Fiduciary Group LLC Trims Holdings in American Tower Co. (NYSE:AMT)

Fiduciary Group LLC lessened its holdings in American Tower Co. (NYSE:AMT - Free Report) by 8.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 33,636 shares of the real estate investment trust's stock after selling 3,301 shares during the period. Fiduciary Group LLC's holdings in American Tower were worth $6,169,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Glenview Trust co lifted its stake in American Tower by 0.8% in the 4th quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust's stock worth $1,294,000 after purchasing an additional 54 shares in the last quarter. Rehmann Capital Advisory Group increased its holdings in shares of American Tower by 4.2% in the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust's stock worth $332,000 after purchasing an additional 58 shares during the last quarter. Precedent Wealth Partners LLC lifted its position in shares of American Tower by 4.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust's stock worth $235,000 after buying an additional 58 shares in the last quarter. Resonant Capital Advisors LLC boosted its stake in American Tower by 5.8% during the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust's stock valued at $206,000 after buying an additional 61 shares during the last quarter. Finally, Calamos Wealth Management LLC grew its holdings in 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 valued at $398,000 after buying an additional 61 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

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American Tower Stock Down 1.6 %

Shares of AMT stock traded down $3.48 during mid-day trading on Monday, hitting $212.75. 2,879,869 shares of the stock traded hands, compared to its average volume of 2,269,025. The stock's fifty day moving average is $195.99 and its two-hundred day moving average is $205.24. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The stock has a market cap of $99.45 billion, a P/E ratio of 89.77, a P/E/G 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 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.83. The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower's revenue was up 3.7% compared to the same quarter last year. During the same period last year, the firm earned $2.29 earnings per share. Equities analysts predict that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be given a dividend of $1.70 per share. This is a positive change from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a yield of 3.20%. The ex-dividend date is Friday, April 11th. American Tower's dividend payout ratio is currently 141.37%.

Insider Buying and Selling at American Tower

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 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 $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AMT has been the subject of a number of research reports. Hsbc Global Res upgraded American Tower to a "strong-buy" rating in a research report on Thursday, February 27th. 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. Scotiabank decreased their target price 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. The Goldman Sachs Group dropped their price target on 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, Morgan Stanley lowered their price objective on American Tower from $219.00 to $213.00 and set an "equal weight" rating for the company in a research note on Monday, February 24th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, American Tower currently has an average rating of "Buy" and a consensus target price of $229.43.

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.