AllSquare Wealth Management LLC Lowers Position in American Tower Co. (NYSE:AMT)

AllSquare Wealth Management LLC cut its position in shares of American Tower Co. (NYSE:AMT) by 21.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 435 shares of the real estate investment trust’s stock after selling 120 shares during the quarter. AllSquare Wealth Management LLC’s holdings in American Tower were worth $80,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of AMT. FMR LLC boosted its position in American Tower by 25.4% during the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after purchasing an additional 2,152,646 shares during the period. Adelante Capital Management LLC lifted its stake in American Tower by 2,723.4% during the third quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock worth $279,890,000 after purchasing an additional 1,160,890 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of American Tower during the fourth quarter worth approximately $193,246,000. Daiwa Securities Group Inc. lifted its stake in American Tower by 456.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,124,633 shares of the real estate investment trust’s stock worth $206,269,000 after purchasing an additional 922,701 shares during the last quarter. Finally, State Street Corp grew its position in American Tower by 3.1% during 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. 92.69% of the stock is owned by institutional investors.

American Tower Stock Performance

NYSE AMT opened at $214.19 on Friday. The firm has a market cap of $100.13 billion, a P/E ratio of 90.38, a P/E/G ratio of 1.29 and a beta of 0.85. The business’s 50-day moving average price is $195.13 and its 200 day moving average price is $205.66. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, beating the consensus estimate of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same period in the prior year, the business earned $2.29 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities research analysts expect that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be given a $1.70 dividend. The ex-dividend date of this dividend is Friday, April 11th. This is an increase from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a yield of 3.17%. American Tower’s dividend payout ratio (DPR) is currently 141.37%.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on AMT. Barclays dropped their price target on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Wells Fargo & Company raised shares of American Tower from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $210.00 to $230.00 in a report on Monday. Morgan Stanley reduced their price objective on American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Scotiabank cut their price objective on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. Finally, Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $228.79.

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.