American Tower Co. (NYSE:AMT) Shares Sold by Exencial Wealth Advisors LLC

Exencial Wealth Advisors LLC cut its holdings in shares of American Tower Co. (NYSE:AMT) by 17.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,674 shares of the real estate investment trust’s stock after selling 1,776 shares during the period. Exencial Wealth Advisors LLC’s holdings in American Tower were worth $1,591,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Hara Capital LLC acquired a new stake in American Tower during the 3rd quarter worth approximately $31,000. Roxbury Financial LLC acquired a new stake in American Tower during the 4th quarter worth approximately $32,000. Legacy Investment Solutions LLC acquired a new stake in American Tower during the 3rd quarter worth approximately $34,000. Activest Wealth Management raised its holdings in shares of American Tower by 431.0% in the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 125 shares in the last quarter. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of American Tower in the 4th quarter valued at $46,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on AMT shares. BMO Capital Markets raised their price objective on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. JMP Securities started coverage on shares of American Tower in a report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price objective on the stock. Mizuho reduced their price objective 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. Scotiabank reduced their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a report on Thursday, January 23rd. Finally, Citigroup reduced their price objective on shares of American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $225.21.

American Tower Trading Up 0.9 %

Shares of American Tower stock opened at $209.01 on Thursday. 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 quick ratio of 0.69 and a current ratio of 0.69. The company has a market capitalization of $97.67 billion, a P/E ratio of 88.19, a PEG ratio of 1.29 and a beta of 0.85. The company’s fifty day moving average is $188.53 and its two-hundred day moving average is $206.45.

American Tower (NYSE:AMT) last issued its quarterly earnings data 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 the consensus estimate of $2.51 billion. During the same period last year, the firm posted $2.29 EPS. American Tower’s revenue for the quarter was up 3.7% on a year-over-year basis. Analysts forecast that American Tower Co. will post 10.14 earnings per share for the current year.

Insiders Place Their Bets

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were 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 of the company’s stock, valued at approximately $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 at the SEC website. 0.18% of the stock is currently owned by insiders.

About American Tower

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.