MassMutual Private Wealth & Trust FSB Reduces Stake in American Tower Co. (NYSE:AMT)

MassMutual Private Wealth & Trust FSB cut its holdings in shares of American Tower Co. (NYSE:AMT) by 4.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,860 shares of the real estate investment trust’s stock after selling 746 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in American Tower were worth $3,276,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AMT. Fortitude Family Office LLC raised its holdings in shares of American Tower by 269.0% during the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 78 shares during the last quarter. Fairscale Capital LLC purchased a new position in shares of American Tower during the 2nd quarter valued at about $27,000. Northwest Investment Counselors LLC acquired a new position in shares of American Tower in the 3rd quarter valued at about $30,000. Hara Capital LLC purchased a new stake in shares of American Tower in the third quarter worth about $31,000. Finally, Legacy Investment Solutions LLC acquired a new stake in American Tower during the third quarter worth about $34,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Trading Up 0.2 %

Shares of AMT stock opened at $190.51 on Tuesday. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The firm has a market capitalization of $89.02 billion, a P/E ratio of 80.39, a PEG ratio of 1.16 and a beta of 0.84. The stock’s fifty day moving average is $192.86 and its two-hundred day moving average is $211.54. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last posted its quarterly earnings results 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 business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.58 earnings per share. Research analysts expect that American Tower Co. will post 10.15 earnings per share for the current fiscal year.

American Tower Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Mizuho lowered their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group decreased their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. JPMorgan Chase & Co. raised their target price on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Finally, Barclays reduced their price target on American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, American Tower has an average rating of “Moderate Buy” and an average target price of $230.67.

Insider Buying and Selling at American Tower

In other 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 transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is owned by company insiders.

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.