American Tower Co. (NYSE:AMT) Shares Sold by Nicolet Advisory Services LLC

by · The Markets Daily

Nicolet Advisory Services LLC trimmed its holdings in shares of American Tower Co. (NYSE:AMT – Free Report) by 4.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,849 shares of the real estate investment trust’s stock after selling 239 shares during the period. Nicolet Advisory Services LLC’s holdings in American Tower were worth $841,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in AMT. Benjamin Edwards Inc. acquired a new position in shares of American Tower during the third quarter worth $2,329,000. Holocene Advisors LP lifted its holdings in American Tower by 13.0% in the 3rd quarter. Holocene Advisors LP now owns 13,855 shares of the real estate investment trust’s stock worth $3,222,000 after buying an additional 1,594 shares in the last quarter. IHT Wealth Management LLC boosted its position in American Tower by 22.2% in the 3rd quarter. IHT Wealth Management LLC now owns 8,442 shares of the real estate investment trust’s stock valued at $1,962,000 after buying an additional 1,534 shares during the last quarter. Royal London Asset Management Ltd. grew its stake in shares of American Tower by 20.0% during the third quarter. Royal London Asset Management Ltd. now owns 261,653 shares of the real estate investment trust’s stock valued at $60,850,000 after acquiring an additional 43,675 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of American Tower during the third quarter worth about $110,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Up 4.8 %

NYSE:AMT opened at $228.31 on Friday. The firm has a market capitalization of $106.73 billion, a PE ratio of 96.33, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a 50 day moving average of $201.51 and a 200-day moving average of $204.33.

American Tower (NYSE:AMT – Get Free Report) last issued its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same period last year, the company earned $2.29 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. Analysts predict that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 2.98%. This is a positive change from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. American Tower’s payout ratio is presently 141.37%.

Insiders Place Their Bets

In other news, CFO Rodney M. Smith sold 16,567 shares of the business’s 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 in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Barclays raised their price objective on American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Morgan Stanley initiated coverage on shares of American Tower in a research note on Tuesday. They set an “overweight” rating and a $250.00 price objective on the stock. Citigroup boosted their target price on shares of American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Finally, JMP Securities initiated coverage on shares of American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 price target on the stock. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, American Tower presently has an average rating of “Buy” and an average target price of $232.07.

Check Out Our Latest Stock Report on AMT

American Tower Company Profile

(Free Report)

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.

Further Reading

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