Private Trust Co. NA Sells 228 Shares of American Tower Co. (NYSE:AMT)

Private Trust Co. NA decreased its stake in American Tower Co. (NYSE:AMT) by 3.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 7,087 shares of the real estate investment trust’s stock after selling 228 shares during the quarter. Private Trust Co. NA’s holdings in American Tower were worth $1,300,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. State Street Corp grew its holdings in shares of American Tower by 3.1% in the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock valued at $4,924,091,000 after acquiring an additional 635,726 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 acquiring an additional 204,426 shares in the last quarter. FMR LLC grew its holdings in shares of 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 valued at $2,474,934,000 after acquiring an additional 2,152,646 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of American Tower by 4.9% in the 3rd 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. Finally, Franklin Resources Inc. grew its holdings in American Tower by 0.9% during the third quarter. Franklin Resources Inc. now owns 4,422,273 shares of the real estate investment trust’s stock worth $981,455,000 after purchasing an additional 38,436 shares during the period. Institutional investors own 92.69% of the company’s stock.

Insider Activity

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value 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 Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AMT has been the subject of a number of research analyst reports. Scotiabank reduced their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. Morgan Stanley reduced their price target on American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Mizuho reduced their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. The Goldman Sachs Group reduced their price target on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Finally, BMO Capital Markets lifted their price target on American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $225.21.

American Tower Stock Up 0.8 %

NYSE AMT opened at $205.61 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The company has a 50 day moving average of $187.09 and a 200-day moving average of $206.81. The company has a market cap of $96.08 billion, a price-to-earnings ratio of 86.76, a PEG ratio of 1.29 and a beta of 0.84.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share 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 company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the previous year, the business earned $2.29 earnings per share. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities research analysts expect that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were given a $1.62 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.15%. American Tower’s payout ratio is 273.42%.

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.