American Tower Co. (NYSE:AMT) Shares Sold by Nicola Wealth Management LTD.

Nicola Wealth Management LTD. cut its holdings in shares of American Tower Co. (NYSE:AMT) by 9.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,481 shares of the real estate investment trust’s stock after selling 800 shares during the period. Nicola Wealth Management LTD.’s holdings in American Tower were worth $1,372,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Hara Capital LLC acquired a new stake in American Tower during the 3rd 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 approximately $34,000. Activest Wealth Management grew its position in shares of 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 buying an additional 125 shares in the last quarter. Roxbury Financial LLC acquired a new stake in shares of American Tower during the fourth quarter worth approximately $32,000. Finally, Hobbs Group Advisors LLC increased its stake in shares of American Tower by 51.0% in the third quarter. Hobbs Group Advisors LLC now owns 222 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 75 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on AMT shares. Mizuho reduced 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. Citigroup reduced their price target on shares of American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. Barclays lowered their price objective on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. The Goldman Sachs Group reduced their target price on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, BMO Capital Markets boosted their price target on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $225.21.

American Tower Stock Performance

Shares of AMT opened at $209.63 on Tuesday. The firm has a fifty day moving average of $187.60 and a 200-day moving average of $206.52. The company has a market cap of $97.96 billion, a price-to-earnings ratio of 88.45, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same period in the previous year, the business posted $2.29 EPS. American Tower’s revenue was up 3.7% on a year-over-year basis. As a group, equities analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.09%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio is currently 134.72%.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction 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. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is owned by company insiders.

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.