Flagship Harbor Advisors LLC Has $1.21 Million Stake in American Tower Co. (NYSE:AMT)

Flagship Harbor Advisors LLC lowered its stake in American Tower Co. (NYSE:AMT) by 2.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,590 shares of the real estate investment trust’s stock after selling 156 shares during the period. Flagship Harbor Advisors LLC’s holdings in American Tower were worth $1,209,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in AMT. Cyndeo Wealth Partners LLC boosted its position in American Tower by 3.0% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 18,416 shares of the real estate investment trust’s stock worth $3,378,000 after purchasing an additional 534 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of American Tower by 4.6% in the fourth quarter. Geneos Wealth Management Inc. now owns 4,440 shares of the real estate investment trust’s stock worth $814,000 after buying an additional 195 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its holdings in shares of American Tower by 1.1% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 15,209 shares of the real estate investment trust’s stock worth $2,789,000 after buying an additional 170 shares during the period. Cottonwood Capital Advisors LLC grew its stake in American Tower by 20.8% in the 4th quarter. Cottonwood Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock valued at $204,000 after buying an additional 192 shares during the last quarter. Finally, Gradient Investments LLC raised its holdings in American Tower by 7.2% in the 4th quarter. Gradient Investments LLC now owns 66,151 shares of the real estate investment trust’s stock worth $12,133,000 after acquiring an additional 4,416 shares during the period. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Down 0.7 %

NYSE AMT opened at $185.17 on Monday. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The company has a market capitalization of $86.53 billion, a price-to-earnings ratio of 78.13, a PEG ratio of 1.24 and a beta of 0.84. The stock’s 50 day moving average is $192.08 and its two-hundred day moving average is $211.14. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last announced its quarterly 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 during 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%. American Tower’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.58 EPS. Equities analysts forecast that American Tower Co. will post 10.15 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be given a $1.62 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.50%. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AMT. Mizuho lowered 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. Barclays dropped their price target on American Tower from $251.00 to $215.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Scotiabank reduced their price objective on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday. Wells Fargo & Company dropped their target price on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, The Goldman Sachs Group reduced their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, American Tower currently has an average rating of “Moderate Buy” and an average price target of $226.42.

Insiders Place Their Bets

In other 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 value of $3,000,283.70. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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.