Flagship Harbor Advisors LLC Sells 156 Shares of American Tower Co. (NYSE:AMT)

Flagship Harbor Advisors LLC lowered its position in shares of American Tower Co. (NYSE:AMT) by 2.3% in the fourth quarter, HoldingsChannel reports. The fund owned 6,590 shares of the real estate investment trust’s stock after selling 156 shares during the period. Flagship Harbor Advisors LLC’s holdings in American Tower were worth $1,209,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. CX Institutional raised its holdings in American Tower by 2.9% in the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock valued at $450,000 after acquiring an additional 54 shares in the last quarter. Palumbo Wealth Management LLC increased its position in shares of American Tower by 1.6% in the third quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock worth $864,000 after purchasing an additional 57 shares during the period. Rehmann Capital Advisory Group raised its stake in American Tower by 4.2% in the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock valued at $332,000 after purchasing an additional 58 shares in the last quarter. Sivia Capital Partners LLC lifted its position in American Tower by 5.3% during the third quarter. Sivia Capital Partners LLC now owns 1,179 shares of the real estate investment trust’s stock worth $274,000 after purchasing an additional 59 shares during the period. Finally, Fullcircle Wealth LLC grew its stake in American Tower by 1.2% during the third quarter. Fullcircle Wealth LLC now owns 5,053 shares of the real estate investment trust’s stock worth $1,123,000 after buying an additional 61 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

American Tower Trading Down 0.7 %

Shares of NYSE AMT opened at $185.17 on Monday. The firm has a 50 day moving average price of $192.08 and a two-hundred day moving average price of $211.14. 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 52-week low of $170.46 and a 52-week 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.

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 analysts’ consensus estimates of $2.45 by ($1.56). The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.58 earnings per share. As a group, equities analysts forecast that American Tower Co. will post 10.15 EPS for the current year.

American Tower Dividend Announcement

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

Analyst Ratings Changes

AMT has been the subject of several analyst reports. Scotiabank dropped their target price on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday. 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. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Barclays reduced their price objective on American Tower from $251.00 to $215.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Finally, BMO Capital Markets lowered their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Four 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $226.42.

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.