at $4,830,620.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Rodney M. Smith sold 2,035 shares of the company’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $220.85, for a total value of $449,429.75. Following the completion of the sale, the chief financial officer now owns 48,645 shares of the company’s stock, valued at approximately $10,743,248.25. The disclosure for this sale can be found here. Insiders sold a total of 8,587 shares of company stock worth $1,947,849 over the last 90 days. 0.24% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on AMT shares. UBS Group cut their price objective on American Tower from $278.00 to $270.00 in a research note on Tuesday, December 13th. Wells Fargo & Company raised their price objective on American Tower from $225.00 to $245.00 in a research note on Wednesday, December 14th. Morgan Stanley raised their price objective on American Tower from $219.00 to $224.00 and gave the company an “equal weight” rating in a research note on Monday, January 23rd. StockNews.com assumed coverage on American Tower in a research note on Thursday. They issued a “hold” rating on the stock. Finally, Raymond James dropped their price target on American Tower from $233.00 to $227.00 and set an “outperform” rating on the stock in a research report on Friday, February 24th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and a consensus price target of $260.31.

American Tower Price Performance

American Tower stock opened at $201.35 on Friday. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a market cap of $93.76 billion, a P/E ratio of 52.44, a P/E/G ratio of 2.17 and a beta of 0.56. The business’s fifty day moving average is $212.26 and its two-hundred day moving average is $215.51. American Tower Co. has a 52 week low of $178.17 and a 52 week high of $282.47.

American Tower (NYSE:AMT – Get Rating) last released its earnings results on Thursday, February 23rd. The real estate investment trust reported ($1.47) earnings per share for the quarter, missing analysts’ consensus estimates of $2.16 by ($3.63). The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.68 billion. American Tower had a return on equity of 15.80% and a net margin of 16.49%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.18 EPS. Equities research analysts forecast that American Tower Co. will post 9.24 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, April 14th will be given a dividend of $1.56 per share. The ex-dividend date of this dividend is Thursday, April 13th. This represents a $6.24 dividend on an annualized basis and a dividend yield of 3.10%. American Tower’s payout ratio is currently 162.50%.

About American Tower

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American Tower Corp. provides real estate investment services, and owns, operates, and develops multi-tenant real estate properties. It offers leasing of space on communications sites to wireless service providers, radio and television broadcast companies. It operates through the following segments: U.S.