Mayflower Financial Advisors LLC Sells 557 Shares of American Tower Co. (NYSE:AMT)

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

Several other hedge funds and other institutional investors have also bought and sold shares of AMT. FMR LLC lifted its holdings in shares of American Tower by 25.4% during the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock valued at $2,474,934,000 after purchasing an additional 2,152,646 shares during the last quarter. Adelante Capital Management LLC raised its stake in American Tower by 2,723.4% in the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock worth $279,890,000 after acquiring an additional 1,160,890 shares during the last quarter. Pathway Financial Advisers LLC raised its stake in American Tower by 23,224.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock worth $231,941,000 after acquiring an additional 993,061 shares during the last quarter. International Assets Investment Management LLC raised its stake in American Tower by 22,242.7% in 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 raised its stake in American Tower by 3.1% in 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 acquiring an additional 635,726 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of AMT opened at $187.06 on Wednesday. The company’s fifty day moving average is $191.94 and its 200-day moving average is $211.14. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The firm 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. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last posted 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 net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the previous year, the business posted $2.58 earnings per share. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. Equities analysts expect that American Tower Co. will post 10.15 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Friday, December 27th. American Tower’s payout ratio is 273.42%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group reduced their target price on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. BMO Capital Markets dropped their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Scotiabank lowered their price objective on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a report on Thursday, January 23rd. Finally, Barclays lowered their target price on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and an average price target of $226.23.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the sale, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is owned by insiders.

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.