4J Wealth Management LLC Decreases Stock Position in American Tower Co. (NYSE:AMT)

4J Wealth Management LLC cut its position in American Tower Co. (NYSE:AMT) by 29.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,251 shares of the real estate investment trust’s stock after selling 530 shares during the quarter. 4J Wealth Management LLC’s holdings in American Tower were worth $229,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Fortitude Family Office LLC lifted its position in shares of American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 78 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in shares of American Tower in the 3rd quarter worth about $30,000. Hara Capital LLC bought a new position in shares of American Tower in the 3rd quarter worth about $31,000. Legacy Investment Solutions LLC bought a new position in shares of American Tower in the 3rd quarter worth about $34,000. Finally, Activest Wealth Management lifted its position in shares of American Tower by 431.0% in the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 125 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Down 0.5 %

NYSE AMT opened at $184.91 on Friday. 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’s 50 day simple moving average is $190.58 and its 200 day simple moving average is $210.44. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The company has a market capitalization of $86.41 billion, a P/E ratio of 78.02, a PEG ratio of 1.23 and a beta of 0.84.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($1.56). The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business’s revenue was down 10.5% on a year-over-year basis. During the same period last year, the business earned $2.58 earnings per share. Equities research analysts expect that American Tower Co. will post 10.15 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date is Friday, December 27th. American Tower’s payout ratio is presently 273.42%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Scotiabank dropped their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a report on Thursday, January 23rd. BMO Capital Markets dropped their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Barclays dropped their price target on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $226.23.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were 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 of the company’s stock, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by insiders.

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.