Salvus Wealth Management LLC Trims Stake in American Tower Co. (NYSE:AMT)

Salvus Wealth Management LLC decreased its stake in shares of American Tower Co. (NYSE:AMT) by 10.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,542 shares of the real estate investment trust’s stock after selling 921 shares during the quarter. Salvus Wealth Management LLC’s holdings in American Tower were worth $1,383,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of AMT. Bradley Foster & Sargent Inc. CT boosted its position in shares of American Tower by 3.8% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 6,853 shares of the real estate investment trust’s stock valued at $1,332,000 after buying an additional 251 shares during the last quarter. E Fund Management Co. Ltd. increased its holdings in American Tower by 140.6% during the second quarter. E Fund Management Co. Ltd. now owns 3,487 shares of the real estate investment trust’s stock valued at $678,000 after buying an additional 2,038 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of American Tower by 113.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 59,416 shares of the real estate investment trust’s stock valued at $11,549,000 after acquiring an additional 31,616 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its position in American Tower by 11.0% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,456 shares of the real estate investment trust’s stock worth $1,449,000 after buying an additional 740 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of American Tower by 4.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 38,647 shares of the real estate investment trust’s stock valued at $7,512,000 after buying an additional 1,757 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 5.5 %

NYSE AMT opened at $190.26 on Friday. The company has a fifty day simple moving average of $193.24 and a two-hundred day simple moving average of $211.46. 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 market cap of $88.91 billion, a P/E ratio of 80.28, a P/E/G ratio of 1.16 and a beta of 0.84. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same period last year, the firm earned $2.58 earnings per share. American Tower’s revenue for the quarter was down 10.5% compared to the same quarter last year. On average, analysts forecast that American Tower Co. will post 10.15 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Friday, December 27th. American Tower’s payout ratio is 273.42%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Mizuho dropped their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. upped their price objective on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Barclays lowered their price target on American Tower from $251.00 to $215.00 and set an “overweight” rating on the stock in a report on Monday. Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. Finally, Scotiabank decreased their target price on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and a consensus target price of $230.67.

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.