Atria Investments Inc Trims Position in American Tower Co. (NYSE:AMT)

Atria Investments Inc lessened its stake in shares of American Tower Co. (NYSE:AMT) by 15.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 38,031 shares of the real estate investment trust’s stock after selling 6,699 shares during the quarter. Atria Investments Inc’s holdings in American Tower were worth $6,975,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Assetmark Inc. grew its holdings in American Tower by 524.8% during the 4th quarter. Assetmark Inc. now owns 14,770 shares of the real estate investment trust’s stock valued at $2,709,000 after buying an additional 12,406 shares in the last quarter. Victory Capital Management Inc. grew its holdings in American Tower by 3.9% during the 4th quarter. Victory Capital Management Inc. now owns 173,053 shares of the real estate investment trust’s stock valued at $31,740,000 after buying an additional 6,453 shares in the last quarter. Jag Capital Management LLC grew its holdings in American Tower by 1.1% during the 4th quarter. Jag Capital Management LLC now owns 10,561 shares of the real estate investment trust’s stock valued at $1,937,000 after buying an additional 112 shares in the last quarter. SWS Partners grew its holdings in American Tower by 14.6% during the 4th quarter. SWS Partners now owns 9,113 shares of the real estate investment trust’s stock valued at $1,686,000 after buying an additional 1,162 shares in the last quarter. Finally, Torray Investment Partners LLC grew its holdings in American Tower by 16.0% during the 4th quarter. Torray Investment Partners LLC now owns 48,923 shares of the real estate investment trust’s stock valued at $8,973,000 after buying an additional 6,752 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Down 0.9 %

Shares of AMT opened at $206.89 on Friday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The stock has a 50 day simple moving average of $188.99 and a two-hundred day simple moving average of $206.45. The firm has a market cap of $96.68 billion, a P/E ratio of 87.29, a P/E/G ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the previous year, the company posted $2.29 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. On average, analysts forecast that American Tower Co. will post 10.14 earnings per share for the current fiscal 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 given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.29%. This is an increase from American Tower’s previous quarterly dividend of $1.62. American Tower’s payout ratio is presently 134.72%.

Analyst Upgrades and Downgrades

AMT has been the subject of several recent analyst reports. Citigroup cut their price objective on American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a report on Friday, February 14th. Morgan Stanley cut their price objective on American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Wells Fargo & Company cut their price objective on American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Mizuho cut their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, JMP Securities initiated coverage on American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective for the company. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average target price of $225.21.

Insider Buying and Selling at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction that occurred 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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

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.