Smart Portfolios LLC Has $307,000 Stake in American Tower Co. (NYSE:AMT)

Smart Portfolios LLC decreased its holdings in American Tower Co. (NYSE:AMT) by 15.2% during the 4th quarter, HoldingsChannel reports. The firm owned 1,675 shares of the real estate investment trust’s stock after selling 300 shares during the quarter. Smart Portfolios LLC’s holdings in American Tower were worth $307,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Rehmann Capital Advisory Group boosted its holdings in American Tower by 4.2% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock worth $332,000 after buying an additional 58 shares during the period. Precedent Wealth Partners LLC lifted its stake in shares of American Tower by 4.7% during the 4th quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock valued at $235,000 after buying an additional 58 shares in the last quarter. Resonant Capital Advisors LLC raised its stake in American Tower by 5.8% during the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock valued at $206,000 after purchasing an additional 61 shares in the last quarter. Calamos Wealth Management LLC lifted its holdings in American Tower by 2.9% during the 4th quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust’s stock valued at $398,000 after buying an additional 61 shares in the last quarter. Finally, Sunburst Financial Group LLC lifted its position in shares of American Tower by 4.9% during the fourth quarter. Sunburst Financial Group LLC now owns 1,354 shares of the real estate investment trust’s stock valued at $248,000 after buying an additional 63 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on AMT. Citigroup upped their price target on shares of American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday. Barclays cut their price target on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Morgan Stanley lowered their price objective on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Scotiabank decreased 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 report on Thursday, January 23rd. Finally, JMP Securities assumed coverage on shares of American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $226.29.

Insider Buying and Selling at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.18% of the stock is currently owned by company insiders.

American Tower Price Performance

AMT stock opened at $209.95 on Wednesday. The stock has a market capitalization of $98.14 billion, a price-to-earnings ratio of 88.58, a PEG ratio of 1.29 and a beta of 0.85. 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 firm’s 50-day moving average price is $190.77 and its two-hundred day moving average price is $206.04.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same period in the prior year, the company earned $2.29 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. As a group, equities analysts predict that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be paid a $1.70 dividend. This is an increase from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a yield of 3.24%. American Tower’s payout ratio is 141.37%.

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.