American Tower Co. (NYSE:AMT) Shares Sold by National Wealth Management Group LLC

National Wealth Management Group LLC lowered its stake in American Tower Co. (NYSE:AMT) by 7.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,199 shares of the real estate investment trust’s stock after selling 171 shares during the quarter. National Wealth Management Group LLC’s holdings in American Tower were worth $403,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. State Street Corp lifted its holdings in shares of American Tower by 3.1% in the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock worth $4,924,091,000 after acquiring an additional 635,726 shares during the last quarter. Geode Capital Management LLC raised its position in American Tower by 1.9% in the third quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust’s stock valued at $2,599,074,000 after purchasing an additional 204,426 shares during the period. Norges Bank acquired a new position in American Tower during the fourth quarter worth $1,164,851,000. Charles Schwab Investment Management Inc. boosted its position in shares of American Tower by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,316,312 shares of the real estate investment trust’s stock worth $975,065,000 after buying an additional 107,345 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of American Tower by 16.8% in the fourth quarter. Franklin Resources Inc. now owns 5,164,905 shares of the real estate investment trust’s stock valued at $947,295,000 after buying an additional 742,632 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

AMT has been the topic of several research reports. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Wells Fargo & Company raised shares of American Tower from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $210.00 to $230.00 in a research report on Monday, March 17th. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research note on Monday, January 27th. JMP Securities initiated coverage on American Tower in a report on Monday, January 27th. They issued an “outperform” rating and a $225.00 target price for the company. Finally, Mizuho cut their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, American Tower presently has a consensus rating of “Buy” and an average target price of $229.43.

American Tower Stock Up 1.0 %

AMT stock opened at $217.78 on Tuesday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The stock has a market cap of $101.80 billion, a P/E ratio of 91.89, a PEG ratio of 1.29 and a beta of 0.85. The company’s 50 day moving average is $199.44 and its two-hundred day moving average is $204.20.

American Tower (NYSE:AMT) last announced its 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 net margin of 10.05% and a return on equity of 22.01%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.29 earnings per share. Research analysts expect that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be given a dividend of $1.70 per share. This is a positive change from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Friday, April 11th. American Tower’s payout ratio is presently 141.37%.

Insider Transactions at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the company’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 approximately $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.18% of the company’s stock.

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.