FourThought Financial Partners LLC Sells 3,301 Shares of American Tower Co. (NYSE:AMT)

FourThought Financial Partners LLC trimmed its holdings in American Tower Co. (NYSE:AMT) by 3.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,186 shares of the real estate investment trust’s stock after selling 3,301 shares during the quarter. American Tower accounts for about 2.4% of FourThought Financial Partners LLC’s portfolio, making the stock its 3rd biggest holding. FourThought Financial Partners LLC’s holdings in American Tower were worth $19,253,000 as of its most recent SEC filing.

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

American Tower Stock Performance

Shares of American Tower stock traded up $2.10 during trading on Friday, reaching $181.74. The company’s stock had a trading volume of 3,130,327 shares, compared to its average volume of 2,879,452. The business’s fifty day moving average price is $189.15 and its 200-day moving average price is $194.39. American Tower Co. has a one year low of $154.58 and a one year high of $219.10. The firm has a market cap of $84.75 billion, a price-to-earnings ratio of 41.12, a price-to-earnings-growth ratio of 1.42 and a beta of 0.71. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.69 and a current ratio of 0.85.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.47). The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. American Tower’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.54 earnings per share. As a group, equities research analysts predict that American Tower Co. will post 9.96 earnings per share for the current year.

American Tower Cuts Dividend

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

Analyst Ratings Changes

Several research firms have recently commented on AMT. Mizuho began coverage on shares of American Tower in a report on Monday, April 8th. They set a “neutral” rating and a $205.00 price target on the stock. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. BMO Capital Markets reduced their price target on American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday. Barclays increased their price objective on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Finally, Raymond James upgraded shares of American Tower from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $226.00 to $248.00 in a research note on Wednesday. Three 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $221.91.

Insider Activity

In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction on 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 owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other 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 completion of the transaction, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the sale, 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. 0.18% of the stock is currently owned by company insiders.

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.