Defined Wealth Management LLC Has $435,000 Stock Holdings in American Tower Co. (NYSE:AMT)

Defined Wealth Management LLC cut its holdings in shares of American Tower Co. (NYSE:AMT) by 6.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,372 shares of the real estate investment trust’s stock after selling 157 shares during the quarter. Defined Wealth Management LLC’s holdings in American Tower were worth $435,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Bradley Foster & Sargent Inc. CT raised its stake in American Tower by 3.8% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 6,853 shares of the real estate investment trust’s stock valued at $1,332,000 after acquiring an additional 251 shares during the period. Mercer Global Advisors Inc. ADV raised its position in shares of American Tower by 113.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 59,416 shares of the real estate investment trust’s stock valued at $11,549,000 after purchasing an additional 31,616 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of American Tower by 11.0% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,456 shares of the real estate investment trust’s stock valued at $1,449,000 after buying an additional 740 shares in the last quarter. ProVise Management Group LLC boosted its holdings in American Tower by 48.2% in the 2nd quarter. ProVise Management Group LLC now owns 15,221 shares of the real estate investment trust’s stock worth $2,959,000 after buying an additional 4,953 shares during the period. Finally, Intech Investment Management LLC grew its stake in American Tower by 725.8% in the 2nd quarter. Intech Investment Management LLC now owns 45,583 shares of the real estate investment trust’s stock valued at $8,860,000 after buying an additional 40,063 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Insider Activity at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the sale, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is owned by corporate insiders.

American Tower Trading Up 0.2 %

Shares of AMT stock opened at $190.51 on Friday. The stock has a market capitalization of $89.02 billion, a P/E ratio of 80.39, a P/E/G ratio of 1.16 and a beta of 0.84. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm’s 50 day moving average is $193.09 and its 200 day moving average is $211.32. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56.

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

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be given a $1.62 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.40%. American Tower’s payout ratio is 273.42%.

Analyst Ratings Changes

AMT has been the subject of a number of recent analyst reports. The Goldman Sachs Group reduced their target price on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Mizuho cut their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. raised their price target on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Finally, Scotiabank reduced their price objective on 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. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $230.67.

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.