American Tower Co. (NYSE:AMT) Holdings Decreased by Hixon Zuercher LLC

Hixon Zuercher LLC cut its position in shares of American Tower Co. (NYSE:AMT) by 10.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,411 shares of the real estate investment trust’s stock after selling 2,009 shares during the quarter. Hixon Zuercher LLC’s holdings in American Tower were worth $3,010,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC grew its stake in American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 78 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of American Tower in the 3rd quarter worth about $30,000. Hara Capital LLC bought a new stake in American Tower in the 3rd quarter valued at about $31,000. Legacy Investment Solutions LLC acquired a new position in American Tower during the 3rd quarter valued at about $34,000. Finally, Activest Wealth Management grew its holdings in American Tower by 431.0% in the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 125 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on AMT shares. BMO Capital Markets decreased their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Mizuho lowered their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Barclays cut their price objective on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research report on Monday. Finally, StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have 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 a consensus price target of $226.23.

Insider Buying and Selling at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value 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 $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.18% of the company’s stock.

American Tower Stock Performance

Shares of NYSE AMT opened at $185.71 on Friday. The business’s 50-day simple moving average is $191.32 and its 200-day simple moving average is $210.78. American Tower Co. has a 52 week low of $170.46 and a 52 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 firm has a market cap of $86.78 billion, a price-to-earnings ratio of 78.36, a P/E/G ratio of 1.23 and a beta of 0.84.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same period in the prior year, the firm earned $2.58 EPS. The firm’s revenue was down 10.5% on a year-over-year basis. As a group, equities research analysts expect 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 paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s payout ratio is currently 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.