Fulton Breakefield Broenniman LLC Decreases Stake in American Tower Co. (NYSE:AMT)

Fulton Breakefield Broenniman LLC lessened its stake in shares of American Tower Co. (NYSE:AMT) by 25.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,529 shares of the real estate investment trust’s stock after selling 850 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in American Tower were worth $546,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Alera Investment Advisors LLC boosted its stake in American Tower by 1.3% in the 4th quarter. Alera Investment Advisors LLC now owns 4,105 shares of the real estate investment trust’s stock worth $886,000 after purchasing an additional 51 shares in the last quarter. First Business Financial Services Inc. raised its holdings in American Tower by 1.3% in the third quarter. First Business Financial Services Inc. now owns 4,290 shares of the real estate investment trust’s stock worth $705,000 after buying an additional 55 shares during the last quarter. Northcape Wealth Management LLC lifted its stake in shares of American Tower by 0.5% in the third quarter. Northcape Wealth Management LLC now owns 10,521 shares of the real estate investment trust’s stock worth $1,730,000 after buying an additional 56 shares in the last quarter. Augustine Asset Management Inc. grew its holdings in shares of American Tower by 0.8% during the fourth quarter. Augustine Asset Management Inc. now owns 7,092 shares of the real estate investment trust’s stock valued at $1,531,000 after buying an additional 56 shares during the last quarter. Finally, Teamwork Financial Advisors LLC increased its position in shares of American Tower by 2.8% during the third quarter. Teamwork Financial Advisors LLC now owns 2,139 shares of the real estate investment trust’s stock valued at $352,000 after acquiring an additional 59 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of NYSE AMT opened at $171.69 on Friday. 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 Co. has a 12-month low of $154.58 and a 12-month high of $219.10. The firm has a market capitalization of $80.07 billion, a price-to-earnings ratio of 53.99, a price-to-earnings-growth ratio of 1.36 and a beta of 0.67. The firm has a 50 day moving average of $190.29 and a 200 day moving average of $194.22.

American Tower (NYSE:AMT) last issued 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 business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the previous year, the firm earned $2.34 EPS. The company’s revenue was up 3.0% on a year-over-year basis. On average, research analysts anticipate that American Tower Co. will post 9.94 earnings per share for the current year.

American Tower Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were given a dividend of $1.62 per share. The ex-dividend date was Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.77%. American Tower’s payout ratio is currently 203.77%.

Analyst Ratings Changes

Several equities analysts recently issued reports on AMT shares. Morgan Stanley upped their price objective on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. JPMorgan Chase & Co. decreased their target price on American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. Barclays raised their price target on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Finally, BMO Capital Markets decreased their price objective on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $217.36.

Insider Activity at American Tower

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