Jackson Square Capital LLC Sells 1,106 Shares of American Tower Co. (NYSE:AMT)

Jackson Square Capital LLC reduced its stake in shares of American Tower Co. (NYSE:AMT) by 19.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,453 shares of the real estate investment trust’s stock after selling 1,106 shares during the period. Jackson Square Capital LLC’s holdings in American Tower were worth $817,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fortitude Family Office LLC lifted its stake in American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 78 shares during the last quarter. Fairscale Capital LLC purchased a new stake in shares of American Tower during the second quarter worth $27,000. Northwest Investment Counselors LLC purchased a new stake in shares of American Tower during the third quarter worth $30,000. Hara Capital LLC purchased a new stake in shares of American Tower during the third quarter worth $31,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of American Tower during the third quarter worth $34,000. 92.69% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of research analyst reports. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Barclays decreased their price objective on American Tower from $251.00 to $215.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Wells Fargo & Company downgraded American Tower from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $245.00 to $230.00 in a report on Thursday, October 10th. JPMorgan Chase & Co. lifted their price objective on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Finally, The Goldman Sachs Group decreased their price objective on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $230.67.

American Tower Price Performance

American Tower stock opened at $190.51 on Friday. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The stock has a market capitalization of $89.02 billion, a P/E ratio of 80.39, a P/E/G ratio of 1.16 and a beta of 0.84. The firm’s 50-day moving average is $192.86 and its two-hundred day moving average is $211.29. 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 (NYSE:AMT) last posted its quarterly earnings data 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 firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.58 EPS. Equities analysts predict that American Tower Co. will post 10.15 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is 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.