Kingswood Wealth Advisors LLC Cuts Stock Position in American Tower Co. (NYSE:AMT)

Kingswood Wealth Advisors LLC decreased its holdings in American Tower Co. (NYSE:AMT) by 41.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,205 shares of the real estate investment trust’s stock after selling 3,703 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in American Tower were worth $1,029,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of American Tower by 0.3% during the third quarter. Vanguard Group Inc. now owns 60,930,583 shares of the real estate investment trust’s stock worth $10,020,034,000 after acquiring an additional 196,942 shares during the period. Cohen & Steers Inc. grew its stake in shares of American Tower by 3.7% during the 4th quarter. Cohen & Steers Inc. now owns 16,440,715 shares of the real estate investment trust’s stock worth $3,549,366,000 after purchasing an additional 583,892 shares during the period. Wellington Management Group LLP increased its holdings in American Tower by 21.9% in the fourth quarter. Wellington Management Group LLP now owns 15,823,622 shares of the real estate investment trust’s stock valued at $3,416,004,000 after buying an additional 2,839,570 shares in the last quarter. Morgan Stanley increased its stake in American Tower by 3.7% in the 3rd quarter. Morgan Stanley now owns 7,269,957 shares of the real estate investment trust’s stock valued at $1,195,545,000 after purchasing an additional 258,030 shares in the last quarter. Finally, Akre Capital Management LLC raised its stake in shares of American Tower by 0.5% during the 4th quarter. Akre Capital Management LLC now owns 6,804,599 shares of the real estate investment trust’s stock worth $1,468,977,000 after buying an additional 36,375 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. 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 report on Monday, April 15th. JPMorgan Chase & Co. cut their price target on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Raymond James raised American Tower from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $226.00 to $248.00 in a report on Wednesday, May 1st. BMO Capital Markets lowered their price objective on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Finally, Mizuho assumed coverage on American Tower in a research report on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price on the stock. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $220.91.

Insider Buying and Selling at American Tower

In other American Tower news, EVP Sanjay Goel sold 3,504 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total transaction of $702,061.44. Following the transaction, the executive vice president now owns 28,413 shares in the company, valued at approximately $5,692,828.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Robert D. Hormats sold 700 shares of American Tower stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $183.50, for a total transaction of $128,450.00. Following the sale, the director now directly owns 7,332 shares in the company, valued at approximately $1,345,422. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Sanjay Goel sold 3,504 shares of American Tower stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total value of $702,061.44. Following the transaction, the executive vice president now directly owns 28,413 shares in the company, valued at $5,692,828.68. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

American Tower Trading Down 0.0 %

AMT stock traded down $0.01 during trading on Wednesday, hitting $192.67. The company had a trading volume of 1,734,104 shares, compared to its average volume of 2,429,020. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.39. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10. The stock has a market cap of $89.97 billion, a price-to-earnings ratio of 43.59, a PEG ratio of 1.37 and a beta of 0.79. The firm has a 50-day moving average price of $186.86 and a 200-day moving average price of $195.23.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.54 earnings per share. As a group, analysts predict that American Tower Co. will post 10.03 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $6.48 annualized dividend and a dividend yield of 3.36%. American Tower’s dividend payout ratio is presently 146.61%.

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.