Farther Finance Advisors LLC Cuts Stock Position in American Tower Co. (NYSE:AMT)

Farther Finance Advisors LLC reduced its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 49.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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 large investors have also made changes to their positions in AMT. Rehmann Capital Advisory Group raised its holdings in shares of American Tower by 4.2% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust's stock worth $332,000 after acquiring an additional 58 shares in the last quarter. Precedent Wealth Partners LLC raised its holdings in shares of American Tower by 4.7% during the 4th quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust's stock worth $235,000 after acquiring an additional 58 shares in the last quarter. Resonant Capital Advisors LLC raised its holdings in shares of American Tower by 5.8% during the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust's stock worth $206,000 after acquiring an additional 61 shares in the last quarter. Calamos Wealth Management LLC raised its holdings in shares of American Tower by 2.9% during the 4th quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust's stock worth $398,000 after acquiring an additional 61 shares in the last quarter. Finally, Sunburst Financial Group LLC raised its holdings in shares of American Tower by 4.9% during the 4th quarter. Sunburst Financial Group LLC now owns 1,354 shares of the real estate investment trust's stock worth $248,000 after acquiring an additional 63 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

Several research firms recently weighed in on AMT. JMP Securities began coverage on American Tower in a report on Monday, January 27th. They set an "outperform" rating and a $225.00 price target on the stock. Citigroup increased their price target on American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a report on Monday, March 10th. Barclays increased their price target on American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a report on Friday. Citizens Jmp upgraded American Tower to a "strong-buy" rating in a report on Monday, January 27th. Finally, Mizuho cut their price objective on American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. Three research 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's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $229.43.

Insider Buying and Selling at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business's stock in a transaction that occurred on Thursday, January 16th. The stock was 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. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is currently owned by corporate insiders.

American Tower Stock Up 1.0 %

NYSE AMT traded up $2.14 during trading on Friday, hitting $216.41. The company's stock had a trading volume of 6,253,517 shares, compared to its average volume of 2,550,331. 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 company has a market cap of $101.16 billion, a PE ratio of 91.31, a P/E/G ratio of 1.29 and a beta of 0.85. The business's 50 day simple moving average is $195.13 and its 200-day simple moving average is $205.66. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, topping 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 firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the previous year, the company posted $2.29 earnings per share. The company's revenue was up 3.7% compared to the same quarter last year. On average, equities analysts anticipate that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be issued a $1.70 dividend. The ex-dividend date is Friday, April 11th. This is an increase from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a yield of 3.14%. 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.