SVB Wealth LLC Trims Position in American Tower Co. (NYSE:AMT)

SVB Wealth LLC decreased its holdings in American Tower Co. (NYSE:AMT - Free Report) by 20.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,664 shares of the real estate investment trust's stock after selling 13,240 shares during the quarter. SVB Wealth LLC's holdings in American Tower were worth $11,153,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of AMT. Personal Capital Advisors Corp grew its holdings in shares of American Tower by 1.7% during the 1st quarter. Personal Capital Advisors Corp now owns 2,510 shares of the real estate investment trust's stock valued at $631,000 after purchasing an additional 43 shares during the last quarter. Lumature Wealth Partners LLC grew its holdings in shares of American Tower by 40.3% during the 1st quarter. Lumature Wealth Partners LLC now owns 174 shares of the real estate investment trust's stock valued at $44,000 after purchasing an additional 50 shares during the last quarter. Alera Investment Advisors LLC grew its holdings in shares of American Tower by 1.3% during the 4th quarter. Alera Investment Advisors LLC now owns 4,105 shares of the real estate investment trust's stock valued at $886,000 after purchasing an additional 51 shares during the last quarter. McIlrath & Eck LLC grew its holdings in shares of American Tower by 18.5% during the 4th quarter. McIlrath & Eck LLC now owns 333 shares of the real estate investment trust's stock valued at $71,000 after purchasing an additional 52 shares during the last quarter. Finally, Golden State Equity Partners grew its holdings in shares of American Tower by 7.0% during the 1st quarter. Golden State Equity Partners now owns 806 shares of the real estate investment trust's stock valued at $202,000 after purchasing an additional 53 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Stock Down 3.3 %

Shares of NYSE AMT traded down $5.93 during midday trading on Tuesday, hitting $172.19. 3,848,656 shares of the stock traded hands, compared to its average volume of 2,417,197. The company has a market cap of $80.30 billion, a PE ratio of 54.15, a P/E/G ratio of 1.24 and a beta of 0.67. American Tower Co. has a one year low of $154.58 and a one year high of $219.10. The business has a 50 day moving average price of $193.26 and a two-hundred day moving average price of $193.74. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing the consensus estimate of $2.10 by ($1.16). The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. The company's revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.34 EPS. On average, equities analysts predict that American Tower Co. will post 10.05 EPS for the current year.

American Tower Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $6.48 annualized dividend and a dividend yield of 3.76%. American Tower's payout ratio is 203.77%.

Insider Activity at American Tower

In other news, Director Pamela D. A. Reeve sold 5,054 shares of the business's stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the transaction, the director now owns 18,545 shares in the company, valued at approximately $3,532,080.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the business's stock in a transaction on 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 transaction, the chief financial officer now 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 SEC, which can be accessed through the SEC website. Also, Director Pamela D. A. Reeve sold 5,054 shares of the business's stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the transaction, the director now directly owns 18,545 shares in the company, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on AMT. Morgan Stanley boosted their target price on shares of American Tower from $183.00 to $196.00 and gave the stock an "equal weight" rating in a report on Monday. JPMorgan Chase & Co. reduced their target price on shares of American Tower from $236.00 to $230.00 and set an "overweight" rating on the stock in a report on Wednesday, February 28th. BMO Capital Markets reduced their price objective on shares of American Tower from $235.00 to $228.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 28th. StockNews.com lowered shares of American Tower from a "buy" rating to a "hold" rating in a research note on Friday, March 1st. Finally, Mizuho initiated coverage on shares of American Tower in a research note on Monday, April 8th. They issued a "neutral" rating and a $205.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $217.36.

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.