Atticus Wealth Management LLC Has $88,000 Stock Position in American Tower Co. (NYSE:AMT)

Atticus Wealth Management LLC lessened its position in shares of American Tower Co. (NYSE:AMT) by 34.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 478 shares of the real estate investment trust’s stock after selling 249 shares during the quarter. Atticus Wealth Management LLC’s holdings in American Tower were worth $88,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. FMR LLC raised its holdings in shares of American Tower by 25.4% in the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after buying an additional 2,152,646 shares in the last quarter. Adelante Capital Management LLC grew its position in American Tower by 2,723.4% in the third quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock valued at $279,890,000 after acquiring an additional 1,160,890 shares during the period. Pathway Financial Advisers LLC lifted its holdings in shares of American Tower by 23,224.1% during the third quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock valued at $231,941,000 after acquiring an additional 993,061 shares during the period. International Assets Investment Management LLC grew its position in American Tower by 22,242.7% during the 3rd quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock worth $1,811,330,000 after acquiring an additional 775,379 shares during the last quarter. Finally, State Street Corp lifted its position in American Tower by 3.1% during the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock worth $4,924,091,000 after buying an additional 635,726 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Price Performance

NYSE AMT opened at $185.17 on Monday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The business has a 50 day simple moving average of $192.08 and a 200 day simple moving average of $211.14. The stock has a market cap of $86.53 billion, a price-to-earnings ratio of 78.13, a PEG ratio of 1.24 and a beta of 0.84.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the previous year, the business earned $2.58 earnings per share. The company’s revenue 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 fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio is currently 273.42%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Scotiabank lowered their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday. BMO Capital Markets dropped their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Barclays decreased their price objective on American Tower from $251.00 to $215.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. The Goldman Sachs Group dropped their target price on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, Mizuho cut their price objective 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. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and a consensus target price of $226.42.

Insider Buying and Selling

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.18% of the stock is currently owned by corporate 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.