Janney Montgomery Scott LLC Trims Holdings in American Tower Co. (NYSE:AMT)

Janney Montgomery Scott LLC lowered its holdings in American Tower Co. (NYSE:AMT) by 12.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 231,381 shares of the real estate investment trust’s stock after selling 32,097 shares during the quarter. Janney Montgomery Scott LLC’s holdings in American Tower were worth $42,438,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. CX Institutional lifted its position in shares of American Tower by 2.9% in the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock worth $450,000 after purchasing an additional 54 shares during the period. Palumbo Wealth Management LLC lifted its holdings in American Tower by 1.6% in the third quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock worth $864,000 after buying an additional 57 shares during the period. Rehmann Capital Advisory Group boosted its position in American Tower by 4.2% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock valued at $332,000 after acquiring an additional 58 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in shares of American Tower by 5.3% during the 3rd quarter. Sivia Capital Partners LLC now owns 1,179 shares of the real estate investment trust’s stock worth $274,000 after acquiring an additional 59 shares during the period. Finally, Fullcircle Wealth LLC raised its position in shares of American Tower by 1.2% in the 3rd quarter. Fullcircle Wealth LLC now owns 5,053 shares of the real estate investment trust’s stock worth $1,123,000 after acquiring an additional 61 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AMT has been the topic of several research reports. Wells Fargo & Company dropped their price target on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday. Mizuho reduced their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. BMO Capital Markets lowered their price target 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. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Barclays lowered their target price on shares of American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and an average price target of $226.42.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the transaction, the chief financial officer now directly owns 62,792 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is currently owned by corporate insiders.

American Tower Trading Up 0.6 %

Shares of American Tower stock opened at $186.31 on Friday. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. 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 company has a market capitalization of $87.06 billion, a P/E ratio of 78.61, a P/E/G ratio of 1.24 and a beta of 0.84. The company has a fifty day moving average of $192.48 and a 200 day moving average of $211.29.

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

American Tower Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.48%. American Tower’s dividend payout ratio is 273.42%.

About American Tower

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.