Farther Finance Advisors LLC Sells 2,167 Shares of American Tower Co. (NYSE:AMT)

Farther Finance Advisors LLC decreased its position in shares of American Tower Co. (NYSE:AMT) by 49.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,258 shares of the real estate investment trust’s stock after selling 2,167 shares during the quarter. Farther Finance Advisors LLC’s holdings in American Tower were worth $414,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

AMT has been the topic of a number of research analyst reports. Morgan Stanley cut their price target on American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. BMO Capital Markets lifted their price target on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. JMP Securities assumed coverage on shares of American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective on the stock. Citigroup boosted their target price on American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Finally, Scotiabank cut their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a report on Thursday, January 23rd. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $228.79.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction on Thursday, January 16th. The stock was 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 owns 62,792 shares in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by company insiders.

American Tower Price Performance

Shares of NYSE AMT opened at $213.17 on Tuesday. The company has a market capitalization of $99.65 billion, a PE ratio of 89.95, a PEG ratio of 1.29 and a beta of 0.85. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock’s 50 day moving average price is $192.99 and its 200-day moving average price is $205.61. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.83. The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.29 EPS. On average, equities analysts anticipate that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.19%. This is a boost from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. American Tower’s payout ratio is presently 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.