Hemington Wealth Management Has $253,000 Stock Position in American Tower Co. (NYSE:AMT)

Hemington Wealth Management lowered its holdings in shares of American Tower Co. (NYSE:AMT) by 16.9% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,280 shares of the real estate investment trust’s stock after selling 260 shares during the period. Hemington Wealth Management’s holdings in American Tower were worth $253,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Howland Capital Management LLC increased its holdings in American Tower by 0.4% in the 1st quarter. Howland Capital Management LLC now owns 200,285 shares of the real estate investment trust’s stock worth $39,574,000 after purchasing an additional 871 shares in the last quarter. SPC Financial Inc. increased its holdings in American Tower by 12.4% in the 1st quarter. SPC Financial Inc. now owns 2,090 shares of the real estate investment trust’s stock worth $413,000 after purchasing an additional 231 shares in the last quarter. Richardson Financial Services Inc. increased its holdings in American Tower by 65.2% in the 1st quarter. Richardson Financial Services Inc. now owns 2,652 shares of the real estate investment trust’s stock worth $524,000 after purchasing an additional 1,047 shares in the last quarter. Catalina Capital Group LLC acquired a new position in American Tower in the 1st quarter worth about $276,000. Finally, Larson Financial Group LLC increased its holdings in American Tower by 72.6% in the 1st quarter. Larson Financial Group LLC now owns 202 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 85 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AMT shares. BMO Capital Markets lowered their target price on American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Scotiabank lowered their target price on American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a report on Wednesday, May 1st. The Goldman Sachs Group began coverage on American Tower in a research note on Monday, July 1st. They issued a “buy” rating and a $230.00 price target for the company. Raymond James raised American Tower from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $226.00 to $248.00 in a research note on Wednesday, May 1st. Finally, Mizuho began coverage on American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $221.67.

American Tower Trading Up 5.3 %

Shares of American Tower stock traded up $10.46 on Thursday, hitting $207.23. 2,256,029 shares of the company’s stock traded hands, compared to its average volume of 2,372,148. American Tower Co. has a one year low of $154.58 and a one year high of $219.10. The company has a debt-to-equity ratio of 3.39, a current ratio of 0.85 and a quick ratio of 0.85. The company has a fifty day moving average of $191.67 and a two-hundred day moving average of $194.11. The company has a market capitalization of $96.77 billion, a price-to-earnings ratio of 46.88, a price-to-earnings-growth ratio of 1.40 and a beta of 0.81.

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

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 14th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $6.48 annualized dividend and a yield of 3.13%. American Tower’s payout ratio is currently 146.61%.

Insiders Place Their Bets

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

About American Tower

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.