Drucker Wealth 3.0 LLC Reduces Stock Position in American Tower Co. (NYSE:AMT)

Drucker Wealth 3.0 LLC lessened its holdings in American Tower Co. (NYSE:AMT) by 13.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,361 shares of the real estate investment trust’s stock after selling 1,799 shares during the quarter. Drucker Wealth 3.0 LLC’s holdings in American Tower were worth $2,084,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Toronto Dominion Bank grew its holdings in shares of American Tower by 7.2% during the fourth quarter. Toronto Dominion Bank now owns 268,712 shares of the real estate investment trust’s stock worth $49,284,000 after purchasing an additional 18,141 shares during the last quarter. Pinney & Scofield Inc. purchased a new position in shares of American Tower during the fourth quarter worth about $102,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of American Tower during the fourth quarter worth about $1,610,000. Parr Mcknight Wealth Management Group LLC purchased a new position in shares of American Tower during the fourth quarter worth about $1,049,000. Finally, Sunbelt Securities Inc. grew its holdings in shares of American Tower by 4.3% during the fourth quarter. Sunbelt Securities Inc. now owns 5,003 shares of the real estate investment trust’s stock worth $910,000 after purchasing an additional 206 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

Shares of NYSE:AMT opened at $211.89 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The company has a market cap of $99.19 billion, a P/E ratio of 89.41, a PEG ratio of 1.29 and a beta of 0.86. American Tower Co. has a 52 week low of $172.51 and a 52 week high of $243.56. The company has a 50-day moving average price of $215.21 and a 200 day moving average price of $201.65.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.34. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm’s revenue was down 9.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.79 earnings per share. Research analysts predict 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 will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be given a $1.70 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a yield of 3.21%. American Tower’s payout ratio is currently 174.81%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AMT shares. BMO Capital Markets raised their price objective on American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Wells Fargo & Company raised their price target on American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. Morgan Stanley started coverage on American Tower in a report on Tuesday, April 1st. They set an “overweight” rating and a $250.00 price target on the stock. Citigroup raised their price target on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Finally, Scotiabank raised their price target on American Tower from $234.00 to $248.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $240.25.

American Tower 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.