American Tower Co. (NYSE:AMT) Stock Position Lowered by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC trimmed its position in shares of American Tower Co. (NYSE:AMT) by 1.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 70,898 shares of the real estate investment trust’s stock after selling 994 shares during the period. Anchor Capital Advisors LLC’s holdings in American Tower were worth $13,003,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC grew its holdings in shares of 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 valued at $25,000 after buying an additional 78 shares in the last quarter. Hara Capital LLC acquired a new stake in American Tower during the 3rd quarter worth about $31,000. Roxbury Financial LLC purchased a new position in American Tower during the 4th quarter valued at about $32,000. Legacy Investment Solutions LLC acquired a new position in shares of American Tower in the 3rd quarter valued at about $34,000. Finally, Activest Wealth Management lifted its position in shares of American Tower by 431.0% in 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 in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AMT. JMP Securities initiated coverage on shares of American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective on the stock. Barclays dropped their price target on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. The Goldman Sachs Group reduced their price objective 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. Citigroup dropped their target price on American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. Finally, Scotiabank reduced their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $225.21.

American Tower Stock Up 1.7 %

AMT opened at $204.12 on Friday. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. 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 business has a 50 day moving average price of $186.66 and a 200 day moving average price of $206.94. The firm has a market cap of $95.38 billion, a P/E ratio of 86.13, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same period in the previous year, the company earned $2.29 earnings per share. American Tower’s revenue for the quarter was up 3.7% on a year-over-year basis. Research analysts forecast that American Tower Co. will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were paid a $1.62 dividend. The ex-dividend date was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.17%. American Tower’s payout ratio is presently 273.42%.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the firm’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 sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.18% of the stock is owned by insiders.

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.