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

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

Several other large investors have also modified their holdings of AMT. Roxbury Financial LLC acquired a new stake in shares of American Tower in the fourth quarter valued at approximately $32,000. Legacy Investment Solutions LLC acquired a new stake in shares of American Tower in the third quarter valued at approximately $34,000. Activest Wealth Management grew its position in shares of American Tower by 431.0% in the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 125 shares during the last quarter. Bank of Jackson Hole Trust acquired a new stake in shares of American Tower in the fourth quarter valued at approximately $46,000. Finally, Versant Capital Management Inc boosted its position in American Tower by 113.9% during the fourth quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 139 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMT has been the topic of a number of analyst reports. The Goldman Sachs Group decreased their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. JMP Securities initiated coverage on shares of American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 target price on the stock. Morgan Stanley decreased their target price on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. Finally, BMO Capital Markets raised their target price on shares of American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $225.21.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the firm’s 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 of the company’s stock, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.18% of the company’s stock.

American Tower Stock Performance

NYSE:AMT opened at $212.49 on Friday. The firm’s 50 day moving average is $189.60 and its two-hundred day moving average is $206.30. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The company has a market cap of $99.29 billion, a P/E ratio of 89.66, a P/E/G ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, beating 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 business had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter last year, the firm posted $2.29 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. Analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Friday, April 11th. This is an increase from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio (DPR) is currently 134.72%.

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.