American Tower Co. (NYSE:AMT) Stock Holdings Reduced by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its position in American Tower Co. (NYSE:AMT) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,473,280 shares of the real estate investment trust’s stock after selling 9,906 shares during the period. American Tower comprises approximately 3.2% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s portfolio, making the stock its 10th biggest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned 0.32% of American Tower worth $318,052,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Gateway Investment Advisers LLC lifted its position in shares of American Tower by 57.7% during the fourth quarter. Gateway Investment Advisers LLC now owns 35,751 shares of the real estate investment trust’s stock worth $7,718,000 after acquiring an additional 13,074 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of American Tower by 0.5% in the third quarter. Victory Capital Management Inc. now owns 177,288 shares of the real estate investment trust’s stock worth $29,155,000 after buying an additional 806 shares in the last quarter. PDS Planning Inc raised its position in shares of American Tower by 16.1% in the third quarter. PDS Planning Inc now owns 1,821 shares of the real estate investment trust’s stock worth $299,000 after buying an additional 253 shares in the last quarter. FAS Wealth Partners Inc. purchased a new stake in shares of American Tower in the fourth quarter worth $2,001,000. Finally, DNB Asset Management AS raised its position in shares of American Tower by 23.0% in the fourth quarter. DNB Asset Management AS now owns 159,805 shares of the real estate investment trust’s stock worth $34,499,000 after buying an additional 29,848 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 0.6 %

Shares of NYSE:AMT traded up $1.01 on Monday, reaching $172.31. 2,603,511 shares of the company traded hands, compared to its average volume of 2,428,275. The business’s 50-day simple moving average is $191.52 and its 200 day simple moving average is $194.09. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $219.10. The stock has a market capitalization of $80.36 billion, a P/E ratio of 54.19, a price-to-earnings-growth ratio of 1.35 and a beta of 0.67. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.29.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). American Tower had a net margin of 13.31% and a return on equity of 12.80%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same period last year, the business posted $2.34 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, equities analysts anticipate that American Tower Co. will post 9.94 EPS for the current fiscal year.

American Tower Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be paid a $1.62 dividend. The ex-dividend date is Thursday, April 11th. This represents a $6.48 annualized dividend and a dividend yield of 3.76%. American Tower’s payout ratio is presently 203.77%.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the sale, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the sale, the director now directly owns 18,545 shares in the company, valued at $3,532,080.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the completion of the sale, the chief financial officer now owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on AMT shares. JPMorgan Chase & Co. lowered their price objective on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Barclays increased their price objective on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. BMO Capital Markets lowered their price objective on American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Morgan Stanley increased their target price on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Finally, Mizuho initiated coverage on American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price on the stock. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $217.36.

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.