Strategic Blueprint LLC Sells 82 Shares of American Tower Co. (NYSE:AMT)

Strategic Blueprint LLC trimmed its holdings in shares of American Tower Co. (NYSE:AMT) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,891 shares of the real estate investment trust’s stock after selling 82 shares during the period. Strategic Blueprint LLC’s holdings in American Tower were worth $624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of American Tower by 0.3% during the third quarter. Vanguard Group Inc. now owns 60,930,583 shares of the real estate investment trust’s stock valued at $10,020,034,000 after buying an additional 196,942 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of American Tower by 5.6% during the third quarter. Wellington Management Group LLP now owns 12,984,052 shares of the real estate investment trust’s stock valued at $2,135,227,000 after buying an additional 691,934 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its position in shares of American Tower by 101,474.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,474,342 shares of the real estate investment trust’s stock valued at $2,219,094,000 after buying an additional 10,464,030 shares during the last quarter. Morgan Stanley lifted its position in shares of American Tower by 3.7% during the third quarter. Morgan Stanley now owns 7,269,957 shares of the real estate investment trust’s stock valued at $1,195,545,000 after buying an additional 258,030 shares during the last quarter. Finally, FMR LLC lifted its position in shares of American Tower by 2.1% during the third quarter. FMR LLC now owns 6,628,436 shares of the real estate investment trust’s stock valued at $1,090,046,000 after buying an additional 138,303 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AMT has been the subject of several research analyst reports. Mizuho initiated coverage on shares of American Tower in a research report on Monday. They issued a “neutral” rating and a $205.00 price objective for the company. Barclays increased their price objective on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. HSBC initiated coverage on shares of American Tower in a research report on Thursday, December 14th. They issued a “buy” rating and a $245.00 price objective for the company. Finally, BMO Capital Markets decreased their price objective on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $214.91.

American Tower Price Performance

Shares of NYSE:AMT opened at $181.96 on Thursday. The company has a market cap of $84.86 billion, a PE ratio of 57.22, a price-to-earnings-growth ratio of 1.30 and a beta of 0.67. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $219.10. The company’s 50 day moving average is $194.56 and its 200 day moving average is $193.13. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.29.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.74 billion. American Tower had a return on equity of 12.80% and a net margin of 13.31%. American Tower’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.34 EPS. On average, sell-side analysts forecast that American Tower Co. will post 10.08 EPS for the current year.

American Tower Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be issued a dividend of $1.62 per share. The ex-dividend date is Thursday, April 11th. This represents a $6.48 annualized dividend and a dividend yield of 3.56%. American Tower’s dividend payout ratio is presently 213.84%.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were 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 directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were 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 directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction of $962,584.84. Following the completion of the sale, the director now owns 18,545 shares in the company, valued at $3,532,080.70. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

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.