Mission Wealth Management LP Has $372,000 Stock Holdings in American Tower Co. (NYSE:AMT)

Mission Wealth Management LP lowered its position in American Tower Co. (NYSE:AMT) by 17.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,723 shares of the real estate investment trust’s stock after selling 363 shares during the period. Mission Wealth Management LP’s holdings in American Tower were worth $372,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Thompson Investment Management Inc. purchased a new position in shares of American Tower during the fourth quarter valued at approximately $29,000. McClarren Financial Advisors Inc. bought a new stake in shares of American Tower in the 3rd quarter worth $27,000. Emerald Advisers LLC bought a new position in shares of American Tower during the third quarter valued at about $29,000. Valley National Advisers Inc. boosted its holdings in American Tower by 200.0% during the fourth quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 118 shares during the last quarter. Finally, Oakworth Capital Inc. increased its stake in American Tower by 157.9% in the 4th quarter. Oakworth Capital Inc. now owns 196 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 120 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total transaction 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 $12,953,352.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction dated 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 owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the sale, the director now directly 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.

American Tower Stock Up 1.2 %

AMT stock opened at $181.76 on Friday. The stock has a 50-day simple moving average of $189.32 and a two-hundred day simple moving average of $194.30. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $219.10. The firm has a market capitalization of $84.76 billion, a PE ratio of 41.12, a PEG ratio of 1.42 and a beta of 0.71. The company has a quick ratio of 0.69, a current ratio of 0.85 and a debt-to-equity ratio of 3.39.

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

American Tower Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AMT shares. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Barclays boosted their price target on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Mizuho started coverage on shares of American Tower in a report on Monday, April 8th. They set a “neutral” rating and a $205.00 price objective for the company. Morgan Stanley increased their target price on shares of American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Finally, BMO Capital Markets lowered their price target on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday. Three investment 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $221.91.

American Tower Company 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.