Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Lowers Stock Holdings in American Tower Co. (NYSE:AMT)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its stake in American Tower Co. (NYSE:AMT) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,429,816 shares of the real estate investment trust’s stock after selling 13,339 shares during the period. American Tower comprises 2.9% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings, making the stock its 11th biggest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in American Tower were worth $323,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in American Tower by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust’s stock valued at $12,248,812,000 after buying an additional 965,938 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of American Tower by 41.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock valued at $1,243,333,000 after purchasing an additional 1,885,421 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of American Tower by 8.9% in the 2nd quarter. Clearbridge Investments LLC now owns 3,705,145 shares of the real estate investment trust’s stock valued at $720,206,000 after purchasing an additional 302,676 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of American Tower by 16.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,310,893 shares of the real estate investment trust’s stock valued at $643,571,000 after purchasing an additional 464,429 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of American Tower by 0.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,630,644 shares of the real estate investment trust’s stock valued at $315,868,000 after purchasing an additional 6,193 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at American Tower

In other news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $232.93, for a total transaction of $508,020.33. Following the transaction, the chief accounting officer now directly owns 31,873 shares in the company, valued at $7,424,177.89. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total value of $508,020.33. Following the transaction, the chief accounting officer now owns 31,873 shares in the company, valued at approximately $7,424,177.89. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the sale, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at $12,070,789.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,723 shares of company stock valued at $7,795,397. Insiders own 0.18% of the company’s stock.

American Tower Stock Up 1.4 %

American Tower stock traded up $3.02 during trading on Wednesday, reaching $215.93. The stock had a trading volume of 242,636 shares, compared to its average volume of 2,266,345. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The business has a 50 day moving average price of $228.70 and a 200 day moving average price of $208.39. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. The stock has a market cap of $100.86 billion, a PE ratio of 40.48, a P/E/G ratio of 1.09 and a beta of 0.83.

American Tower (NYSE:AMT) last issued its quarterly 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 23.06% and a net margin of 21.95%. The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter in the prior year, the firm earned $2.58 EPS. The firm’s revenue was down 10.5% compared to the same quarter last year. On average, analysts predict that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 3.00%. American Tower’s payout ratio is currently 121.80%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AMT. BMO Capital Markets boosted their price target on shares of American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, September 13th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. TD Cowen increased their price target on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price objective on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Finally, Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.92.

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.