Atomi Financial Group Inc. Cuts Position in American Tower Co. (NYSE:AMT)

Atomi Financial Group Inc. decreased its position in shares of American Tower Co. (NYSE:AMT) by 9.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,167 shares of the real estate investment trust’s stock after selling 643 shares during the period. Atomi Financial Group Inc.’s holdings in American Tower were worth $1,131,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AMT. FMR LLC raised its holdings in shares of American Tower by 25.4% during the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock valued at $2,474,934,000 after buying an additional 2,152,646 shares in the last quarter. Ameriprise Financial Inc. grew its position in American Tower by 41.8% during the second quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock valued at $1,243,333,000 after acquiring an additional 1,885,421 shares during the last quarter. Adelante Capital Management LLC raised its stake in shares of American Tower by 2,723.4% during the third quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock worth $279,890,000 after acquiring an additional 1,160,890 shares in the last quarter. Pathway Financial Advisers LLC lifted its holdings in shares of American Tower by 23,224.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock worth $231,941,000 after acquiring an additional 993,061 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of American Tower by 22,242.7% during the 3rd quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock valued at $1,811,330,000 after purchasing an additional 775,379 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In other news, CFO Rodney M. Smith sold 16,567 shares of the business’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 sale, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.18% of the stock is owned by insiders.

American Tower Stock Down 0.2 %

Shares of NYSE AMT opened at $189.94 on Wednesday. The firm has a fifty day simple moving average of $192.75 and a two-hundred day simple moving average of $211.51. 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 firm has a market capitalization of $88.76 billion, a PE ratio of 80.14, a price-to-earnings-growth ratio of 1.28 and a beta of 0.84.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.58 earnings per share. Equities analysts expect that American Tower Co. will post 10.15 earnings per share for the current year.

American Tower Dividend Announcement

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 given a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.41%. American Tower’s dividend payout ratio is presently 273.42%.

Wall Street Analyst Weigh In

AMT has been the subject of several recent research reports. Scotiabank lowered their price target on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 30th. Barclays lowered their target price on American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Mizuho reduced their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. The Goldman Sachs Group lowered their price objective on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, BMO Capital Markets cut their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $230.67.

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.