Arkadios Wealth Advisors Decreases Stake in American Tower Co. (NYSE:AMT)

Arkadios Wealth Advisors cut its stake in American Tower Co. (NYSE:AMT) by 6.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,627 shares of the real estate investment trust’s stock after selling 110 shares during the period. Arkadios Wealth Advisors’ holdings in American Tower were worth $298,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ameriprise Financial Inc. increased its stake in shares of American Tower by 41.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock worth $1,243,333,000 after purchasing an additional 1,885,421 shares in the last quarter. Drucker Wealth 3.0 LLC acquired a new position in American Tower in the second quarter valued at $2,417,000. Delta Investment Management LLC grew its position in American Tower by 7.3% during the second quarter. Delta Investment Management LLC now owns 1,303 shares of the real estate investment trust’s stock valued at $253,000 after acquiring an additional 89 shares during the period. MBB Public Markets I LLC raised its holdings in American Tower by 1,984.8% in the second quarter. MBB Public Markets I LLC now owns 32,898 shares of the real estate investment trust’s stock valued at $6,395,000 after buying an additional 31,320 shares during the period. Finally, Makena Capital Management LLC acquired a new stake in American Tower in the 2nd quarter valued at $7,797,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 transaction of $3,000,283.70. Following the completion of the sale, the chief financial officer now 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

American Tower Trading Up 0.6 %

Shares of NYSE AMT opened at $186.31 on Friday. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company’s fifty day moving average is $192.48 and its 200-day moving average is $211.29. The stock has a market cap of $87.06 billion, a price-to-earnings ratio of 78.61, a P/E/G ratio of 1.27 and a beta of 0.84. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.58 EPS. Equities research analysts predict that American Tower Co. will post 10.15 EPS for the current year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date is Friday, December 27th. American Tower’s payout ratio is currently 273.42%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AMT shares. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Scotiabank dropped their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research report on Thursday. Wells Fargo & Company dropped their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday. The Goldman Sachs Group lowered their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Finally, BMO Capital Markets cut their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and a consensus price target of $226.42.

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.