Romano Brothers AND Company Sells 294 Shares of American Tower Co. (NYSE:AMT)

Romano Brothers AND Company cut its stake in shares of American Tower Co. (NYSE:AMT) by 17.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,436 shares of the real estate investment trust’s stock after selling 294 shares during the period. Romano Brothers AND Company’s holdings in American Tower were worth $310,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. McClarren Financial Advisors Inc. bought a new position in American Tower in the 3rd quarter valued at $27,000. Emerald Advisers LLC bought a new position in shares of American Tower in the third quarter worth approximately $29,000. Thompson Investment Management Inc. purchased a new position in American Tower in the 4th quarter worth approximately $29,000. Pinnacle Holdings LLC bought a new stake in shares of American Tower during the 1st quarter worth $29,000. Finally, Eagle Bay Advisors LLC bought a new position in American Tower in the second quarter valued at $30,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Up 0.3 %

NYSE:AMT opened at $179.20 on Monday. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick ratio of 0.69. The firm’s 50-day moving average price is $193.88 and its 200-day moving average price is $193.57. The company has a market capitalization of $83.57 billion, a PE ratio of 56.35, a P/E/G ratio of 1.24 and a beta of 0.67.

American Tower (NYSE:AMT) last issued its quarterly earnings results 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 company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. American Tower’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.34 earnings per share. On average, equities analysts predict that American Tower Co. will post 10.05 EPS for the current fiscal year.

American Tower Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.62%. The ex-dividend date is Thursday, April 11th. American Tower’s dividend payout ratio is currently 203.77%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on AMT. Barclays lifted their price target on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. BMO Capital Markets reduced 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. JPMorgan Chase & Co. lowered their price objective on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, Mizuho assumed coverage on shares of American Tower in a research report on Monday, April 8th. They set a “neutral” rating and a $205.00 price target for the company. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $214.91.

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.