American Tower Co. (NYSE:AMT) Shares Sold by Fulton Breakefield Broenniman LLC

Fulton Breakefield Broenniman LLC lowered its position in American Tower Co. (NYSE:AMT) by 5.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,680 shares of the real estate investment trust’s stock after selling 100 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in American Tower were worth $308,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC grew its stake in shares of American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 78 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of American Tower in the 3rd quarter valued at approximately $30,000. Hara Capital LLC acquired a new stake in shares of American Tower in the third quarter worth $31,000. Legacy Investment Solutions LLC acquired a new stake in shares of American Tower during the third quarter worth approximately $34,000. Finally, Activest Wealth Management grew its holdings in shares of American Tower by 431.0% during the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AMT. Scotiabank cut their target price on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday, January 23rd. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Wells Fargo & Company cut their target price on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. JMP Securities initiated coverage on American Tower in a report on Monday. They set an “outperform” rating and a $225.00 target price for the company. Finally, Barclays decreased their price objective on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $226.23.

Insiders Place Their Bets

In related news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the sale, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is currently owned by company insiders.

American Tower Trading Down 2.6 %

Shares of NYSE:AMT opened at $187.06 on Wednesday. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The company has a market capitalization of $87.41 billion, a PE ratio of 78.93, a P/E/G ratio of 1.24 and a beta of 0.84. The business’s fifty day simple moving average is $191.94 and its 200-day simple moving average is $211.14.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The business had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.58 EPS. As a group, equities research analysts predict that American Tower Co. will post 10.15 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio is currently 273.42%.

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.