American Tower Co. (NYSE:AMT) Stock Position Decreased by Edge Wealth Management LLC

Edge Wealth Management LLC cut its holdings in American Tower Co. (NYSE:AMT) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,314 shares of the real estate investment trust’s stock after selling 625 shares during the quarter. American Tower comprises approximately 2.3% of Edge Wealth Management LLC’s holdings, making the stock its 17th largest position. Edge Wealth Management LLC’s holdings in American Tower were worth $11,429,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AMT. Werlinich Asset Management LLC increased its holdings in shares of American Tower by 1.5% during the 4th quarter. Werlinich Asset Management LLC now owns 8,475 shares of the real estate investment trust’s stock valued at $1,542,000 after acquiring an additional 125 shares during the last quarter. Ritholtz Wealth Management lifted its stake in shares of American Tower by 182.3% in the fourth quarter. Ritholtz Wealth Management now owns 15,365 shares of the real estate investment trust’s stock worth $2,818,000 after buying an additional 9,922 shares during the last quarter. Gateway Investment Advisers LLC grew its stake in American Tower by 0.6% in the 4th quarter. Gateway Investment Advisers LLC now owns 39,241 shares of the real estate investment trust’s stock valued at $7,197,000 after buying an additional 226 shares during the last quarter. Beech Hill Advisors Inc. lifted its position in American Tower by 8.2% during the 4th quarter. Beech Hill Advisors Inc. now owns 12,304 shares of the real estate investment trust’s stock worth $2,257,000 after acquiring an additional 933 shares during the last quarter. Finally, West Coast Financial LLC grew its position in shares of American Tower by 0.8% in the fourth quarter. West Coast Financial LLC now owns 43,332 shares of the real estate investment trust’s stock valued at $7,948,000 after purchasing an additional 365 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

American Tower Stock Up 5.5 %

NYSE AMT opened at $190.26 on Friday. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The company has a market capitalization of $88.91 billion, a price-to-earnings ratio of 80.28, a PEG ratio of 1.16 and a beta of 0.84. The stock’s 50 day moving average is $193.24 and its two-hundred day moving average is $211.46. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same period in the prior year, the firm earned $2.58 EPS. American Tower’s quarterly revenue was down 10.5% compared to the same quarter last year. Equities analysts forecast that American Tower Co. will post 10.15 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s dividend payout ratio is currently 273.42%.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of research analyst reports. Wells Fargo & Company lowered American Tower from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $245.00 to $230.00 in a report on Thursday, October 10th. Mizuho lowered their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Scotiabank decreased their price target on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $230.67.

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.