Jackson Square Capital LLC Sells 1,106 Shares of American Tower Co. (NYSE:AMT)

Jackson Square Capital LLC cut its position in American Tower Co. (NYSE:AMTFree Report) by 19.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,453 shares of the real estate investment trust’s stock after selling 1,106 shares during the period. Jackson Square Capital LLC’s holdings in American Tower were worth $817,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Fortitude Family Office LLC lifted its holdings in American Tower by 269.0% during the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 78 shares during the period. Fairscale Capital LLC bought a new stake in American Tower during the second quarter worth about $27,000. Northwest Investment Counselors LLC purchased a new stake in American Tower during the 3rd quarter valued at about $30,000. Hara Capital LLC purchased a new stake in American Tower in the 3rd quarter worth approximately $31,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of American Tower in the 3rd quarter worth approximately $34,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Transactions at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction that occurred on 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 transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.18% of the company’s stock.

American Tower Stock Up 0.2 %

Shares of NYSE:AMT opened at $190.51 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The firm has a market cap 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’s 50-day moving average price is $192.86 and its two-hundred day moving average price is $211.29.

American Tower (NYSE:AMTGet Free Report) last issued its quarterly earnings results 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). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the prior year, the business earned $2.58 earnings per share. American Tower’s revenue was down 10.5% compared to the same quarter last year. As a group, research analysts forecast that American Tower Co. will post 10.15 EPS 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. Stockholders 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 dividend yield of 3.40%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is currently 273.42%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Mizuho reduced their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. The Goldman Sachs Group dropped their target price on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Wells Fargo & Company lowered American Tower from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $245.00 to $230.00 in a report on Thursday, October 10th. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, BMO Capital Markets lowered their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $230.67.

View Our Latest Stock Analysis on American Tower

American Tower Company 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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