American Tower Co. (NYSE:AMT) Shares Sold by AMG National Trust Bank

AMG National Trust Bank reduced its stake in shares of American Tower Co. (NYSE:AMT) by 15.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,478 shares of the real estate investment trust’s stock after selling 972 shares during the period. AMG National Trust Bank’s holdings in American Tower were worth $1,005,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in American Tower during the 3rd quarter worth $34,000. Activest Wealth Management grew its holdings in American Tower by 431.0% during the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 125 shares in the last quarter. Roxbury Financial LLC acquired a new position in American Tower during the 4th quarter worth $32,000. Hobbs Group Advisors LLC grew its holdings in American Tower by 51.0% during the 3rd quarter. Hobbs Group Advisors LLC now owns 222 shares of the real estate investment trust’s stock worth $52,000 after acquiring an additional 75 shares in the last quarter. Finally, Larson Financial Group LLC boosted its holdings in shares of American Tower by 49.3% in the 3rd quarter. Larson Financial Group LLC now owns 227 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 75 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Stock Up 2.7 %

AMT stock opened at $212.49 on Friday. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The company has a market capitalization of $99.29 billion, a price-to-earnings ratio of 89.66, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The firm’s 50-day moving average is $189.60 and its two-hundred day moving average is $206.30. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

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

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.20%. This is an increase from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. American Tower’s payout ratio is 134.72%.

Insiders Place Their Bets

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is owned by insiders.

Analysts Set New Price Targets

AMT has been the subject of several research reports. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Wells Fargo & Company decreased their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Mizuho decreased their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Morgan Stanley decreased their price target on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Finally, 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 for the company. Four analysts have rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $225.21.

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.