American Tower Co. (NYSE:AMT) Shares Sold by Aries Wealth Management

Aries Wealth Management lowered its stake in American Tower Co. (NYSE:AMT) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,449 shares of the real estate investment trust’s stock after selling 115 shares during the quarter. Aries Wealth Management’s holdings in American Tower were worth $529,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Personal Capital Advisors Corp raised its holdings 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 buying an additional 43 shares during the period. Lumature Wealth Partners LLC boosted its position in American Tower by 40.3% during the first quarter. Lumature Wealth Partners LLC now owns 174 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 50 shares during the period. McIlrath & Eck LLC grew its stake in shares of American Tower by 18.5% in the fourth quarter. McIlrath & Eck LLC now owns 333 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 52 shares during the last quarter. Golden State Equity Partners grew its stake in shares of American Tower by 7.0% in the first 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 during the last quarter. Finally, GeoWealth Management LLC grew its stake in shares of American Tower by 17.8% in the first quarter. GeoWealth Management LLC now owns 358 shares of the real estate investment trust’s stock worth $73,000 after acquiring an additional 54 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

American Tower Stock Down 0.7 %

NYSE AMT traded down $1.43 during trading on Monday, hitting $195.91. The stock had a trading volume of 1,828,621 shares, compared to its average volume of 2,359,985. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10. The company has a market capitalization of $91.36 billion, a PE ratio of 61.61, a P/E/G ratio of 1.40 and a beta of 0.68. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.69 and a current ratio of 0.69. The company’s 50-day moving average price is $198.11 and its two-hundred day moving average price is $191.45.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.74 billion. American Tower had a return on equity of 12.80% and a net margin of 13.31%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.34 earnings per share. As a group, sell-side analysts forecast that American Tower Co. will post 9.92 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 issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Thursday, April 11th. American Tower’s dividend payout ratio is 213.84%.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction on 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 sale, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction on 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 sale, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Pamela D. A. Reeve sold 5,054 shares of the company’s stock in a transaction 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 sale, the director now owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AMT. JPMorgan Chase & Co. reduced 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. BMO Capital Markets cut their price target on American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Barclays lifted 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. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, HSBC initiated coverage on American Tower in a research report on Thursday, December 14th. They set a “buy” rating and a $245.00 target price for the company. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $217.55.

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.