Foundations Investment Advisors LLC Lowers Holdings in American Tower Co. (NYSE:AMT)

Foundations Investment Advisors LLC lowered its stake in shares of American Tower Co. (NYSE:AMT) by 11.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 3,294 shares of the real estate investment trust’s stock after selling 442 shares during the period. Foundations Investment Advisors LLC’s holdings in American Tower were worth $604,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of AMT. Fortitude Family Office LLC lifted its holdings in 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 valued at $25,000 after acquiring an additional 78 shares during the period. Northwest Investment Counselors LLC acquired a new position in shares of American Tower in the 3rd quarter valued at $30,000. Hara Capital LLC purchased a new stake in American Tower during the third quarter worth $31,000. Legacy Investment Solutions LLC acquired a new stake in American Tower during the third quarter valued at $34,000. Finally, Activest Wealth Management increased its holdings in American Tower by 431.0% in the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 125 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Price Performance

AMT stock opened at $185.71 on Friday. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The firm has a market capitalization of $86.78 billion, a PE ratio of 78.36, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84. 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 business has a 50 day simple moving average of $191.32 and a 200-day simple moving average of $210.78.

American Tower (NYSE:AMT) last issued its 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). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same period last year, the business earned $2.58 earnings per share. The firm’s revenue was down 10.5% compared to the same quarter last year. Equities research analysts anticipate that American Tower Co. will post 10.15 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.49%. American Tower’s dividend payout ratio (DPR) is 273.42%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Scotiabank lowered their target price on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research note on Thursday, January 23rd. Citizens Jmp raised American Tower to a “strong-buy” rating in a report on Monday. Barclays reduced their target price on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday. Wells Fargo & Company dropped their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Finally, BMO Capital Markets reduced their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $226.23.

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 value of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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.