Godshalk Welsh Capital Management Inc. Sells 231 Shares of American Tower Co. (NYSE:AMT)

Godshalk Welsh Capital Management Inc. lowered its stake in shares of American Tower Co. (NYSE:AMT) by 3.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,054 shares of the real estate investment trust’s stock after selling 231 shares during the quarter. Godshalk Welsh Capital Management Inc.’s holdings in American Tower were worth $1,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Roxbury Financial LLC purchased a new position in shares of American Tower during the 4th quarter worth approximately $32,000. Graney & King LLC bought a new stake in shares of American Tower during the fourth quarter valued at approximately $32,000. Legacy Investment Solutions LLC purchased a new stake in American Tower in the third quarter worth $34,000. Crowley Wealth Management Inc. purchased a new stake in American Tower in the fourth quarter worth $37,000. Finally, Bank of Jackson Hole Trust purchased a new position in American Tower during the fourth quarter valued at $46,000. 92.69% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was 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 owns 62,792 shares in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on AMT shares. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Barclays upped their price objective on shares of American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. JMP Securities assumed coverage on American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target on the stock. BMO Capital Markets raised their price objective on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Finally, Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $229.43.

American Tower Trading Up 0.2 %

American Tower stock opened at $209.91 on Thursday. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The business’s fifty day moving average is $197.91 and its 200 day moving average is $204.94. The stock has a market capitalization of $98.12 billion, a PE ratio of 88.57, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (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 firm 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 quarterly revenue was up 3.7% compared to the same quarter last year. On average, sell-side analysts predict that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be paid a dividend of $1.70 per share. The ex-dividend date is Friday, April 11th. This is a positive change from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a yield of 3.24%. American Tower’s payout ratio is currently 141.37%.

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.