American Tower Co. (NYSE:AMT) Shares Sold by Graypoint LLC

Graypoint LLC lowered its stake in shares of American Tower Co. (NYSE:AMT) by 10.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,387 shares of the real estate investment trust’s stock after selling 392 shares during the period. Graypoint LLC’s holdings in American Tower were worth $621,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMT. RMR Wealth Builders boosted its stake in shares of American Tower by 12.6% during the fourth quarter. RMR Wealth Builders now owns 8,998 shares of the real estate investment trust’s stock valued at $1,650,000 after acquiring an additional 1,008 shares during the last quarter. Atlas Brown Inc. boosted its stake in shares of American Tower by 7.3% during the 4th quarter. Atlas Brown Inc. now owns 1,106 shares of the real estate investment trust’s stock worth $203,000 after purchasing an additional 75 shares during the last quarter. Sugarloaf Wealth Management LLC grew its holdings in shares of American Tower by 14.3% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 19,564 shares of the real estate investment trust’s stock worth $3,588,000 after buying an additional 2,452 shares in the last quarter. Jacobs & Co. CA raised its position in shares of American Tower by 50.8% in the fourth quarter. Jacobs & Co. CA now owns 35,044 shares of the real estate investment trust’s stock valued at $6,427,000 after buying an additional 11,799 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of American Tower by 17.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 702 shares of the real estate investment trust’s stock valued at $129,000 after buying an additional 106 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Scotiabank cut their price target on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 30th. The Goldman Sachs Group reduced their target price on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. BMO Capital Markets lowered their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Mizuho cut their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Barclays lowered their target price on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and an average price target of $233.67.

American Tower Price Performance

Shares of NYSE AMT opened at $173.54 on Friday. The company has a market capitalization of $81.09 billion, a price-to-earnings ratio of 73.22, a PEG ratio of 1.31 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. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The business has a 50-day moving average of $194.98 and a 200-day moving average of $211.78.

American Tower (NYSE:AMT) last posted its quarterly earnings data 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). The firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.58 EPS. On average, equities analysts anticipate that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.73%. American Tower’s dividend payout ratio is presently 273.42%.

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.