Fifth Third Wealth Advisors LLC Sells 429 Shares of American Tower Co. (NYSE:AMT)

Fifth Third Wealth Advisors LLC lowered its holdings in American Tower Co. (NYSE:AMT) by 3.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 10,695 shares of the real estate investment trust’s stock after selling 429 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in American Tower were worth $1,962,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Thoroughbred Financial Services LLC bought a new stake in American Tower in the second quarter valued at $407,000. Massachusetts Financial Services Co. MA lifted its holdings in American Tower by 16.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,310,893 shares of the real estate investment trust’s stock worth $643,571,000 after buying an additional 464,429 shares during the period. One Capital Management LLC purchased a new position in shares of American Tower during the 2nd quarter worth approximately $1,763,000. Conscious Wealth Investments LLC grew its holdings in shares of American Tower by 1.8% during the 2nd quarter. Conscious Wealth Investments LLC now owns 13,799 shares of the real estate investment trust’s stock worth $2,891,000 after acquiring an additional 243 shares during the period. Finally, Clearstead Trust LLC raised its position in shares of American Tower by 257.8% in the 2nd quarter. Clearstead Trust LLC now owns 13,312 shares of the real estate investment trust’s stock worth $2,588,000 after acquiring an additional 9,591 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Price Performance

AMT opened at $178.99 on Wednesday. The company’s 50-day simple moving average is $193.58 and its two-hundred day simple moving average is $211.68. 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 stock has a market capitalization of $83.64 billion, a P/E ratio of 75.52, a P/E/G ratio of 1.31 and a beta of 0.84. 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 quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($1.56). The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.58 earnings per share. As a group, analysts predict that American Tower Co. will post 10.08 EPS for the current year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.62%. American Tower’s dividend payout ratio (DPR) is 273.42%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. BMO Capital Markets cut their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Mizuho lowered their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Barclays cut their price target on American Tower from $251.00 to $215.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Wells Fargo & Company cut American Tower from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, American Tower has an average rating of “Moderate Buy” and a consensus price target of $230.67.

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.