Prudent Man Advisors LLC Has $1.08 Million Stock Position in American Tower Co. (NYSE:AMT)

Prudent Man Advisors LLC cut its stake in shares of American Tower Co. (NYSE:AMTFree Report) by 1.1% in the fourth quarter, Holdings Channel reports. The firm owned 5,020 shares of the real estate investment trust’s stock after selling 54 shares during the quarter. Prudent Man Advisors LLC’s holdings in American Tower were worth $1,084,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in American Tower by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 60,930,583 shares of the real estate investment trust’s stock worth $10,020,034,000 after acquiring an additional 196,942 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of American Tower by 5.6% during the third quarter. Wellington Management Group LLP now owns 12,984,052 shares of the real estate investment trust’s stock worth $2,135,227,000 after purchasing an additional 691,934 shares in the last quarter. Morgan Stanley increased its position in shares of American Tower by 3.7% in the 3rd quarter. Morgan Stanley now owns 7,269,957 shares of the real estate investment trust’s stock valued at $1,195,545,000 after buying an additional 258,030 shares in the last quarter. Akre Capital Management LLC increased its position in shares of American Tower by 0.5% in the 4th quarter. Akre Capital Management LLC now owns 6,804,599 shares of the real estate investment trust’s stock valued at $1,468,977,000 after buying an additional 36,375 shares in the last quarter. Finally, FMR LLC raised its stake in American Tower by 2.1% during the 3rd quarter. FMR LLC now owns 6,628,436 shares of the real estate investment trust’s stock worth $1,090,046,000 after buying an additional 138,303 shares during the period. Institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AMT shares. JPMorgan Chase & Co. lowered their price target on American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Raymond James raised American Tower from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $226.00 to $248.00 in a research note on Wednesday, May 1st. Scotiabank reduced their price target on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a report on Wednesday, May 1st. BMO Capital Markets lowered their price objective on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Finally, Mizuho started coverage on shares of American Tower in a research report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and a consensus price target of $220.91.

Get Our Latest Report on AMT

American Tower Stock Performance

Shares of AMT traded up $3.29 during mid-day trading on Tuesday, hitting $200.26. 373,344 shares of the company’s stock were exchanged, compared to its average volume of 2,439,245. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.39. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $219.10. The stock’s 50-day simple moving average is $184.70 and its 200-day simple moving average is $196.25. The firm has a market cap of $93.52 billion, a price-to-earnings ratio of 44.57, a price-to-earnings-growth ratio of 1.40 and a beta of 0.79.

American Tower (NYSE:AMTGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.47). The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.79 billion. American Tower had a return on equity of 18.45% and a net margin of 18.42%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.54 EPS. On average, equities research analysts expect that American Tower Co. will post 9.98 EPS for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 14th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.24%. American Tower’s payout ratio is currently 146.61%.

Insider Activity at American Tower

In other news, Director Robert D. Hormats sold 700 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total value of $128,450.00. Following the completion of the transaction, the director now directly owns 7,332 shares in the company, valued at approximately $1,345,422. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other American Tower news, Director Robert D. Hormats sold 700 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $183.50, for a total value of $128,450.00. Following the completion of the transaction, the director now owns 7,332 shares of the company’s stock, valued at approximately $1,345,422. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction dated Wednesday, March 6th. The shares were 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 directly owns 62,969 shares in the company, valued at $12,953,352.99. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by 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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