Stonegate Investment Group LLC Sells 112 Shares of American Tower Co. (NYSE:AMT)

Stonegate Investment Group LLC lowered its stake in shares of American Tower Co. (NYSE:AMT) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,331 shares of the real estate investment trust’s stock after selling 112 shares during the period. Stonegate Investment Group LLC’s holdings in American Tower were worth $1,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of AMT. Fortitude Family Office LLC increased its holdings in American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 78 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of American Tower in the third quarter worth about $30,000. Hara Capital LLC purchased a new stake in shares of American Tower in the third quarter worth about $31,000. Legacy Investment Solutions LLC bought a new position in American Tower during the third quarter valued at approximately $34,000. Finally, Activest Wealth Management grew its holdings in American Tower by 431.0% during the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of American Tower stock opened at $187.06 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock’s fifty day moving average is $191.94 and its two-hundred day moving average is $211.14. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The company has a market capitalization of $87.41 billion, a PE ratio of 78.93, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the previous year, the company posted $2.58 earnings per share. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, analysts expect that American Tower Co. will post 10.15 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research report on Monday. Mizuho dropped their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. The Goldman Sachs Group reduced their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, JMP Securities started coverage on American Tower in a research note on Monday. They set an “outperform” rating and a $225.00 price objective on the stock. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $226.23.

Insider Activity

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.18% of the company’s stock.

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.