Nilsine Partners LLC Cuts Stock Position in American Tower Co. (NYSE:AMT)

Nilsine Partners LLC trimmed its holdings in shares of American Tower Co. (NYSE:AMT) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,150 shares of the real estate investment trust’s stock after selling 138 shares during the quarter. Nilsine Partners LLC’s holdings in American Tower were worth $578,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. CX Institutional raised its holdings in American Tower by 2.9% in the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock valued at $450,000 after acquiring an additional 54 shares during the last quarter. Palumbo Wealth Management LLC increased its holdings in shares of American Tower by 1.6% in the third quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock valued at $864,000 after purchasing an additional 57 shares during the last quarter. Rehmann Capital Advisory Group lifted 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 worth $332,000 after buying an additional 58 shares in the last quarter. Precedent Wealth Partners LLC boosted its stake in American Tower by 4.7% during 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 during the last quarter. Finally, Sivia Capital Partners LLC grew its holdings in 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 buying an additional 59 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AMT shares. BMO Capital Markets reduced their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Mizuho decreased their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Wells Fargo & Company cut their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. JMP Securities assumed coverage on American Tower in a report on Monday. They issued an “outperform” rating and a $225.00 price objective on the stock. Finally, StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and a consensus price target of $226.23.

Insider Buying and Selling

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated 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 owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.18% of the stock is currently owned by insiders.

American Tower Stock Down 2.6 %

Shares of NYSE:AMT opened at $187.06 on Wednesday. The firm has a market capitalization of $87.41 billion, a PE ratio of 78.93, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. 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 firm’s 50-day moving average is $191.94 and its two-hundred day moving average is $211.14.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.58 earnings per share. Analysts predict that American Tower Co. will post 10.15 EPS for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be issued a $1.62 dividend. The ex-dividend date is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.46%. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

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.