American Tower Co. (NYSE:AMT) is Foresight Group Ltd Liability Partnership's Largest Position

Foresight Group Ltd Liability Partnership cut its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 146,922 shares of the real estate investment trust's stock after selling 2,300 shares during the period. American Tower makes up about 16.1% of Foresight Group Ltd Liability Partnership's portfolio, making the stock its biggest holding. Foresight Group Ltd Liability Partnership's holdings in American Tower were worth $26,947,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. CX Institutional increased its holdings in shares of American Tower by 2.9% in the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust's stock worth $450,000 after buying an additional 54 shares during the last quarter. Palumbo Wealth Management LLC increased its stake in American Tower by 1.6% during the third quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust's stock worth $864,000 after acquiring an additional 57 shares during the last quarter. Rehmann Capital Advisory Group raised its position in American Tower by 4.2% during the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust's stock valued at $332,000 after purchasing an additional 58 shares during the period. Sivia Capital Partners LLC lifted its stake in shares of American Tower by 5.3% in the 3rd quarter. Sivia Capital Partners LLC now owns 1,179 shares of the real estate investment trust's stock valued at $274,000 after purchasing an additional 59 shares during the last quarter. Finally, Fullcircle Wealth LLC boosted its holdings in shares of American Tower by 1.2% in the 3rd quarter. Fullcircle Wealth LLC now owns 5,053 shares of the real estate investment trust's stock worth $1,123,000 after purchasing an additional 61 shares during the period. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Stock Up 0.2 %

Shares of AMT traded up $0.44 during mid-day trading on Friday, hitting $190.51. The company's stock had a trading volume of 2,882,489 shares, compared to its average volume of 2,167,840. The firm has a market capitalization of $89.02 billion, a price-to-earnings ratio of 80.39, a PEG ratio of 1.16 and a beta of 0.84. The company's 50-day moving average is $193.09 and its 200-day moving average is $211.32. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.56). The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm's revenue was down 10.5% compared to the same quarter last year. During the same period last year, the business posted $2.58 EPS. On average, equities research analysts forecast that American Tower Co. will post 10.15 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, December 27th. American Tower's payout ratio is 273.42%.

Analyst Ratings Changes

Several analysts recently weighed in on AMT shares. Mizuho decreased their price target on American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. The Goldman Sachs Group lowered their target price on shares of American Tower from $260.00 to $234.00 and set a "buy" rating for the company in a report on Thursday, December 12th. BMO Capital Markets cut their price target on shares of American Tower from $255.00 to $245.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. Wells Fargo & Company downgraded shares of American Tower from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th. Finally, StockNews.com lowered American Tower from a "buy" rating to a "hold" rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, American Tower currently has a consensus rating of "Moderate Buy" and a consensus target price of $230.67.

Insider Activity

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 sale, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.18% of the company's stock.

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.