Mayflower Financial Advisors LLC Has $1.45 Million Position in American Tower Co. (NYSE:AMT)

Mayflower Financial Advisors LLC reduced its stake in American Tower Co. (NYSE:AMT) by 6.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,916 shares of the real estate investment trust’s stock after selling 557 shares during the period. Mayflower Financial Advisors LLC’s holdings in American Tower were worth $1,452,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fortitude Family Office LLC boosted its position in shares of 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 valued at $25,000 after acquiring an additional 78 shares during the period. Northwest Investment Counselors LLC bought a new stake in shares of American Tower in the third quarter valued at about $30,000. Hara Capital LLC bought a new stake in shares of American Tower in the third quarter valued at about $31,000. Legacy Investment Solutions LLC bought a new stake in shares of American Tower in the third quarter valued at about $34,000. Finally, Activest Wealth Management boosted its position in shares of American Tower by 431.0% in the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 125 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AMT. JMP Securities began coverage on shares of American Tower in a research report on Monday. They set an “outperform” rating and a $225.00 price objective for the company. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research report on Monday. BMO Capital Markets cut 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. Mizuho cut their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, The Goldman Sachs Group cut their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average target price of $226.23.

American Tower Stock Performance

Shares of AMT stock opened at $187.06 on Wednesday. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The firm has a 50 day moving average of $191.94 and a 200-day moving average of $211.14. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The company has a market cap of $87.41 billion, a price-to-earnings ratio of 78.93, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (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 firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the prior year, the business earned $2.58 earnings per share. American Tower’s revenue for the quarter was down 10.5% on a year-over-year basis. On average, equities analysts forecast that American Tower Co. will post 10.15 earnings per share for the current year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

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.