LWM Advisory Services LLC Sells 788 Shares of American Tower Co. (NYSE:AMT)

LWM Advisory Services LLC lessened its stake in shares of American Tower Co. (NYSE:AMT) by 26.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,189 shares of the real estate investment trust’s stock after selling 788 shares during the period. LWM Advisory Services LLC’s holdings in American Tower were worth $473,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in AMT. Jennison Associates LLC boosted its stake in shares of American Tower by 41.0% in the fourth quarter. Jennison Associates LLC now owns 5,299,306 shares of the real estate investment trust’s stock worth $1,144,014,000 after acquiring an additional 1,541,029 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of American Tower by 2,329.8% in the third quarter. Daiwa Securities Group Inc. now owns 1,329,779 shares of the real estate investment trust’s stock worth $218,682,000 after buying an additional 1,275,052 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of American Tower by 16,195.9% in the fourth quarter. International Assets Investment Management LLC now owns 849,340 shares of the real estate investment trust’s stock worth $1,833,560,000 after buying an additional 844,128 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of American Tower by 5.6% in the third quarter. Wellington Management Group LLP now owns 12,984,052 shares of the real estate investment trust’s stock worth $2,135,227,000 after buying an additional 691,934 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of American Tower by 22.9% in the third quarter. Clearbridge Investments LLC now owns 3,255,988 shares of the real estate investment trust’s stock worth $535,447,000 after buying an additional 607,199 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 2.0 %

AMT stock traded up $3.37 during midday trading on Monday, reaching $175.06. 2,113,991 shares of the company traded hands, compared to its average volume of 2,418,816. American Tower Co. has a 52-week low of $154.58 and a 52-week high of $219.10. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.69 and a current ratio of 0.69. The business has a 50 day moving average of $190.29 and a 200-day moving average of $194.42. The firm has a market capitalization of $81.64 billion, a price-to-earnings ratio of 53.99, a P/E/G ratio of 1.36 and a beta of 0.67.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($1.16). American Tower had a return on equity of 12.80% and a net margin of 13.31%. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter in the previous year, the company posted $2.34 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, sell-side analysts expect that American Tower Co. will post 9.94 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were issued a $1.62 dividend. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $6.48 annualized dividend and a dividend yield of 3.70%. American Tower’s payout ratio is 203.77%.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased their target price 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. Barclays boosted their target price on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Mizuho initiated coverage on American Tower in a research report on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price on the stock. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, BMO Capital Markets decreased their price objective on American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $217.36.

Insider Transactions at American Tower

In other 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 sale, the director now directly owns 18,545 shares in the company, valued at $3,532,080.70. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 completion of the transaction, the director now directly owns 18,545 shares in the company, valued at approximately $3,532,080.70. 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.