Williams Jones Wealth Management LLC. Lowers Stock Position in American Tower Co. (NYSE:AMT)

Williams Jones Wealth Management LLC. cut its holdings in American Tower Co. (NYSE:AMT) by 2.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,944 shares of the real estate investment trust’s stock after selling 1,652 shares during the quarter. Williams Jones Wealth Management LLC.’s holdings in American Tower were worth $10,994,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Minot DeBlois Advisors LLC purchased a new stake in American Tower in the fourth quarter worth about $29,000. Graney & King LLC purchased a new stake in shares of American Tower in the 4th quarter worth approximately $32,000. Roxbury Financial LLC bought a new position in American Tower during the 4th quarter valued at approximately $32,000. Crowley Wealth Management Inc. purchased a new position in American Tower during the fourth quarter valued at $37,000. Finally, Bank of Jackson Hole Trust bought a new stake in American Tower in the fourth quarter worth $46,000. 92.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AMT shares. UBS Group lifted their price target on American Tower from $245.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Royal Bank of Canada lifted their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. JMP Securities increased their price target on shares of American Tower from $248.00 to $260.00 and gave the company a “market outperform” rating in a report on Wednesday, April 30th. Raymond James boosted their price objective on shares of American Tower from $231.00 to $251.00 and gave the stock a “strong-buy” rating in a report on Wednesday, April 30th. Finally, Wells Fargo & Company increased their target price on American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $240.25.

American Tower Stock Performance

AMT opened at $215.11 on Tuesday. American Tower Co. has a 12-month low of $172.51 and a 12-month high of $243.56. The company has a market cap of $100.70 billion, a price-to-earnings ratio of 90.76, a PEG ratio of 1.29 and a beta of 0.86. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The company’s 50 day moving average is $215.11 and its 200 day moving average is $201.49.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.34. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the previous year, the firm posted $2.79 EPS. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. On average, equities research analysts predict that American Tower Co. will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Friday, June 13th. American Tower’s dividend payout ratio (DPR) is currently 174.81%.

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.