Wedmont Private Capital Sells 278 Shares of American Tower Co. (NYSE:AMT)

Wedmont Private Capital decreased its position in American Tower Co. (NYSE:AMT) by 9.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,824 shares of the real estate investment trust’s stock after selling 278 shares during the period. Wedmont Private Capital’s holdings in American Tower were worth $490,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMT. Bradley Foster & Sargent Inc. CT increased its holdings in American Tower by 3.8% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 6,853 shares of the real estate investment trust’s stock worth $1,332,000 after buying an additional 251 shares during the last quarter. E Fund Management Co. Ltd. raised its holdings in shares of American Tower by 140.6% in the 2nd quarter. E Fund Management Co. Ltd. now owns 3,487 shares of the real estate investment trust’s stock worth $678,000 after purchasing an additional 2,038 shares during the period. Mercer Global Advisors Inc. ADV lifted its stake in American Tower by 113.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 59,416 shares of the real estate investment trust’s stock valued at $11,549,000 after purchasing an additional 31,616 shares during the last quarter. Argent Trust Co increased its position in American Tower by 4.7% in the second quarter. Argent Trust Co now owns 20,492 shares of the real estate investment trust’s stock worth $3,983,000 after buying an additional 924 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of American Tower by 11.0% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,456 shares of the real estate investment trust’s stock valued at $1,449,000 after buying an additional 740 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AMT. Scotiabank lowered their price objective on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, October 30th. The Goldman Sachs Group dropped their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Barclays lowered their target price on shares of American Tower from $251.00 to $215.00 and set an “overweight” rating on the stock in a report on Monday. JPMorgan Chase & Co. lifted their price target on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Finally, BMO Capital Markets cut their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $230.67.

American Tower Stock Up 0.8 %

Shares of AMT opened at $180.31 on Thursday. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. 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 stock has a 50 day simple moving average of $193.58 and a two-hundred day simple moving average of $211.68. The firm has a market cap of $84.26 billion, a P/E ratio of 76.08, a P/E/G ratio of 1.31 and a beta of 0.84.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share 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 during the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the prior year, the firm earned $2.58 earnings per share. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. On average, analysts forecast that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.59%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio is 273.42%.

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.