Creative Financial Designs Inc. ADV Sells 515 Shares of American Tower Co. (NYSE:AMT)

Creative Financial Designs Inc. ADV lowered its holdings in American Tower Co. (NYSE:AMT) by 69.3% in the fourth quarter, Holdings Channel reports. The firm owned 228 shares of the real estate investment trust’s stock after selling 515 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in American Tower were worth $42,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in American Tower in the third quarter valued at $34,000. Roxbury Financial LLC bought a new position in American Tower in the fourth quarter valued at $32,000. Hobbs Group Advisors LLC grew its position in shares of American Tower by 51.0% in the 3rd quarter. Hobbs Group Advisors LLC now owns 222 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 75 shares during the period. Larson Financial Group LLC grew its position in shares of American Tower by 49.3% in the 3rd quarter. Larson Financial Group LLC now owns 227 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 75 shares during the period. Finally, Bank of Jackson Hole Trust bought a new position in shares of American Tower in the 4th quarter valued at about $46,000. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the sale, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is owned by corporate insiders.

American Tower Price Performance

Shares of NYSE:AMT opened at $216.41 on Friday. The firm has a 50 day moving average of $195.99 and a 200-day moving average of $205.61. The stock has a market capitalization of $101.16 billion, a PE ratio of 91.31, a PEG ratio of 1.29 and a beta of 0.85. 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 Co. has a 12 month low of $170.46 and a 12 month 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, topping analysts’ consensus estimates of $1.79 by $0.83. The business had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.29 EPS. On average, equities research analysts predict that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.14%. This is a boost from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. American Tower’s dividend payout ratio is currently 141.37%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AMT. Barclays lifted their price objective on shares of American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a research report on Friday. BMO Capital Markets lifted their price objective on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Morgan Stanley decreased their price objective on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. Scotiabank decreased their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday, January 23rd. Finally, Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, American Tower has a consensus rating of “Buy” and a consensus target price of $229.43.

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.