Lake Street Advisors Group LLC Lowers Position in American Tower Co. (NYSE:AMT)

Lake Street Advisors Group LLC trimmed its position in shares of American Tower Co. (NYSE:AMT) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,196 shares of the real estate investment trust’s stock after selling 119 shares during the quarter. Lake Street Advisors Group LLC’s holdings in American Tower were worth $1,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted its holdings in American Tower by 25.4% during the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after purchasing an additional 2,152,646 shares during the last quarter. Adelante Capital Management LLC lifted its position in shares of American Tower by 2,723.4% during the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock worth $279,890,000 after buying an additional 1,160,890 shares in the last quarter. State Street Corp boosted its stake in shares of American Tower by 3.1% in the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock worth $4,924,091,000 after buying an additional 635,726 shares during the last quarter. KBC Group NV grew its holdings in shares of American Tower by 270.4% in the third quarter. KBC Group NV now owns 466,772 shares of the real estate investment trust’s stock valued at $108,553,000 after acquiring an additional 340,742 shares in the last quarter. Finally, Brookfield Corp ON increased its position in shares of American Tower by 88.3% during the third quarter. Brookfield Corp ON now owns 710,725 shares of the real estate investment trust’s stock valued at $165,286,000 after acquiring an additional 333,209 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Trading Down 1.5 %

Shares of AMT stock opened at $200.75 on Thursday. The stock has a market capitalization of $93.81 billion, a price-to-earnings ratio of 84.70, a PEG ratio of 1.29 and a beta of 0.84. The company’s fifty day simple moving average is $186.16 and its two-hundred day simple moving average is $206.96. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same period in the previous year, the company posted $2.29 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were given a $1.62 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.23%. American Tower’s dividend payout ratio (DPR) is currently 273.42%.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.18% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on AMT. Wells Fargo & Company cut their price objective on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. JMP Securities initiated coverage on shares of American Tower in a report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target on the stock. The Goldman Sachs Group reduced their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. BMO Capital Markets lifted their price objective on shares of American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $225.21.

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.