Baker Tilly Wealth Management LLC Reduces Stock Position in American Tower Co. (NYSE:AMT)

Baker Tilly Wealth Management LLC decreased its holdings in shares of American Tower Co. (NYSE:AMT) by 32.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,919 shares of the real estate investment trust’s stock after selling 1,404 shares during the period. Baker Tilly Wealth Management LLC’s holdings in American Tower were worth $535,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Balentine LLC purchased a new position in shares of American Tower in the 3rd quarter valued at approximately $586,000. Nordea Investment Management AB grew its holdings in shares of American Tower by 28.5% during the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock valued at $260,743,000 after buying an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of American Tower in the 3rd quarter worth $1,156,000. Czech National Bank raised its position in American Tower by 6.9% in the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock worth $22,128,000 after buying an additional 6,163 shares during the last quarter. Finally, Banque Cantonale Vaudoise raised its holdings in shares of American Tower by 46.8% during the third quarter. Banque Cantonale Vaudoise now owns 25,715 shares of the real estate investment trust’s stock valued at $5,980,000 after purchasing an additional 8,195 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Down 3.1 %

Shares of American Tower stock traded down $5.59 during trading hours on Friday, reaching $173.60. 811,029 shares of the company were exchanged, compared to its average volume of 2,002,417. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The firm has a market cap of $81.12 billion, a PE ratio of 73.25, a PEG ratio of 1.31 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock’s fifty day moving average is $195.74 and its 200 day moving average is $211.81.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The company had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower’s revenue was down 10.5% on a year-over-year basis. During the same period last year, the firm earned $2.58 earnings per share. As a group, equities research analysts forecast that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is 273.42%.

Analyst Ratings Changes

AMT has been the subject of several research analyst reports. BMO Capital Markets cut their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Mizuho decreased their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday. Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th. JPMorgan Chase & Co. upped their price target on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Finally, StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $233.67.

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.