Burney Co. Sells 770 Shares of American Tower Co. (NYSE:AMT)

Burney Co. cut its position in American Tower Co. (NYSE:AMT) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,614 shares of the real estate investment trust’s stock after selling 770 shares during the quarter. Burney Co.’s holdings in American Tower were worth $4,698,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC raised its holdings in American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 78 shares in the last quarter. Fairscale Capital LLC acquired a new position in shares of American Tower during the second quarter valued at about $27,000. Northwest Investment Counselors LLC acquired a new position in shares of American Tower during the third quarter valued at about $30,000. Hara Capital LLC acquired a new position in shares of American Tower during the third quarter valued at about $31,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of American Tower during the third quarter valued at about $34,000. 92.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Barclays cut their price objective on shares of American Tower from $251.00 to $215.00 and set an “overweight” rating on the stock in a report on Monday. Wells Fargo & Company downgraded shares of American Tower from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $245.00 to $230.00 in a report on Thursday, October 10th. Scotiabank cut their price target on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 30th. Mizuho cut their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and a consensus target price of $230.67.

American Tower Trading Up 0.8 %

American Tower stock opened at $180.31 on Thursday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The stock’s 50 day simple moving average is $193.58 and its two-hundred day simple moving average is $211.68. The firm has a market cap of $84.26 billion, a PE ratio of 76.08, a P/E/G ratio of 1.16 and a beta of 0.84.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter in the prior year, the company posted $2.58 EPS. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. Analysts anticipate that American Tower Co. will post 10.15 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.59%. American Tower’s dividend payout ratio (DPR) is 273.42%.

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.