American Tower Co. (NYSE:AMT) Shares Sold by WR Wealth Planners LLC

WR Wealth Planners LLC lessened its holdings in American Tower Co. (NYSE:AMT) by 8.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,086 shares of the real estate investment trust’s stock after selling 97 shares during the period. WR Wealth Planners LLC’s holdings in American Tower were worth $199,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Financial Advocates Investment Management increased its stake in shares of American Tower by 4.0% in the third quarter. Financial Advocates Investment Management now owns 1,687 shares of the real estate investment trust’s stock worth $392,000 after acquiring an additional 65 shares during the period. Congress Asset Management Co. acquired a new stake in American Tower during the 3rd quarter worth about $224,000. Focus Financial Network Inc. grew its position in American Tower by 50.1% during the 3rd quarter. Focus Financial Network Inc. now owns 3,172 shares of the real estate investment trust’s stock worth $738,000 after purchasing an additional 1,059 shares during the period. Affinity Investment Advisors LLC acquired a new stake in American Tower during the third quarter worth about $221,000. Finally, Phillips Wealth Planners LLC grew its holdings in American Tower by 6.5% during the third quarter. Phillips Wealth Planners LLC now owns 1,857 shares of the real estate investment trust’s stock worth $423,000 after acquiring an additional 114 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on AMT shares. Wells Fargo & Company dropped their target price on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a research report on Thursday. Morgan Stanley cut their price objective on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Scotiabank lowered 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 note on Thursday, January 23rd. Finally, Citigroup cut their price target on American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average target price of $225.21.

American Tower Stock Performance

Shares of NYSE:AMT opened at $205.61 on Friday. 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 business’s 50 day moving average price is $187.09 and its 200-day moving average price is $206.69. The firm has a market capitalization of $96.08 billion, a PE ratio of 86.76, a P/E/G ratio of 1.29 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.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter in the previous year, the company posted $2.29 EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, equities research analysts expect that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were given a dividend of $1.62 per share. The ex-dividend date was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.15%. American Tower’s payout ratio is presently 134.72%.

Insider Transactions at American Tower

In other 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 transaction of $3,000,283.70. Following the transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.