Wealthsource Partners LLC Sells 104 Shares of American Tower Co. (NYSE:AMT)

Wealthsource Partners LLC reduced its stake in shares of American Tower Co. (NYSE:AMT) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,528 shares of the real estate investment trust’s stock after selling 104 shares during the quarter. Wealthsource Partners LLC’s holdings in American Tower were worth $330,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pinnacle Holdings LLC bought a new stake in shares of American Tower during the first quarter worth $29,000. Eagle Bay Advisors LLC bought a new position in shares of American Tower in the 2nd quarter valued at about $30,000. VitalStone Financial LLC acquired a new stake in American Tower during the 1st quarter worth $38,000. McClarren Financial Advisors Inc. bought a new position in shares of American Tower in the 3rd quarter worth $27,000. Finally, Lumature Wealth Partners LLC lifted its stake in American Tower by 40.3% in the first quarter. Lumature Wealth Partners LLC now owns 174 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 50 shares during the period. 92.69% of the stock is owned by institutional investors.

American Tower Trading Up 1.4 %

Shares of American Tower stock opened at $195.56 on Tuesday. 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 Co. has a 1 year low of $154.58 and a 1 year high of $219.10. The firm has a market capitalization of $91.20 billion, a PE ratio of 61.50, a price-to-earnings-growth ratio of 1.33 and a beta of 0.68. The firm’s 50 day moving average is $196.91 and its 200 day moving average is $191.86.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($1.16). The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. American Tower’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.34 EPS. Equities research analysts forecast that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $6.48 annualized dividend and a dividend yield of 3.31%. American Tower’s payout ratio is 213.84%.

Insider Transactions at American Tower

In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the 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 transaction, the director now owns 18,545 shares in the company, valued at $3,532,080.70. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Pamela D. A. Reeve sold 5,054 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the transaction, 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. Insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AMT. HSBC began coverage on American Tower in a research note on Thursday, December 14th. They issued a “buy” rating and a $245.00 target price for the company. StockNews.com downgraded 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 $235.00 to $228.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Barclays increased their price objective on American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Finally, JPMorgan Chase & Co. lowered their price target on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and an average target price of $217.55.

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.