Stonegate Investment Group LLC Decreases Stock Position in American Tower Co. (NYSE:AMT)

Stonegate Investment Group LLC trimmed its stake in shares of American Tower Co. (NYSE:AMTFree Report) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,293 shares of the real estate investment trust’s stock after selling 84 shares during the quarter. Stonegate Investment Group LLC’s holdings in American Tower were worth $1,143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BCK Partners Inc. purchased a new position in shares of American Tower in the first quarter worth $2,892,000. Fairfield Bush & CO. boosted its holdings in shares of American Tower by 138.9% during the first quarter. Fairfield Bush & CO. now owns 2,829 shares of the real estate investment trust’s stock worth $711,000 after purchasing an additional 1,645 shares during the period. Cetera Investment Advisers increased its holdings in American Tower by 5.7% during the 1st quarter. Cetera Investment Advisers now owns 14,413 shares of the real estate investment trust’s stock valued at $3,621,000 after purchasing an additional 771 shares during the period. Sequoia Financial Advisors LLC raised its position in American Tower by 33.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,015 shares of the real estate investment trust’s stock valued at $757,000 after purchasing an additional 756 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its holdings in American Tower by 1.4% in the 1st quarter. Loomis Sayles & Co. L P now owns 152,723 shares of the real estate investment trust’s stock worth $38,367,000 after buying an additional 2,071 shares during the period. Institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the subject of several research analyst reports. BMO Capital Markets dropped their target price on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. HSBC assumed coverage on shares of American Tower in a report on Thursday, December 14th. They set a “buy” rating and a $245.00 price target on the stock. Barclays increased their price objective on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. JPMorgan Chase & Co. reduced their target price on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Finally, StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $215.90.

Read Our Latest Stock Analysis on American Tower

Insider Buying and Selling

In related news, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction of $962,584.84. Following the completion of the transaction, the director now directly owns 18,545 shares in the company, valued at $3,532,080.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Rodney M. Smith sold 11,510 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the completion of the transaction, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction of $962,584.84. Following the completion of the sale, the director now directly owns 18,545 shares in the company, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.

American Tower Stock Down 0.4 %

NYSE:AMT opened at $192.18 on Wednesday. The company has a 50-day moving average of $195.53 and a 200 day moving average of $192.61. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10. The firm has a market cap of $89.62 billion, a PE ratio of 60.43, a price-to-earnings-growth ratio of 1.34 and a beta of 0.67. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMTGet Free Report) last released its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.34 earnings per share. As a group, research analysts anticipate that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a yield of 3.37%. American Tower’s payout ratio is 213.84%.

American Tower Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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