Sanibel Captiva Trust Company Inc. Reduces Position in American Tower Co. (NYSE:AMT)

Sanibel Captiva Trust Company Inc. trimmed its stake in American Tower Co. (NYSE:AMT) by 23.6% in the 4th quarter, HoldingsChannel reports. The firm owned 2,361 shares of the real estate investment trust’s stock after selling 729 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in American Tower were worth $433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. CX Institutional raised its position in shares of American Tower by 2.9% in the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock valued at $450,000 after buying an additional 54 shares during the last quarter. Palumbo Wealth Management LLC raised its holdings in American Tower by 1.6% in the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock valued at $864,000 after acquiring an additional 57 shares during the last quarter. Rehmann Capital Advisory Group lifted its stake in American Tower by 4.2% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock worth $332,000 after purchasing an additional 58 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of American Tower by 5.3% during the 3rd quarter. Sivia Capital Partners LLC now owns 1,179 shares of the real estate investment trust’s stock worth $274,000 after purchasing an additional 59 shares during the last quarter. Finally, Fullcircle Wealth LLC grew its position in shares of American Tower by 1.2% in the third quarter. Fullcircle Wealth LLC now owns 5,053 shares of the real estate investment trust’s stock valued at $1,123,000 after purchasing an additional 61 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Insider Buying and Selling at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is owned by insiders.

American Tower Trading Up 0.2 %

Shares of NYSE AMT opened at $190.51 on Monday. 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 stock has a market capitalization of $89.02 billion, a PE ratio of 80.39, a PEG ratio of 1.16 and a beta of 0.84. The stock has a fifty day simple moving average of $192.86 and a 200-day simple moving average of $211.42. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The company had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm’s revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.58 EPS. On average, equities analysts forecast that American Tower Co. will post 10.15 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be issued a $1.62 dividend. The ex-dividend date is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.40%. American Tower’s payout ratio is 273.42%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AMT. Scotiabank lowered their price objective on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, October 30th. Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. BMO Capital Markets cut their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Finally, StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Four investment 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $230.67.

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.