Appleton Partners Inc. MA Cuts Stock Holdings in American Tower Co. (REIT) (NYSE:AMT)

Appleton Partners Inc. MA trimmed its holdings in shares of American Tower Co. (REIT) (NYSE:AMT) by 0.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,366 shares of the real estate investment trust’s stock after selling 267 shares during the period. American Tower comprises approximately 1.4% of Appleton Partners Inc. MA’s portfolio, making the stock its 15th largest position. Appleton Partners Inc. MA’s holdings in American Tower were worth $16,553,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. NEXT Financial Group Inc raised its stake in shares of American Tower by 1.4% during the second quarter. NEXT Financial Group Inc now owns 2,819 shares of the real estate investment trust’s stock valued at $762,000 after acquiring an additional 38 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in shares of American Tower by 7.1% during the second quarter. Parkside Financial Bank & Trust now owns 631 shares of the real estate investment trust’s stock valued at $170,000 after acquiring an additional 42 shares during the last quarter. Quest Capital Management Inc. ADV raised its stake in shares of American Tower by 2.7% during the second quarter. Quest Capital Management Inc. ADV now owns 1,640 shares of the real estate investment trust’s stock valued at $443,000 after acquiring an additional 43 shares during the last quarter. Heritage Wealth Advisors raised its stake in shares of American Tower by 14.5% during the second quarter. Heritage Wealth Advisors now owns 348 shares of the real estate investment trust’s stock valued at $78,000 after acquiring an additional 44 shares during the last quarter. Finally, Adams Chetwood Wealth Management LLC raised its stake in shares of American Tower by 1.1% during the second quarter. Adams Chetwood Wealth Management LLC now owns 4,103 shares of the real estate investment trust’s stock valued at $1,108,000 after acquiring an additional 44 shares during the last quarter. Institutional investors and hedge funds own 89.57% of the company’s stock.

Shares of NYSE AMT traded up $3.48 on Thursday, reaching $265.48. 1,321,092 shares of the company’s stock traded hands, compared to its average volume of 1,812,782. American Tower Co. has a 12 month low of $197.50 and a 12 month high of $303.72. The business’s 50 day simple moving average is $274.67 and its two-hundred day simple moving average is $274.72. The company has a market cap of $120.90 billion, a price-to-earnings ratio of 48.27, a price-to-earnings-growth ratio of 2.18 and a beta of 0.30. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 3.32.

American Tower (NYSE:AMT) last announced its earnings results on Wednesday, October 27th. The real estate investment trust reported $1.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.27 by ($0.69). American Tower had a net margin of 27.44% and a return on equity of 39.34%. The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the prior year, the business posted $2.23 EPS. American Tower’s revenue for the quarter was up 21.9% on a year-over-year basis. Analysts forecast that American Tower Co. will post 9.18 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 15th. Stockholders of record on Tuesday, September 28th were issued a dividend of $1.31 per share. This is a boost from American Tower’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend was Monday, September 27th. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.97%. American Tower’s dividend payout ratio is presently 95.27%.

In related news, Director Joann A. Reed sold 866 shares of the firm’s stock in a transaction that occurred on Tuesday, November 16th. The shares were sold at an average price of $260.50, for a total value of $225,593.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David E. Sharbutt sold 739 shares of the firm’s stock in a transaction that occurred on Friday, September 3rd. The stock was sold at an average price of $300.71, for a total transaction of $222,224.69. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

AMT has been the subject of several recent analyst reports. Truist upped their price objective on shares of American Tower from $280.00 to $315.00 and gave the company a “buy” rating in a research note on Friday, July 30th. Oppenheimer downgraded shares of American Tower from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $305.00 to $300.00 in a research note on Friday, September 10th. KeyCorp increased their price target on shares of American Tower from $302.00 to $311.00 and gave the stock an “overweight” rating in a research note on Friday, October 29th. Raymond James decreased their price target on shares of American Tower from $296.00 to $294.00 and set an “outperform” rating for the company in a research note on Monday, November 1st. Finally, Argus increased their price target on shares of American Tower from $288.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, August 12th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $297.71.

About American Tower

American Tower Corp. provides real estate investment services, and owns, operates, and develops multitenant communications real estate properties. It operates through the following segments: U.S. & Canada, Asia-Pacific, Europe, Africa Latin America, and Services. The Asia-Pacific segment refers to the operations in Australia and India.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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