Legacy Capital Wealth Partners LLC Sells 175 Shares of American Tower Co. (NYSE:AMT)

Legacy Capital Wealth Partners LLC cut its position in American Tower Co. (NYSE:AMT) by 9.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,671 shares of the real estate investment trust’s stock after selling 175 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in American Tower were worth $361,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. McClarren Financial Advisors Inc. acquired a new position in shares of American Tower during the 3rd quarter worth about $27,000. Emerald Advisers LLC bought a new position in American Tower in the 3rd quarter worth approximately $29,000. Thompson Investment Management Inc. acquired a new position in shares of American Tower during the fourth quarter worth approximately $29,000. Brown Shipley& Co Ltd bought a new stake in shares of American Tower in the third quarter valued at approximately $35,000. Finally, Valley National Advisers Inc. grew its stake in shares of American Tower by 200.0% in the fourth quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 118 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Ratings Changes

AMT has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their price target 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. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Morgan Stanley boosted their price target on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Barclays raised their price objective on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Finally, BMO Capital Markets lowered their price objective on American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and an average target price of $217.36.

American Tower Stock Down 0.7 %

AMT opened at $171.69 on Monday. The firm has a market cap of $80.07 billion, a price-to-earnings ratio of 53.99, a PEG ratio of 1.36 and a beta of 0.67. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.69 and a current ratio of 0.69. The firm’s 50-day simple moving average is $190.29 and its 200-day simple moving average is $194.42. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $219.10.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($1.16). American Tower had a return on equity of 12.80% and a net margin of 13.31%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the prior year, the company posted $2.34 earnings per share. American Tower’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities research analysts anticipate that American Tower Co. will post 9.94 EPS for the current fiscal year.

American Tower Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date was Thursday, April 11th. American Tower’s dividend payout ratio is currently 203.77%.

Insider Transactions at American Tower

In related news, Director Pamela D. A. Reeve sold 5,054 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction of $962,584.84. Following the transaction, the director now owns 18,545 shares in the company, valued at approximately $3,532,080.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the transaction, the director now owns 18,545 shares in the company, valued at approximately $3,532,080.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the transaction, the chief financial officer now owns 62,969 shares in the company, valued at $12,953,352.99. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

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.