Fiduciary Group LLC Has $6.17 Million Position in American Tower Co. (NYSE:AMT)

Fiduciary Group LLC reduced its position in shares of American Tower Co. (NYSE:AMT) by 8.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,636 shares of the real estate investment trust’s stock after selling 3,301 shares during the period. Fiduciary Group LLC’s holdings in American Tower were worth $6,169,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Empowered Funds LLC boosted its holdings in American Tower by 5.4% during the third quarter. Empowered Funds LLC now owns 9,935 shares of the real estate investment trust’s stock worth $2,310,000 after purchasing an additional 508 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of American Tower by 1.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 130,175 shares of the real estate investment trust’s stock worth $30,273,000 after buying an additional 1,453 shares during the last quarter. Caprock Group LLC boosted its stake in shares of American Tower by 46.8% during the 3rd quarter. Caprock Group LLC now owns 11,051 shares of the real estate investment trust’s stock worth $2,570,000 after buying an additional 3,524 shares during the last quarter. Prospera Financial Services Inc boosted its position in American Tower by 1.0% during the third quarter. Prospera Financial Services Inc now owns 16,122 shares of the real estate investment trust’s stock valued at $3,754,000 after purchasing an additional 157 shares during the last quarter. Finally, West Family Investments Inc. boosted its position in American Tower by 16.1% during the third quarter. West Family Investments Inc. now owns 1,381 shares of the real estate investment trust’s stock valued at $321,000 after purchasing an additional 191 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Down 0.5 %

AMT opened at $213.83 on Thursday. The stock has a fifty day moving average of $194.43 and a 200-day moving average of $205.60. The company has a market capitalization of $99.95 billion, a P/E ratio of 90.22, a P/E/G ratio of 1.29 and a beta of 0.85. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same period last year, the firm earned $2.29 earnings per share. American Tower’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Friday, April 11th. This is a positive change from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio (DPR) is 141.37%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Scotiabank cut their price objective on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Mizuho cut their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Barclays cut their target price on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Finally, Citigroup raised their target price on shares of American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $228.79.

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.