Schechter Investment Advisors LLC Reduces Position in American Tower Co. (NYSE:AMT)

Schechter Investment Advisors LLC decreased its holdings in American Tower Co. (NYSE:AMT) by 28.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,863 shares of the real estate investment trust’s stock after selling 723 shares during the period. Schechter Investment Advisors LLC’s holdings in American Tower were worth $342,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of AMT. Hara Capital LLC purchased a new position in shares of American Tower during the third quarter valued at approximately $31,000. Roxbury Financial LLC bought a new stake in American Tower in the 4th quarter worth approximately $32,000. Legacy Investment Solutions LLC purchased a new stake in American Tower during the 3rd quarter valued at $34,000. Activest Wealth Management lifted its holdings in shares of American Tower by 431.0% during the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 125 shares during the period. Finally, Bank of Jackson Hole Trust purchased a new position in shares of American Tower in the 4th quarter worth $46,000. Institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

Shares of American Tower stock opened at $209.01 on Thursday. The company has a market capitalization of $97.67 billion, a price-to-earnings ratio of 88.19, a PEG ratio of 1.29 and a beta of 0.85. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock’s 50-day simple moving average is $188.53 and its 200-day simple moving average is $206.45. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56.

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Scotiabank reduced their price target on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday, January 23rd. The Goldman Sachs Group dropped their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Finally, BMO Capital Markets lifted their price target on shares of American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $225.21.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is currently owned by corporate insiders.

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.