WR Wealth Planners LLC Sells 97 Shares of American Tower Co. (NYSE:AMT)

WR Wealth Planners LLC reduced its position in shares of American Tower Co. (NYSE:AMT) by 8.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,086 shares of the real estate investment trust’s stock after selling 97 shares during the quarter. WR Wealth Planners LLC’s holdings in American Tower were worth $199,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cobblestone Capital Advisors LLC NY lifted its position in American Tower by 22.7% during the fourth quarter. Cobblestone Capital Advisors LLC NY now owns 73,052 shares of the real estate investment trust’s stock valued at $13,398,000 after purchasing an additional 13,531 shares during the last quarter. SVB Wealth LLC bought a new position in shares of American Tower in the 4th quarter valued at about $1,800,000. Yelin Lapidot Holdings Management Ltd. lifted its holdings in shares of American Tower by 84.3% in the 4th quarter. Yelin Lapidot Holdings Management Ltd. now owns 2,046 shares of the real estate investment trust’s stock valued at $375,000 after acquiring an additional 936 shares during the last quarter. Linscomb Wealth Inc. lifted its holdings in shares of American Tower by 1.0% in the 4th quarter. Linscomb Wealth Inc. now owns 51,761 shares of the real estate investment trust’s stock valued at $9,493,000 after acquiring an additional 498 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of American Tower in the 4th quarter valued at approximately $43,193,000. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Performance

Shares of NYSE:AMT opened at $205.61 on Friday. The company has a market capitalization of $96.08 billion, a price-to-earnings ratio of 86.76, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. 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 firm has a 50 day moving average of $187.09 and a 200 day moving average of $206.69.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, topping the consensus estimate of $1.79 by $0.83. The firm had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.29 EPS. On average, sell-side analysts predict that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were paid a dividend of $1.62 per share. The ex-dividend date was Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.15%. American Tower’s dividend payout ratio (DPR) is presently 134.72%.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AMT. Mizuho lowered their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a research report on Thursday. BMO Capital Markets raised their target price on shares of American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Finally, Citigroup decreased their price objective on shares of American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, American Tower has an average rating of “Moderate Buy” and a consensus price target of $225.21.

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.