Collective Family Office LLC Sells 665 Shares of American Tower Co. (NYSE:AMT)

Collective Family Office LLC cut its stake in shares of American Tower Co. (NYSE:AMT – Get Rating) by 37.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,088 shares of the real estate investment trust’s stock after selling 665 shares during the quarter. Collective Family Office LLC’s holdings in American Tower were worth $231,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Public Investment Fund bought a new position in shares of American Tower in the second quarter valued at about $483,831,000. FMR LLC raised its holdings in shares of American Tower by 23.3% in the second quarter. FMR LLC now owns 9,329,088 shares of the real estate investment trust’s stock valued at $2,384,422,000 after buying an additional 1,762,240 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of American Tower by 33.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 5,101,466 shares of the real estate investment trust’s stock valued at $1,303,883,000 after buying an additional 1,270,504 shares during the last quarter. Artisan Partners Limited Partnership bought a new position in shares of American Tower in the second quarter valued at about $204,809,000. Finally, Nuveen Asset Management LLC raised its holdings in shares of American Tower by 19.5% in the third quarter. Nuveen Asset Management LLC now owns 4,658,127 shares of the real estate investment trust’s stock valued at $1,000,100,000 after buying an additional 760,958 shares during the last quarter. 89.65% of the stock is owned by institutional investors.

Insider Buying and Selling at American Tower

In other American Tower news, Director Samme L. Thompson sold 1,739 shares of the business’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $218.59, for a total value of $380,128.01. Following the sale, the director now owns 22,099 shares in the company, valued at approximately $4,830,620.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Rodney M. Smith sold 2,035 shares of the company’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $220.85, for a total transaction of $449,429.75. Following the sale, the chief financial officer now owns 48,645 shares in the company, valued at approximately $10,743,248.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Samme L. Thompson sold 1,739 shares of the company’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $218.59, for a total value of $380,128.01. Following the sale, the director now owns 22,099 shares in the company, valued at approximately $4,830,620.41. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,587 shares of company stock worth $1,947,849. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wells Fargo & Company lifted their price target on American Tower from $225.00 to $245.00 in a report on Wednesday, December 14th. Truist Financial lowered their price objective on American Tower from $325.00 to $275.00 and set a “buy” rating for the company in a research report on Friday, January 13th. UBS Group lowered their price objective on American Tower from $278.00 to $270.00 in a research report on Tuesday, December 13th. Raymond James lowered their price objective on American Tower from $233.00 to $227.00 and set an “outperform” rating for the company in a research report on Friday, February 24th. Finally, StockNews.com started coverage on American Tower in a research report on Thursday. They issued a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $260.31.

American Tower Trading Down 1.8 %

NYSE:AMT opened at $201.35 on Friday. American Tower Co. has a fifty-two week low of $178.17 and a fifty-two week high of $282.47. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market capitalization of $93.76 billion, a PE ratio of 52.44, a price-to-earnings-growth ratio of 2.17 and a beta of 0.56. The business’s 50-day simple moving average is $212.26 and its 200-day simple moving average is $215.51.

American Tower (NYSE:AMT – Get Rating) last released its earnings results on Thursday, February 23rd. The real estate investment trust reported ($1.47) EPS for the quarter, missing the consensus estimate of $2.16 by ($3.63). The firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.68 billion. American Tower had a net margin of 16.49% and a return on equity of 15.80%. The company’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.18 EPS. Sell-side analysts expect that American Tower Co. will post 9.24 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Friday, April 14th will be paid a $1.56 dividend. This represents a $6.24 annualized dividend and a yield of 3.10%. The ex-dividend date is Thursday, April 13th. American Tower’s payout ratio is 162.50%.

American Tower Company Profile

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American Tower Corp. provides real estate investment services, and owns, operates, and develops multi-tenant real estate properties. It offers leasing of space on communications sites to wireless service providers, radio and television broadcast companies. It operates through the following segments: U.S.