Mutual Advisors LLC Sells 552 Shares of American Tower Co. (NYSE:AMT)

Mutual Advisors LLC reduced its position in American Tower Co. (NYSE:AMTFree Report) by 11.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,452 shares of the real estate investment trust’s stock after selling 552 shares during the quarter. Mutual Advisors LLC’s holdings in American Tower were worth $961,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pinnacle Holdings LLC bought a new position in shares of American Tower during the 1st quarter worth about $29,000. Eagle Bay Advisors LLC bought a new position in American Tower during the second quarter worth about $30,000. VitalStone Financial LLC acquired a new stake in American Tower during the first quarter valued at approximately $38,000. McClarren Financial Advisors Inc. bought a new stake in shares of American Tower in the 3rd quarter valued at approximately $27,000. Finally, Lumature Wealth Partners LLC raised its holdings in shares of American Tower by 40.3% in the 1st quarter. Lumature Wealth Partners LLC now owns 174 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 50 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Insider Buying and Selling

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

American Tower Stock Performance

Shares of AMT opened at $194.10 on Wednesday. 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 fifty day simple moving average of $196.64 and a 200 day simple moving average of $191.96. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10. The stock has a market capitalization of $90.52 billion, a price-to-earnings ratio of 61.04, a PEG ratio of 1.35 and a beta of 0.68.

American Tower (NYSE:AMTGet Free Report) last released its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 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 business had revenue of $2.79 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. Research analysts forecast that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be given a dividend of $1.62 per share. The ex-dividend date is Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.34%. American Tower’s payout ratio is 213.84%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. HSBC started coverage on American Tower in a research note on Thursday, December 14th. They set a “buy” rating and a $245.00 price objective for the company. BMO Capital Markets decreased their price objective on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Barclays raised their price target on American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Finally, JPMorgan Chase & Co. cut their price target 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. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.55.

Get Our Latest Analysis on American Tower

American Tower Profile

(Free Report)

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.

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

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