One Charles Private Wealth Services LLC Cuts Position in American Tower Co. (NYSE:AMT)

One Charles Private Wealth Services LLC decreased its position in shares of American Tower Co. (NYSE:AMT) by 11.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,210 shares of the real estate investment trust’s stock after selling 294 shares during the period. One Charles Private Wealth Services LLC’s holdings in American Tower were worth $405,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMT. Roxbury Financial LLC bought a new stake in American Tower in the 4th quarter worth approximately $32,000. Legacy Investment Solutions LLC purchased a new position in shares of American Tower during the third quarter worth approximately $34,000. Activest Wealth Management lifted its holdings in shares of American Tower by 431.0% in the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 125 shares during the last quarter. Bank of Jackson Hole Trust purchased a new stake in shares of American Tower in the 4th quarter valued at $46,000. Finally, Versant Capital Management Inc grew its holdings in shares of American Tower by 113.9% during the 4th quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 139 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated 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 transaction, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. 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 report on Wednesday, January 8th. Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a report on Thursday, February 27th. JMP Securities started coverage on American Tower in a research note on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target on the stock. Morgan Stanley dropped their price objective on American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Finally, BMO Capital Markets lifted their target price on shares of American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $228.79.

American Tower Price Performance

Shares of NYSE AMT opened at $214.19 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 company’s 50-day moving average is $195.13 and its 200 day moving average is $205.66. The stock has a market capitalization of $100.13 billion, a P/E ratio of 90.38, a P/E/G ratio of 1.29 and a beta of 0.85.

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

American Tower Increases Dividend

The company 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 dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 annualized dividend and a yield of 3.17%. This is a positive change from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio (DPR) is currently 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.