Axxcess Wealth Management LLC Reduces Stake in American Tower Co. (NYSE:AMT)

Axxcess Wealth Management LLC lowered its stake in American Tower Co. (NYSE:AMT - Free Report) by 43.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,657 shares of the real estate investment trust's stock after selling 2,065 shares during the quarter. Axxcess Wealth Management LLC's holdings in American Tower were worth $487,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of American Tower by 25.4% during 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 purchasing an additional 2,152,646 shares in the last quarter. Adelante Capital Management LLC boosted its holdings in American Tower by 2,723.4% in 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 buying an additional 1,160,890 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in American Tower during the 4th quarter worth approximately $193,246,000. Daiwa Securities Group Inc. raised its holdings in shares of American Tower by 456.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 1,124,633 shares of the real estate investment trust's stock valued at $206,269,000 after acquiring an additional 922,701 shares during the last quarter. Finally, State Street Corp lifted its position in shares of American Tower by 3.1% in the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust's stock valued at $4,924,091,000 after acquiring an additional 635,726 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

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Wall Street Analysts Forecast Growth

AMT has been the subject of several recent research reports. JMP Securities began coverage on American Tower in a research note on Monday, January 27th. They issued an "outperform" rating and a $225.00 price objective for the company. Citigroup raised their price target on shares of American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Scotiabank dropped their price objective on shares of American Tower from $236.00 to $220.00 and set a "sector outperform" rating for the company in a research note on Thursday, January 23rd. Barclays raised their target price on shares of American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Finally, Hsbc Global Res upgraded American Tower to a "strong-buy" rating in a research report on Thursday, February 27th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $229.43.

Insider Transactions at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the company's stock in a transaction dated 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 sale, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.18% of the company's stock.

American Tower Trading Up 0.2 %

NYSE:AMT traded up $0.41 during trading hours on Wednesday, reaching $209.91. 1,607,370 shares of the stock were exchanged, compared to its average volume of 2,267,067. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. 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 business has a 50-day moving average of $197.32 and a two-hundred day moving average of $204.91. The company has a market capitalization of $98.12 billion, a price-to-earnings ratio of 88.57, a PEG ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT - Get Free Report) last announced its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, beating analysts' consensus estimates of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.55 billion during the quarter, compared to analysts' expectations of $2.51 billion. During the same period last year, the business posted $2.29 EPS. American Tower's revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities analysts predict that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The firm also recently declared 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 is an increase from American Tower's previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 annualized dividend and a dividend yield of 3.24%. American Tower's payout ratio is 141.37%.

American Tower 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.