TD Private Client Wealth LLC Reduces Stock Position in American Tower Co. (NYSE:AMT)

TD Private Client Wealth LLC lessened its stake in American Tower Co. (NYSE:AMT - Free Report) by 44.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,765 shares of the real estate investment trust's stock after selling 3,788 shares during the quarter. TD Private Client Wealth LLC's holdings in American Tower were worth $874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of AMT. Landscape Capital Management L.L.C. purchased a new stake in shares of American Tower during the third quarter valued at $364,000. Meridian Wealth Management LLC bought a new position in American Tower during the 3rd quarter valued at about $254,000. Nwam LLC purchased a new stake in shares of American Tower during the 3rd quarter valued at about $373,000. Cerity Partners LLC raised its holdings in shares of American Tower by 36.7% during the third quarter. Cerity Partners LLC now owns 129,234 shares of the real estate investment trust's stock valued at $30,055,000 after purchasing an additional 34,670 shares during the last quarter. Finally, Swedbank AB raised its holdings in shares of American Tower by 0.8% during the third quarter. Swedbank AB now owns 602,841 shares of the real estate investment trust's stock valued at $140,197,000 after purchasing an additional 4,627 shares during the last quarter. Institutional investors own 92.69% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on AMT. BMO Capital Markets boosted their target price on shares of American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Citizens Jmp upgraded American Tower to a "strong-buy" rating in a research report on Monday, January 27th. Hsbc Global Res upgraded American Tower to a "strong-buy" rating in a research note on Thursday, February 27th. Barclays increased their price objective 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, Wells Fargo & Company upgraded shares of American Tower from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $210.00 to $230.00 in a research report on Monday, March 17th. Three research 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 data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $229.43.

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Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 62,792 shares of the company's stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.18% of the company's stock.

American Tower Price Performance

Shares of NYSE AMT traded up $4.36 during mid-day trading on Thursday, reaching $214.38. The company's stock had a trading volume of 2,458,406 shares, compared to its average volume of 2,268,725. 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 fifty day moving average of $197.91 and a two-hundred day moving average of $204.94. The firm has a market capitalization of $100.21 billion, a PE ratio of 90.46, a P/E/G ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same period last year, the firm posted $2.29 EPS. The company's revenue was up 3.7% on a year-over-year basis. As a group, sell-side 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 paid a $1.70 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 annualized dividend and a yield of 3.17%. This is a boost from American Tower's previous quarterly dividend of $1.62. American Tower's payout ratio is presently 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.