Founders Financial Alliance LLC Lowers Stock Position in American Tower Co. (NYSE:AMT)

Founders Financial Alliance LLC reduced its position in American Tower Co. (NYSE:AMT) by 8.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,399 shares of the real estate investment trust’s stock after selling 226 shares during the period. Founders Financial Alliance LLC’s holdings in American Tower were worth $440,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Roxbury Financial LLC acquired a new stake in American Tower during the fourth quarter worth about $32,000. Legacy Investment Solutions LLC purchased a new stake in shares of American Tower during the 3rd quarter worth about $34,000. Activest Wealth Management increased its position 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 purchasing an additional 125 shares in the last quarter. Bank of Jackson Hole Trust purchased a new position in American Tower in the fourth quarter valued at approximately $46,000. Finally, Versant Capital Management Inc lifted its position in American Tower by 113.9% during the fourth quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 139 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Performance

Shares of AMT stock opened at $213.42 on Tuesday. 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 business has a 50 day moving average of $190.23 and a two-hundred day moving average of $206.16. The company has a market cap of $99.77 billion, a P/E ratio of 90.05, a PEG ratio of 1.29 and a beta of 0.85. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56.

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

American Tower Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be given a dividend of $1.70 per share. The ex-dividend date is Friday, April 11th. This represents a $6.80 annualized dividend and a dividend yield of 3.19%. This is a positive change from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio is currently 141.37%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AMT. Barclays dropped 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, January 28th. Citigroup boosted their price objective on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday. BMO Capital Markets increased their target price on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Mizuho reduced their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, The Goldman Sachs Group lowered 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 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $226.29.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is currently 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.