American Tower Co. (NYSE:AMT) Shares Sold by Strategic Blueprint LLC

Strategic Blueprint LLC reduced its position in American Tower Co. (NYSE:AMT) by 11.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,292 shares of the real estate investment trust’s stock after selling 441 shares during the quarter. Strategic Blueprint LLC’s holdings in American Tower were worth $604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Cetera Investment Advisers increased its stake in shares of American Tower by 3.1% in the 2nd quarter. Cetera Investment Advisers now owns 114,913 shares of the real estate investment trust’s stock valued at $22,337,000 after purchasing an additional 3,464 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in American Tower in the second quarter valued at approximately $9,248,000. Anchor Investment Management LLC increased its position in shares of American Tower by 3.3% in the second quarter. Anchor Investment Management LLC now owns 2,368 shares of the real estate investment trust’s stock valued at $460,000 after buying an additional 76 shares in the last quarter. Czech National Bank raised its stake in shares of American Tower by 6.9% during the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock worth $22,128,000 after buying an additional 6,163 shares during the period. Finally, Canandaigua National Bank & Trust Co. lifted its position in shares of American Tower by 2.5% during the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 11,243 shares of the real estate investment trust’s stock valued at $2,615,000 after buying an additional 272 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Down 0.5 %

Shares of AMT opened at $184.91 on Friday. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. 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 stock has a fifty day simple moving average of $190.97 and a two-hundred day simple moving average of $210.61. The company has a market capitalization of $86.41 billion, a PE ratio of 78.02, a price-to-earnings-growth ratio of 1.23 and a beta of 0.84.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.56). The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.58 earnings per share. As a group, equities analysts forecast that American Tower Co. will post 10.15 EPS 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 3.50%. The ex-dividend date is Friday, December 27th. American Tower’s payout ratio is presently 273.42%.

Wall Street Analyst Weigh In

AMT has been the subject of a number of research analyst reports. Barclays reduced their price objective on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday. BMO Capital Markets reduced their price target 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. Wells Fargo & Company lowered their price objective on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Citizens Jmp raised American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Four investment 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’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $226.23.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction on 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 owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is currently owned by 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.