Fiduciary Group LLC Has $6.17 Million Stock Position in American Tower Co. (NYSE:AMT)

Fiduciary Group LLC lowered its holdings in shares of American Tower Co. (NYSE:AMT) by 8.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 33,636 shares of the real estate investment trust’s stock after selling 3,301 shares during the period. Fiduciary Group LLC’s holdings in American Tower were worth $6,169,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AMT. Legacy Investment Solutions LLC acquired a new position in American Tower during the third quarter worth about $34,000. Activest Wealth Management increased its position in American Tower by 431.0% during the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 125 shares in the last quarter. Roxbury Financial LLC acquired a new position in American Tower during the 4th quarter worth approximately $32,000. Hobbs Group Advisors LLC increased its position in American Tower by 51.0% during the 3rd quarter. Hobbs Group Advisors LLC now owns 222 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 75 shares in the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of American Tower by 49.3% during the third quarter. Larson Financial Group LLC now owns 227 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 75 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

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 that occurred 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

American Tower Stock Performance

Shares of American Tower stock opened at $213.83 on Thursday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The business has a 50-day moving average price of $194.43 and a two-hundred day moving average price of $205.60. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The company has a market cap of $99.95 billion, a P/E ratio of 90.22, a PEG ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS 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 analysts’ expectations 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 was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.29 earnings per share. As a group, analysts anticipate that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be given a dividend of $1.70 per share. This is an increase from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 annualized dividend and a dividend yield of 3.18%. American Tower’s dividend payout ratio (DPR) is 141.37%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AMT shares. Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Wells Fargo & Company raised American Tower from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $210.00 to $230.00 in a report on Monday. BMO Capital Markets upped their price objective on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Morgan Stanley lowered their price objective on American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Finally, Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $228.79.

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.