American Tower Co. (NYSE:AMT) Shares Sold by Exencial Wealth Advisors LLC

Exencial Wealth Advisors LLC lowered its position in American Tower Co. (NYSE:AMT - Free Report) by 17.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,674 shares of the real estate investment trust's stock after selling 1,776 shares during the period. Exencial Wealth Advisors LLC's holdings in American Tower were worth $1,591,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of AMT. FMR LLC raised its position in shares of American Tower by 25.4% in the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust's stock worth $2,474,934,000 after acquiring an additional 2,152,646 shares during the period. Adelante Capital Management LLC raised its position in shares of American Tower by 2,723.4% during the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust's stock worth $279,890,000 after purchasing an additional 1,160,890 shares during the last quarter. State Street Corp raised its position in shares of American Tower by 3.1% during the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust's stock worth $4,924,091,000 after purchasing an additional 635,726 shares during the last quarter. KBC Group NV raised its position in shares of American Tower by 270.4% during the 3rd quarter. KBC Group NV now owns 466,772 shares of the real estate investment trust's stock worth $108,553,000 after purchasing an additional 340,742 shares during the last quarter. Finally, Brookfield Corp ON raised its position in shares of American Tower by 88.3% during the 3rd quarter. Brookfield Corp ON now owns 710,725 shares of the real estate investment trust's stock worth $165,286,000 after purchasing an additional 333,209 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Stock Performance

American Tower stock opened at $209.01 on Thursday. The firm has a 50 day simple moving average of $188.53 and a 200-day simple moving average of $206.45. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market cap of $97.67 billion, a price-to-earnings ratio of 88.19, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $2.55 billion during the quarter, compared to analysts' expectations of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. 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 posted $2.29 EPS. On average, analysts expect that American Tower Co. will post 10.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on AMT shares. BMO Capital Markets upped their price target on shares of American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Morgan Stanley reduced their price target on shares of American Tower from $219.00 to $213.00 and set an "equal weight" rating for the company in a research report on Monday, February 24th. Wells Fargo & Company reduced their price target on shares of American Tower from $215.00 to $195.00 and set an "equal weight" rating for the company in a research report on Thursday, January 23rd. The Goldman Sachs Group reduced their price target on shares of American Tower from $260.00 to $234.00 and set a "buy" rating for the company in a research report on Thursday, December 12th. Finally, 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 research note on Wednesday, January 8th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $225.21.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred on 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 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

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.

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