Taylor Wealth Management Partners lowered its stake in American Tower Corp (NYSE:AMT) by 2.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 75,815 shares of the real estate investment trust’s stock after selling 2,168 shares during the period. American Tower makes up 6.9% of Taylor Wealth Management Partners’ investment portfolio, making the stock its 2nd biggest position. Taylor Wealth Management Partners’ holdings in American Tower were worth $11,993,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. First American Trust FSB lifted its holdings in shares of American Tower by 1.4% during the fourth quarter. First American Trust FSB now owns 9,652 shares of the real estate investment trust’s stock worth $1,527,000 after purchasing an additional 134 shares during the period. First Hawaiian Bank lifted its holdings in shares of American Tower by 1.2% during the fourth quarter. First Hawaiian Bank now owns 6,044 shares of the real estate investment trust’s stock worth $956,000 after purchasing an additional 73 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of American Tower by 0.9% during the fourth quarter. State of Alaska Department of Revenue now owns 212,215 shares of the real estate investment trust’s stock worth $33,568,000 after purchasing an additional 1,995 shares during the period. CHICAGO TRUST Co NA lifted its holdings in shares of American Tower by 5.3% during the fourth quarter. CHICAGO TRUST Co NA now owns 2,457 shares of the real estate investment trust’s stock worth $388,000 after purchasing an additional 124 shares during the period. Finally, CENTRAL TRUST Co lifted its holdings in shares of American Tower by 12.4% during the fourth quarter. CENTRAL TRUST Co now owns 5,302 shares of the real estate investment trust’s stock worth $838,000 after purchasing an additional 585 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

In other American Tower news, SVP Robert Joseph Meyer, Jr. sold 44,959 shares of American Tower stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $156.43, for a total value of $7,032,936.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven C. Marshall sold 163,166 shares of American Tower stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $156.86, for a total transaction of $25,594,218.76. The disclosure for this sale can be found here. Insiders have sold 370,823 shares of company stock valued at $59,320,913 in the last three months. 0.87% of the stock is owned by insiders.

NYSE AMT traded up $0.34 during mid-day trading on Monday, reaching $161.74. 108,538 shares of the stock were exchanged, compared to its average volume of 2,112,587. American Tower Corp has a one year low of $130.37 and a one year high of $168.58. The company has a market capitalization of $70.34 billion, a PE ratio of 25.35, a P/E/G ratio of 1.52 and a beta of 0.60. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 3.11.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, October 30th. The real estate investment trust reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. American Tower had a net margin of 17.07% and a return on equity of 18.55%. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the firm earned $1.73 earnings per share. American Tower’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, equities analysts expect that American Tower Corp will post 7.58 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 14th. Investors of record on Thursday, December 27th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Wednesday, December 26th. This is an increase from American Tower’s previous quarterly dividend of $0.79. American Tower’s dividend payout ratio (DPR) is currently 52.66%.

A number of equities analysts have recently commented on the stock. Moffett Nathanson lowered shares of American Tower from a “buy” rating to a “neutral” rating and set a $164.00 price target on the stock. in a report on Monday, December 3rd. Barclays lifted their price target on shares of American Tower from $156.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, October 31st. KeyCorp lifted their price target on shares of American Tower from $165.00 to $170.00 and gave the stock an “overweight” rating in a report on Wednesday, October 31st. Citigroup lowered shares of American Tower from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $161.00 to $176.00 in a report on Wednesday, October 31st. Finally, Zacks Investment Research upgraded shares of American Tower from a “sell” rating to a “hold” rating in a report on Thursday, October 18th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $166.33.

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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 170,000 communications sites.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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