American Tower Co. (NYSE:AMT) Shares Sold by Perigon Wealth Management LLC

Perigon Wealth Management LLC lowered its stake in shares of American Tower Co. (NYSE:AMT) by 16.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,018 shares of the real estate investment trust’s stock after selling 978 shares during the quarter. Perigon Wealth Management LLC’s holdings in American Tower were worth $954,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fortitude Family Office LLC grew its holdings in American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 78 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in shares of American Tower during the third quarter worth about $30,000. Hara Capital LLC acquired a new position in American Tower in the third quarter worth about $31,000. Legacy Investment Solutions LLC bought a new stake in American Tower in the third quarter valued at about $34,000. Finally, Activest Wealth Management lifted its holdings in American Tower by 431.0% during the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 125 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AMT shares. BMO Capital Markets dropped their price target 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. Mizuho reduced their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company lowered their price objective on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Barclays cut their target price on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, JMP Securities assumed coverage on American Tower in a report on Monday. They set an “outperform” rating and a $225.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $226.23.

American Tower Trading Up 1.1 %

NYSE:AMT opened at $185.71 on Friday. The stock has a market cap of $86.78 billion, a price-to-earnings ratio of 78.36, a PEG ratio of 1.24 and a beta of 0.84. 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 1 year low of $170.46 and a 1 year high of $243.56. The business has a fifty day moving average of $191.32 and a 200-day moving average of $210.78.

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

American Tower Dividend Announcement

The company also recently declared 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. This represents a $6.48 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction that occurred on 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 approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

American Tower 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.