4J Wealth Management LLC Sells 530 Shares of American Tower Co. (NYSE:AMT)

4J Wealth Management LLC lessened its holdings in American Tower Co. (NYSE:AMT) by 29.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,251 shares of the real estate investment trust’s stock after selling 530 shares during the quarter. 4J Wealth Management LLC’s holdings in American Tower were worth $229,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMT. Balentine LLC bought a new stake in American Tower during the 3rd quarter worth about $586,000. Nordea Investment Management AB grew its holdings in American Tower by 28.5% during the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after acquiring an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in American Tower during the 3rd quarter worth about $1,156,000. Czech National Bank grew its holdings in American Tower by 6.9% during the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock worth $22,128,000 after acquiring an additional 6,163 shares during the last quarter. Finally, Brookstone Capital Management grew its holdings in American Tower by 29.0% during the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock worth $1,629,000 after acquiring an additional 1,995 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AMT shares. Barclays cut their target price on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research report on Tuesday. Mizuho cut their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company cut their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Scotiabank cut their price target on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research report on Thursday, January 23rd. Finally, The Goldman Sachs Group cut their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus price target of $226.23.

American Tower Price Performance

Shares of AMT opened at $184.91 on Friday. The stock has a market capitalization of $86.41 billion, a P/E ratio of 78.02, a P/E/G ratio of 1.23 and a beta of 0.84. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a 50 day moving average of $190.58 and a 200-day moving average of $210.44. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($1.56). The business had revenue of $2.52 billion for 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 revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.58 earnings per share. As a group, equities research analysts forecast that American Tower Co. will post 10.15 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be paid 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 3.50%. American Tower’s dividend payout ratio is currently 273.42%.

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.