Axxcess Wealth Management LLC Sells 771 Shares of American Tower Co. (NYSE:AMT)

Axxcess Wealth Management LLC cut its holdings in shares of American Tower Co. (NYSE:AMT) by 10.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,428 shares of the real estate investment trust’s stock after selling 771 shares during the period. Axxcess Wealth Management LLC’s holdings in American Tower were worth $1,388,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMT. One Charles Private Wealth Services LLC increased its holdings in American Tower by 7.8% in the fourth quarter. One Charles Private Wealth Services LLC now owns 2,477 shares of the real estate investment trust’s stock valued at $535,000 after purchasing an additional 180 shares during the period. Merit Financial Group LLC increased its holdings in American Tower by 9.1% in the fourth quarter. Merit Financial Group LLC now owns 2,219 shares of the real estate investment trust’s stock valued at $479,000 after purchasing an additional 186 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in American Tower by 505.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 104,634 shares of the real estate investment trust’s stock valued at $22,589,000 after purchasing an additional 87,363 shares during the period. Aveo Capital Partners LLC acquired a new stake in American Tower in the fourth quarter valued at $344,000. Finally, Westover Capital Advisors LLC acquired a new stake in American Tower in the fourth quarter valued at $210,000. 92.69% of the stock is currently owned by institutional investors.

Insider Activity

In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the sale, the director now owns 18,545 shares in the company, valued at approximately $3,532,080.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the transaction, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction of $962,584.84. Following the transaction, the director now owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AMT has been the subject of a number of recent research reports. Mizuho initiated coverage on American Tower in a report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price objective for the company. Scotiabank decreased their price target on American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a report on Wednesday, May 1st. Barclays increased their price target on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Raymond James upgraded American Tower from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $226.00 to $248.00 in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. decreased their price target on American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $221.91.

American Tower Trading Up 1.2 %

AMT opened at $181.74 on Monday. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $219.10. The firm has a market capitalization of $84.75 billion, a PE ratio of 41.12, a P/E/G ratio of 1.43 and a beta of 0.71. The company has a debt-to-equity ratio of 3.39, a current ratio of 0.85 and a quick ratio of 0.85. The company’s 50-day moving average is $189.15 and its 200 day moving average is $194.80.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.47). The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.79 billion. American Tower had a return on equity of 18.45% and a net margin of 18.42%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the company earned $2.54 earnings per share. As a group, research analysts predict that American Tower Co. will post 9.96 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were paid a $1.62 dividend. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $6.48 annualized dividend and a dividend yield of 3.57%. American Tower’s payout ratio is 146.61%.

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.