Kingswood Wealth Advisors LLC Decreases Position in American Tower Co. (NYSE:AMT)

Kingswood Wealth Advisors LLC trimmed its holdings in American Tower Co. (NYSE:AMT) by 41.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,798 shares of the real estate investment trust’s stock after selling 4,115 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in American Tower were worth $1,064,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Maple Brown Abbott Ltd increased its holdings in American Tower by 16.2% in the 4th quarter. Maple Brown Abbott Ltd now owns 229,140 shares of the real estate investment trust’s stock valued at $42,027,000 after purchasing an additional 31,940 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of American Tower by 5.7% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,516 shares of the real estate investment trust’s stock worth $278,000 after acquiring an additional 82 shares in the last quarter. KFG Wealth Management LLC grew its stake in shares of American Tower by 20.8% in the fourth quarter. KFG Wealth Management LLC now owns 1,603 shares of the real estate investment trust’s stock worth $294,000 after acquiring an additional 276 shares in the last quarter. Applied Capital LLC FL grew its stake in shares of American Tower by 27.8% in the fourth quarter. Applied Capital LLC FL now owns 2,392 shares of the real estate investment trust’s stock worth $439,000 after acquiring an additional 521 shares in the last quarter. Finally, Precedent Wealth Partners LLC grew its stake in shares of American Tower by 4.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock worth $235,000 after acquiring an additional 58 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

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

American Tower Trading Down 2.6 %

NYSE AMT opened at $187.06 on Wednesday. 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 firm has a market cap of $87.41 billion, a PE ratio of 78.93, a P/E/G ratio of 1.24 and a beta of 0.84. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The firm’s fifty day moving average is $191.94 and its two-hundred day moving average is $211.14.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The business had revenue of $2.52 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.58 earnings per share. Analysts expect that American Tower Co. will post 10.15 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be paid a $1.62 dividend. The ex-dividend date is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.46%. American Tower’s dividend payout ratio is presently 273.42%.

Wall Street Analyst Weigh In

AMT has been the subject of several research reports. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group dropped their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Barclays decreased their price objective on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research report on Monday. Finally, Scotiabank decreased their price objective 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. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $226.23.

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.