DDD Partners LLC Cuts Stock Holdings in American Tower Co. (NYSE:AMT)

DDD Partners LLC lowered its position in American Tower Co. (NYSE:AMT) by 49.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,233 shares of the real estate investment trust’s stock after selling 45,788 shares during the period. DDD Partners LLC’s holdings in American Tower were worth $10,197,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Personal Capital Advisors Corp grew its position in American Tower by 1.7% during the 1st quarter. Personal Capital Advisors Corp now owns 2,510 shares of the real estate investment trust’s stock worth $631,000 after purchasing an additional 43 shares during the last quarter. Lumature Wealth Partners LLC lifted its stake in shares of American Tower by 40.3% in the 1st quarter. Lumature Wealth Partners LLC now owns 174 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 50 shares during the period. McIlrath & Eck LLC lifted its stake in shares of American Tower by 18.5% in the 4th quarter. McIlrath & Eck LLC now owns 333 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 52 shares during the period. Golden State Equity Partners increased its holdings in American Tower by 7.0% in the 1st quarter. Golden State Equity Partners now owns 806 shares of the real estate investment trust’s stock worth $202,000 after acquiring an additional 53 shares in the last quarter. Finally, GeoWealth Management LLC raised its stake in American Tower by 17.8% during the first quarter. GeoWealth Management LLC now owns 358 shares of the real estate investment trust’s stock worth $73,000 after purchasing an additional 54 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction on 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 transaction, the director now owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction on 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 in the company, valued at $12,953,352.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction on 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 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 owned by corporate insiders.

American Tower Price Performance

NYSE:AMT opened at $197.40 on Thursday. The firm has a market cap of $92.06 billion, a price-to-earnings ratio of 62.08, a price-to-earnings-growth ratio of 1.34 and a beta of 0.68. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.29. The company’s 50-day moving average is $196.36 and its two-hundred day moving average is $192.05. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $219.10.

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 for the quarter, missing the consensus estimate of $2.10 by ($1.16). The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.74 billion. American Tower had a return on equity of 12.80% and a net margin of 13.31%. The company’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.34 earnings per share. Research analysts expect that American Tower Co. will post 10.08 EPS for the current year.

American Tower Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.28%. The ex-dividend date is Thursday, April 11th. American Tower’s dividend payout ratio (DPR) is 213.84%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AMT shares. JPMorgan Chase & Co. dropped their price objective on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. HSBC assumed coverage on shares of American Tower in a report on Thursday, December 14th. They set a “buy” rating and a $245.00 price target for the company. Barclays boosted their price target on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, BMO Capital Markets reduced their price target on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $217.55.

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.