Baldwin Wealth Partners LLC MA Sells 80 Shares of American Tower Co. (NYSE:AMT)

Baldwin Wealth Partners LLC MA trimmed its holdings in shares of American Tower Co. (NYSE:AMT) by 3.6% during the fourth quarter, HoldingsChannel reports. The fund owned 2,115 shares of the real estate investment trust’s stock after selling 80 shares during the quarter. Baldwin Wealth Partners LLC MA’s holdings in American Tower were worth $388,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fortitude Family Office LLC grew its stake in shares of 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 worth $25,000 after purchasing an additional 78 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of American Tower in the 3rd quarter valued at about $30,000. Hara Capital LLC acquired a new stake in shares of American Tower in the third quarter valued at about $31,000. Legacy Investment Solutions LLC bought a new position in shares of American Tower during the third quarter worth about $34,000. Finally, Activest Wealth Management lifted its stake in shares of American Tower by 431.0% in the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 125 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Trading Up 2.0 %

NYSE:AMT opened at $188.78 on Monday. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The stock’s fifty day moving average price is $192.08 and its two-hundred day moving average price is $211.24. 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 company has a market cap of $88.21 billion, a P/E ratio of 79.87, a P/E/G ratio of 1.24 and a beta of 0.84.

American Tower (NYSE:AMT) last issued its quarterly earnings results 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 business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business’s revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.58 EPS. As a group, analysts expect that American Tower Co. will post 10.15 EPS for the current year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.43%. American Tower’s payout ratio is 273.42%.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred 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 in the company, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

AMT has been the subject of several analyst reports. JMP Securities initiated coverage on shares of American Tower in a report on Monday. They set an “outperform” rating and a $225.00 price target for the company. The Goldman Sachs Group dropped their target price 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. Scotiabank lowered their price objective on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company lowered their target price on American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.31.

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.