American Tower Co. (NYSE:AMT) Shares Sold by Darwin Wealth Management LLC

Darwin Wealth Management LLC lowered its stake in American Tower Co. (NYSE:AMT) by 7.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,241 shares of the real estate investment trust’s stock after selling 94 shares during the quarter. Darwin Wealth Management LLC’s holdings in American Tower were worth $268,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Jennison Associates LLC lifted its position in shares of 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 worth $1,144,014,000 after purchasing an additional 1,541,029 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of American Tower by 2,329.8% during 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 purchasing 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% during 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 purchasing an additional 844,128 shares in the last quarter. Wellington Management Group LLP increased its stake 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 worth $2,135,227,000 after buying an additional 691,934 shares during the period. Finally, Clearbridge Investments LLC increased its stake in shares of American Tower by 22.9% during 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 during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling

In related news, Director Pamela D. A. Reeve sold 5,054 shares of the 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 directly owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction 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 sale, the director now owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert D. Hormats sold 700 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $183.50, for a total value of $128,450.00. Following the completion of the sale, the director now directly owns 7,332 shares of the company’s stock, valued at approximately $1,345,422. The disclosure for this sale can be found here. Insiders sold a total of 17,264 shares of company stock valued at $3,458,757 over the last three months. 0.18% of the stock is currently owned by company insiders.

American Tower Stock Performance

Shares of AMT traded up $5.08 during mid-day trading on Thursday, reaching $186.42. 2,587,972 shares of the company’s stock were exchanged, compared to its average volume of 2,464,592. The company has a debt-to-equity ratio of 3.39, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $86.93 billion, a PE ratio of 42.18, a price-to-earnings-growth ratio of 1.43 and a beta of 0.71. The business’s fifty day simple moving average is $188.62 and its 200-day simple moving average is $194.99. American Tower Co. has a 52-week low of $154.58 and a 52-week high of $219.10.

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

American Tower Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors 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 3.48%. The ex-dividend date was Thursday, April 11th. American Tower’s dividend payout ratio is presently 146.61%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Scotiabank cut their target price on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, May 1st. Barclays upped their target price on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Finally, BMO Capital Markets dropped their price target on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and a consensus target price of $221.91.

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.