Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $288.53 Million Position in American Tower Co. (NYSE:AMT)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 0.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,460,266 shares of the real estate investment trust's stock after selling 13,014 shares during the quarter. American Tower makes up about 2.8% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's portfolio, making the stock its 10th biggest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned approximately 0.31% of American Tower worth $288,534,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank purchased a new stake in shares of American Tower during the fourth quarter valued at about $1,051,898,000. Wellington Management Group LLP lifted its position in American Tower by 21.9% during the fourth quarter. Wellington Management Group LLP now owns 15,823,622 shares of the real estate investment trust's stock valued at $3,416,004,000 after acquiring an additional 2,839,570 shares during the last quarter. Edgewood Management LLC grew its holdings in American Tower by 46.2% in the fourth quarter. Edgewood Management LLC now owns 4,985,879 shares of the real estate investment trust's stock worth $1,076,352,000 after purchasing an additional 1,576,683 shares during the last quarter. Jennison Associates LLC increased its position in shares of American Tower by 41.0% during the fourth quarter. Jennison Associates LLC now owns 5,299,306 shares of the real estate investment trust's stock worth $1,144,014,000 after purchasing an additional 1,541,029 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of American Tower by 2,329.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 1,329,779 shares of the real estate investment trust's stock valued at $218,682,000 after purchasing an additional 1,275,052 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Stock Performance

NYSE:AMT traded up $2.82 during mid-day trading on Thursday, hitting $179.66. The company's stock had a trading volume of 3,278,076 shares, compared to its average volume of 2,461,002. The business's fifty day moving average is $189.32 and its two-hundred day moving average is $194.30. The stock has a market cap of $83.78 billion, a price-to-earnings ratio of 40.65, a PEG ratio of 1.35 and a beta of 0.71. The company has a debt-to-equity ratio of 3.39, a current ratio of 0.85 and a quick ratio of 0.69. American Tower Co. has a 1 year low of $154.58 and a 1 year high of $219.10.

American Tower (NYSE:AMT - Get Free Report) last issued its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing analysts' consensus estimates of $2.43 by ($0.47). The company had revenue of $2.83 billion during the quarter, compared to analysts' expectations of $2.79 billion. American Tower had a return on equity of 18.45% and a net margin of 18.42%. The firm's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.54 EPS. Analysts anticipate that American Tower Co. will post 9.94 EPS for the current fiscal year.

American Tower Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.61%. The ex-dividend date was Thursday, April 11th. American Tower's dividend payout ratio (DPR) is 146.61%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Morgan Stanley boosted their target price on American Tower from $183.00 to $196.00 and gave the stock an "equal weight" rating in a research note on Monday, April 15th. 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 on the stock. JPMorgan Chase & Co. lowered their target price on shares of American Tower from $236.00 to $230.00 and set an "overweight" rating for the company in a research note on Wednesday, February 28th. Scotiabank cut their price target on shares of American Tower from $243.00 to $223.00 and set a "sector outperform" rating on the stock in a research note on Wednesday. Finally, Raymond James upgraded shares of American Tower from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the stock from $226.00 to $248.00 in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $221.91.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 11,510 shares of the firm's stock in a transaction 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 sale, the chief financial officer now owns 62,969 shares in the company, valued at $12,953,352.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Pamela D. A. Reeve sold 5,054 shares of the company'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 transaction of $962,584.84. Following the completion of the transaction, the director now directly owns 18,545 shares of the company's stock, valued at approximately $3,532,080.70. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.

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.

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