Schechter Investment Advisors LLC Reduces Holdings in American Tower Co. (NYSE:AMT)

Schechter Investment Advisors LLC reduced its stake in American Tower Co. (NYSE:AMT) by 28.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,863 shares of the real estate investment trust’s stock after selling 723 shares during the period. Schechter Investment Advisors LLC’s holdings in American Tower were worth $342,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Balentine LLC purchased a new position in shares of American Tower in the third quarter worth $586,000. Nordea Investment Management AB grew its holdings in American Tower by 28.5% in the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after acquiring an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of American Tower in the third quarter valued at about $1,156,000. TigerOak Management L.L.C. bought a new position in shares of American Tower during the fourth quarter valued at about $1,102,000. Finally, Brookstone Capital Management boosted its holdings in shares of American Tower by 29.0% during the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock worth $1,629,000 after purchasing an additional 1,995 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the transaction, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AMT has been the topic of a number of research analyst reports. Morgan Stanley reduced their price target on American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. JMP Securities began coverage on American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 target price for the company. Citigroup cut their price target on shares of American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Finally, 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 research report on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $225.21.

American Tower Price Performance

AMT stock opened at $209.01 on Thursday. 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 firm has a market capitalization of $97.67 billion, a price-to-earnings ratio of 88.19, a PEG ratio of 1.29 and a beta of 0.85. The firm has a 50 day moving average price of $188.53 and a 200-day moving average price of $206.45. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56.

American Tower (NYSE:AMT) last released its 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. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the previous year, the company posted $2.29 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities research analysts forecast that American Tower Co. will post 10.14 EPS for the current fiscal year.

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.