Lindbrook Capital LLC Sells 328 Shares of American Tower Co. (NYSE:AMT)

Lindbrook Capital LLC lowered its stake in American Tower Co. (NYSE:AMT) by 8.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,608 shares of the real estate investment trust’s stock after selling 328 shares during the period. Lindbrook Capital LLC’s holdings in American Tower were worth $662,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Rehmann Capital Advisory Group increased its position in shares of 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 worth $332,000 after purchasing an additional 58 shares during the period. Precedent Wealth Partners LLC increased its position in shares of American Tower by 4.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock worth $235,000 after purchasing an additional 58 shares during the period. Resonant Capital Advisors LLC increased its position in shares of American Tower by 5.8% in the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock worth $206,000 after purchasing an additional 61 shares during the period. Calamos Wealth Management LLC increased its position in shares of American Tower by 2.9% in the fourth quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust’s stock worth $398,000 after purchasing an additional 61 shares during the period. Finally, Sunburst Financial Group LLC increased its position in shares of American Tower by 4.9% in the fourth quarter. Sunburst Financial Group LLC now owns 1,354 shares of the real estate investment trust’s stock worth $248,000 after purchasing an additional 63 shares during the period. Institutional investors own 92.69% of the company’s stock.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by corporate insiders.

American Tower Stock Performance

Shares of AMT stock opened at $206.89 on Friday. The business’s 50-day moving average price is $188.99 and its 200-day moving average price is $206.45. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The firm has a market capitalization of $96.68 billion, a price-to-earnings ratio of 87.29, a PEG ratio of 1.29 and a beta of 0.85. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

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

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.29%. This is an increase from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio (DPR) is 134.72%.

Wall Street Analyst Weigh In

AMT has been the topic of a number of recent analyst reports. Scotiabank decreased their price target on 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. Citigroup reduced their price objective on American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. Morgan Stanley reduced their price objective on American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. BMO Capital Markets raised their price objective on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company reduced their price objective on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and an average target price of $225.21.

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.