American Tower Co. (NYSE:AMT) Shares Sold by IFP Advisors Inc

IFP Advisors Inc cut its holdings in shares of American Tower Co. (NYSE:AMT) by 23.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,923 shares of the real estate investment trust’s stock after selling 2,464 shares during the period. IFP Advisors Inc’s holdings in American Tower were worth $1,453,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. 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 worth $25,000 after buying an additional 78 shares during the last quarter. Hara Capital LLC acquired a new stake in American Tower during the 3rd quarter worth approximately $31,000. Roxbury Financial LLC purchased a new position in shares of American Tower in the 4th quarter valued at approximately $32,000. Legacy Investment Solutions LLC acquired a new position in shares of American Tower in the third quarter valued at approximately $34,000. Finally, Activest Wealth Management raised its stake 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 purchasing an additional 125 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Scotiabank lowered their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research report on Thursday, January 23rd. BMO Capital Markets boosted their price target on shares of American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday. Mizuho reduced their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. JMP Securities started coverage on American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 target price on the stock. Finally, Citizens Jmp raised American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $225.21.

Insider Buying and Selling at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is owned by insiders.

American Tower Stock Down 1.5 %

American Tower stock opened at $200.75 on Thursday. The firm has a market capitalization of $93.81 billion, a price-to-earnings ratio of 84.70, 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 fifty-two week low of $170.46 and a fifty-two week high of $243.56. The stock’s fifty day moving average is $186.16 and its two-hundred day moving average is $206.96.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $2.51 billion. During the same period last year, the firm posted $2.29 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. Analysts predict that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date was Friday, December 27th. American Tower’s payout ratio is currently 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.