American Tower Co. (NYSE:AMT) Shares Sold by Capital Asset Advisory Services LLC

Capital Asset Advisory Services LLC cut its position in shares of American Tower Co. (NYSE:AMTFree Report) by 23.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,152 shares of the real estate investment trust’s stock after selling 644 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in American Tower were worth $465,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. McClarren Financial Advisors Inc. acquired a new position in American Tower in the 3rd quarter valued at approximately $27,000. Emerald Advisers LLC purchased a new position in shares of American Tower during the 3rd quarter valued at $29,000. Pinnacle Holdings LLC acquired a new position in shares of American Tower in the first quarter worth $29,000. Eagle Bay Advisors LLC acquired a new position in American Tower in the second quarter worth approximately $30,000. Finally, Brown Shipley& Co Ltd bought a new position in American Tower during the third quarter valued at approximately $35,000. Institutional investors own 89.29% of the company’s stock.

American Tower Stock Down 0.9 %

Shares of NYSE:AMT opened at $197.34 on Monday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. The firm has a market cap of $92.03 billion, a P/E ratio of 62.06, a P/E/G ratio of 1.42 and a beta of 0.68. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10. The company’s 50-day moving average price is $198.51 and its two-hundred day moving average price is $191.35.

American Tower (NYSE:AMTGet Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($1.16). The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.74 billion. American Tower had a return on equity of 12.80% and a net margin of 13.31%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.34 earnings per share. As a group, research analysts forecast that American Tower Co. will post 9.92 EPS for the current fiscal year.

American Tower Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.28%. American Tower’s dividend payout ratio is 203.77%.

Analysts Set New Price Targets

Several analysts have commented on AMT shares. HSBC assumed coverage on shares of American Tower in a research report on Thursday, December 14th. They issued a “buy” rating and a $245.00 target price for the company. BMO Capital Markets dropped their price target on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. JPMorgan Chase & Co. lowered their target price on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Finally, Barclays upped their price target on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $217.55.

View Our Latest Stock Analysis on American Tower

Insider Activity

In other news, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction of $962,584.84. Following the completion of the transaction, the director now directly owns 18,545 shares in the company, valued at approximately $3,532,080.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the transaction, the director now owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Rodney M. Smith sold 11,510 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the sale, the chief financial officer now owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.

American Tower Profile

(Free Report)

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.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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