Hemington Wealth Management Cuts Position in American Tower Co. (NYSE:AMT)

Hemington Wealth Management decreased its holdings in American Tower Co. (NYSE:AMT) by 10.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,027 shares of the real estate investment trust’s stock after selling 117 shares during the period. Hemington Wealth Management’s holdings in American Tower were worth $188,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. CX Institutional raised its stake in American Tower by 2.9% during the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock worth $450,000 after purchasing an additional 54 shares during the period. Palumbo Wealth Management LLC raised its stake in American Tower by 1.6% during the third quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock worth $864,000 after purchasing an additional 57 shares during the period. Rehmann Capital Advisory Group raised its stake in American Tower by 4.2% during the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock worth $332,000 after purchasing an additional 58 shares during the period. Precedent Wealth Partners LLC raised its stake in American Tower by 4.7% during the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock worth $235,000 after purchasing an additional 58 shares during the period. Finally, Fullcircle Wealth LLC raised its stake in American Tower by 1.2% during the third quarter. Fullcircle Wealth LLC now owns 5,053 shares of the real estate investment trust’s stock worth $1,123,000 after purchasing an additional 61 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Price Performance

Shares of AMT stock opened at $189.54 on Thursday. The firm has a market cap of $88.57 billion, a P/E ratio of 79.97, a P/E/G ratio of 1.27 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 firm has a fifty day moving average of $187.80 and a two-hundred day moving average of $209.34.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Analysts Set New Price Targets

AMT has been the topic of a number of research reports. Scotiabank cut their target price on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research note on Thursday, January 23rd. JMP Securities began coverage on shares of American Tower in a research note on Monday, January 27th. They issued an “outperform” rating and a $225.00 target price on the stock. 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. Wells Fargo & Company dropped their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Finally, Mizuho dropped their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $226.23.

Insider Activity

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated Thursday, January 16th. The shares were 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 approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.18% of the company’s stock.

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.