Baker Tilly Wealth Management LLC Trims Stock Holdings in American Tower Co. (NYSE:AMT)

Baker Tilly Wealth Management LLC decreased its holdings in shares of American Tower Co. (NYSE:AMT) by 32.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,919 shares of the real estate investment trust’s stock after selling 1,404 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in American Tower were worth $535,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Balentine LLC bought a new stake in American Tower during the third quarter worth approximately $586,000. Nordea Investment Management AB boosted its stake 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 purchasing an additional 314,769 shares during the period. Point72 Hong Kong Ltd acquired a new position in American Tower during the third quarter valued at $1,156,000. Czech National Bank grew its position in American Tower by 6.9% during the third quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock valued at $22,128,000 after purchasing an additional 6,163 shares in the last quarter. Finally, Banque Cantonale Vaudoise raised its holdings in shares of American Tower by 46.8% during the third quarter. Banque Cantonale Vaudoise now owns 25,715 shares of the real estate investment trust’s stock worth $5,980,000 after acquiring an additional 8,195 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of analyst reports. Barclays lowered their price objective on American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. JPMorgan Chase & Co. raised their target price on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Scotiabank dropped their price objective on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 30th. Finally, Mizuho decreased their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and an average price target of $233.67.

American Tower Trading Down 3.1 %

Shares of American Tower stock traded down $5.59 on Friday, hitting $173.60. The stock had a trading volume of 811,029 shares, compared to its average volume of 2,002,417. The firm has a market capitalization of $81.12 billion, a P/E ratio of 73.25, a PEG ratio of 1.31 and a beta of 0.84. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The stock has a 50 day moving average of $195.74 and a 200 day moving average of $211.81. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same period in the prior year, the firm earned $2.58 earnings per share. American Tower’s revenue was down 10.5% compared to the same quarter last year. Sell-side analysts expect that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio is 273.42%.

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.