Beaumont Financial Advisors LLC Reduces Stock Holdings in American Tower Co. (NYSE:AMT)

Beaumont Financial Advisors LLC decreased its holdings in American Tower Co. (NYSE:AMT) by 19.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,685 shares of the real estate investment trust’s stock after selling 3,484 shares during the quarter. Beaumont Financial Advisors LLC’s holdings in American Tower were worth $3,170,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC lifted its stake in American Tower by 29.9% in the fourth quarter. Fidelis Capital Partners LLC now owns 3,285 shares of the real estate investment trust’s stock worth $709,000 after acquiring an additional 757 shares during the period. Western Wealth Management LLC lifted its position in American Tower by 27.6% during the fourth quarter. Western Wealth Management LLC now owns 8,316 shares of the real estate investment trust’s stock valued at $1,795,000 after buying an additional 1,801 shares during the period. Obermeyer Wood Investment Counsel Lllp purchased a new position in American Tower during the fourth quarter valued at $248,000. Tilt Investment Management Holdings PBC purchased a new position in American Tower during the fourth quarter valued at $407,000. Finally, Cambridge Trust Co. lifted its position in American Tower by 28.8% during the fourth quarter. Cambridge Trust Co. now owns 86,915 shares of the real estate investment trust’s stock valued at $18,763,000 after buying an additional 19,450 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insiders Place Their Bets

In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the transaction, the director now directly owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the transaction, the director now directly owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the sale, the chief financial officer now directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AMT shares. BMO Capital Markets lowered their price objective on American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. JPMorgan Chase & Co. lowered their price objective on American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. Morgan Stanley raised their price objective on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research report on Monday. Mizuho assumed coverage on American Tower in a report on Monday, April 8th. They set a “neutral” rating and a $205.00 price target for the company. Finally, StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $217.36.

American Tower Stock Performance

NYSE AMT traded up $0.08 during trading hours on Friday, hitting $171.08. The company’s stock had a trading volume of 1,452,864 shares, compared to its average volume of 2,406,855. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10. The company’s 50 day simple moving average is $192.37 and its two-hundred day simple moving average is $193.43. The company has a market cap of $79.78 billion, a P/E ratio of 53.88, a price-to-earnings-growth ratio of 1.36 and a beta of 0.67. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing the consensus estimate of $2.10 by ($1.16). American Tower had a return on equity of 12.80% and a net margin of 13.31%. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the previous year, the business posted $2.34 earnings per share. American Tower’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, sell-side analysts expect that American Tower Co. will post 9.94 EPS for the current fiscal year.

American Tower Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be given a $1.62 dividend. The ex-dividend date is Thursday, April 11th. This represents a $6.48 annualized dividend and a yield of 3.79%. American Tower’s payout ratio is 203.77%.

About American Tower

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.