Nations Financial Group Inc. IA ADV Sells 397 Shares of American Tower Co. (NYSE:AMT)

Nations Financial Group Inc. IA ADV cut its holdings in American Tower Co. (NYSE:AMT) by 6.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,403 shares of the real estate investment trust’s stock after selling 397 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in American Tower were worth $1,167,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AMT. Norges Bank bought a new position in American Tower in the fourth quarter worth approximately $1,051,898,000. Jennison Associates LLC raised its position in shares of American Tower by 41.0% during the 4th quarter. Jennison Associates LLC now owns 5,299,306 shares of the real estate investment trust’s stock valued at $1,144,014,000 after purchasing an additional 1,541,029 shares during the period. International Assets Investment Management LLC raised its position in shares of American Tower by 16,195.9% during the 4th quarter. International Assets Investment Management LLC now owns 849,340 shares of the real estate investment trust’s stock valued at $1,833,560,000 after purchasing an additional 844,128 shares during the period. Wellington Management Group LLP raised its position in shares of American Tower by 5.6% during the 3rd quarter. Wellington Management Group LLP now owns 12,984,052 shares of the real estate investment trust’s stock valued at $2,135,227,000 after purchasing an additional 691,934 shares during the period. Finally, Clearbridge Investments LLC raised its position in shares of American Tower by 22.9% during the 3rd quarter. Clearbridge Investments LLC now owns 3,255,988 shares of the real estate investment trust’s stock valued at $535,447,000 after purchasing an additional 607,199 shares during the period. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Performance

Shares of NYSE:AMT traded down $0.67 during midday trading on Friday, reaching $185.93. The company’s stock had a trading volume of 1,257,941 shares, compared to its average volume of 2,430,903. The firm has a market capitalization of $86.83 billion, a PE ratio of 42.07, a P/E/G ratio of 1.33 and a beta of 0.71. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.39. The stock has a fifty day moving average of $185.29 and a 200 day moving average of $196.16. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $219.10.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.47). The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.54 EPS. On average, equities analysts expect that American Tower Co. will post 10 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 14th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Friday, June 14th. American Tower’s payout ratio is 146.61%.

Insider Buying and Selling at American Tower

In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction of $962,584.84. Following the transaction, the director now directly owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the transaction, the director now directly owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the completion of the transaction, the chief financial officer now directly owns 62,969 shares in the company, valued at $12,953,352.99. The disclosure for this sale can be found here. Insiders have sold a total of 17,264 shares of company stock valued at $3,458,757 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

AMT has been the subject of several research analyst reports. Scotiabank cut their target price on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a research note on Wednesday, May 1st. Morgan Stanley lifted their price objective on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. dropped their price objective 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. Barclays lifted their price objective on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Finally, StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $221.91.

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.