MassMutual Private Wealth & Trust FSB Trims Stock Holdings in American Tower Co. (NYSE:AMT)

MassMutual Private Wealth & Trust FSB lowered its holdings in shares of American Tower Co. (NYSE:AMT) by 4.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp grew its holdings in shares of American Tower by 3.1% in the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock worth $4,924,091,000 after purchasing an additional 635,726 shares during the last quarter. Geode Capital Management LLC boosted its position in American Tower by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust’s stock valued at $2,599,074,000 after buying an additional 204,426 shares during the period. FMR LLC grew its stake in American Tower by 25.4% in the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after acquiring an additional 2,152,646 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of American Tower by 41.8% during the second quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock worth $1,243,333,000 after acquiring an additional 1,885,421 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of American Tower by 4.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,208,967 shares of the real estate investment trust’s stock valued at $1,211,397,000 after acquiring an additional 243,061 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction on 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.18% of the stock is owned by insiders.

American Tower Stock Performance

Shares of AMT stock opened at $190.51 on Tuesday. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The business’s fifty day simple moving average is $192.86 and its 200-day simple moving average is $211.54. 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 company has a market cap of $89.02 billion, a PE ratio of 80.39, a PEG ratio of 1.16 and a beta of 0.84.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 10.05% and a return on equity of 22.01%. The company’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the company earned $2.58 earnings per share. 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 announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Analysts Set New Price Targets

Several brokerages recently issued reports on AMT. JPMorgan Chase & Co. raised their price objective on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. BMO Capital Markets cut their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Mizuho cut their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, Scotiabank lowered their price target on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and a consensus price target of $230.67.

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.