CX Institutional Sells 257 Shares of American Tower Co. (NYSE:AMT)

CX Institutional cut its holdings in shares of American Tower Co. (NYSE:AMT) by 13.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,676 shares of the real estate investment trust’s stock after selling 257 shares during the period. CX Institutional’s holdings in American Tower were worth $307,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Fortitude Family Office LLC raised its stake in shares of American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 78 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in American Tower in the third quarter worth about $30,000. Hara Capital LLC purchased a new position in American Tower in the third quarter valued at approximately $31,000. Legacy Investment Solutions LLC purchased a new position in shares of American Tower during the 3rd quarter valued at $34,000. Finally, Activest Wealth Management boosted its position in American Tower by 431.0% during the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 125 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AMT shares. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. The Goldman Sachs Group decreased their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Barclays dropped their price objective on American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. BMO Capital Markets decreased their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, Mizuho dropped their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Four equities research 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 stock. Based on data from MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and an average price target of $226.42.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by corporate insiders.

American Tower Stock Performance

American Tower stock opened at $185.17 on Monday. The firm’s fifty day moving average price is $192.08 and its 200-day moving average price is $211.14. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market cap of $86.53 billion, a P/E ratio of 78.13, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($1.56). The company had revenue of $2.52 billion for the quarter, compared to analysts’ expectations 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 business posted $2.58 EPS. On average, equities research analysts expect that American Tower Co. will post 10.15 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date is Friday, December 27th. American Tower’s payout ratio is presently 273.42%.

American Tower Company 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.