Mission Wealth Management LP Lowers Holdings in American Tower Co. (NYSE:AMT)

Mission Wealth Management LP lessened its holdings in American Tower Co. (NYSE:AMT) by 17.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,723 shares of the real estate investment trust’s stock after selling 363 shares during the period. Mission Wealth Management LP’s holdings in American Tower were worth $372,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AMT. Thompson Investment Management Inc. purchased a new stake in American Tower during the 4th quarter worth about $29,000. McClarren Financial Advisors Inc. acquired a new stake in American Tower in the third quarter valued at approximately $27,000. Emerald Advisers LLC purchased a new position in American Tower in the third quarter worth approximately $29,000. Valley National Advisers Inc. increased its position in shares of American Tower by 200.0% in the 4th quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 118 shares during the last quarter. Finally, Oakworth Capital Inc. lifted its position in shares of American Tower by 157.9% during the 4th quarter. Oakworth Capital Inc. now owns 196 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 120 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Up 1.2 %

NYSE:AMT opened at $181.76 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.69 and a debt-to-equity ratio of 3.39. The stock’s 50 day simple moving average is $189.32 and its 200-day simple moving average is $194.30. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $219.10. The firm has a market cap of $84.76 billion, a P/E ratio of 41.12, a PEG ratio of 1.42 and a beta of 0.71.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.79 billion. American Tower had a return on equity of 18.45% and a net margin of 18.42%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.54 EPS. Equities analysts anticipate that American Tower Co. will post 9.96 EPS for the current year.

American Tower Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend was Thursday, April 11th. American Tower’s payout ratio is 146.61%.

Wall Street Analyst Weigh In

AMT has been the topic of a number of analyst reports. Raymond James upgraded American Tower from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $226.00 to $248.00 in a research note on Wednesday. Mizuho began coverage on shares of American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 price target on the stock. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. BMO Capital Markets cut their price target on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, JPMorgan Chase & Co. reduced their price target on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and a consensus target price of $221.91.

Insider Transactions at American Tower

In related news, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the sale, the director now directly owns 18,545 shares in the company, valued at $3,532,080.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Pamela D. A. Reeve sold 5,054 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the sale, the director now owns 18,545 shares in the company, valued at approximately $3,532,080.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the sale, the chief financial officer now owns 62,969 shares in the company, valued at $12,953,352.99. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

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.