American Tower Co. (NYSE:AMT) Shares Sold by Signaturefd LLC

Signaturefd LLC trimmed its holdings in American Tower Co. (NYSE:AMT) by 19.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,465 shares of the real estate investment trust’s stock after selling 1,539 shares during the period. Signaturefd LLC’s holdings in American Tower were worth $1,186,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Glenview Trust co raised its position in shares of American Tower by 0.8% in the fourth quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust’s stock valued at $1,294,000 after buying an additional 54 shares during the last quarter. Rehmann Capital Advisory Group raised its position in shares of American Tower by 4.2% in the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock valued at $332,000 after buying an additional 58 shares during the last quarter. Precedent Wealth Partners LLC raised its position in shares of American Tower by 4.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock valued at $235,000 after buying an additional 58 shares during the last quarter. Resonant Capital Advisors LLC grew its holdings in shares of American Tower by 5.8% in the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock valued at $206,000 after purchasing an additional 61 shares during the period. Finally, Calamos Wealth Management LLC grew its holdings in shares of American Tower by 2.9% in the fourth quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust’s stock valued at $398,000 after purchasing an additional 61 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMT has been the subject of a number of analyst reports. Barclays dropped their price objective on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Scotiabank dropped their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. The Goldman Sachs Group dropped their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Mizuho dropped their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, Citigroup upped their price objective on shares of American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a report on Monday, March 10th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $228.79.

Insider Activity at American Tower

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

American Tower Trading Up 1.0 %

NYSE AMT opened at $214.82 on Wednesday. The firm has a 50 day simple moving average of $193.74 and a 200-day simple moving average of $205.54. 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 Co. has a one year low of $170.46 and a one year high of $243.56. The firm has a market cap of $100.42 billion, a price-to-earnings ratio of 90.64, a PEG ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $2.51 billion. During the same quarter last year, the firm posted $2.29 earnings per share. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities research analysts anticipate that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be issued a $1.70 dividend. This is a boost from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. This represents a $6.80 annualized dividend and a yield of 3.17%. American Tower’s dividend payout ratio (DPR) is 141.37%.

American Tower Company 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.