Prudent Man Advisors LLC Sells 1,017 Shares of American Tower Co. (NYSE:AMT)

Prudent Man Advisors LLC reduced its stake in shares of American Tower Co. (NYSE:AMT) by 20.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,920 shares of the real estate investment trust’s stock after selling 1,017 shares during the period. Prudent Man Advisors LLC’s holdings in American Tower were worth $719,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Jacobi Capital Management LLC increased its stake in shares of American Tower by 5.3% in the fourth quarter. Jacobi Capital Management LLC now owns 8,103 shares of the real estate investment trust’s stock worth $1,486,000 after purchasing an additional 405 shares in the last quarter. Richard W. Paul & Associates LLC increased its stake in American Tower by 6.2% in the 4th quarter. Richard W. Paul & Associates LLC now owns 2,383 shares of the real estate investment trust’s stock worth $437,000 after buying an additional 140 shares in the last quarter. Metis Global Partners LLC increased its stake in American Tower by 3.0% in the 4th quarter. Metis Global Partners LLC now owns 25,689 shares of the real estate investment trust’s stock worth $4,712,000 after buying an additional 755 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of American Tower by 0.7% in the fourth quarter. Fisher Asset Management LLC now owns 1,742,997 shares of the real estate investment trust’s stock valued at $319,683,000 after acquiring an additional 11,427 shares in the last quarter. Finally, Cobblestone Capital Advisors LLC NY lifted its position in shares of American Tower by 22.7% in the fourth quarter. Cobblestone Capital Advisors LLC NY now owns 73,052 shares of the real estate investment trust’s stock valued at $13,398,000 after acquiring an additional 13,531 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Insider Transactions at American Tower

In other American Tower 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 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. This represents a 20.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

American Tower Stock Performance

Shares of 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 12 month low of $170.46 and a 12 month high of $243.56. The company has a market capitalization of $96.08 billion, a price-to-earnings ratio of 86.76, a PEG ratio of 1.29 and a beta of 0.84. The firm’s 50-day moving average is $187.09 and its 200 day moving average is $206.81.

American Tower (NYSE:AMT) last released 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 return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter in the prior year, the firm posted $2.29 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. Research analysts predict that American Tower Co. will post 10.14 EPS for the current year.

American Tower Dividend Announcement

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

Analyst Upgrades and Downgrades

AMT has been the topic of several recent analyst reports. Citizens Jmp raised American Tower to a “strong-buy” rating in a research note on Monday, January 27th. BMO Capital Markets boosted their target price on shares of American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday. JMP Securities assumed coverage on shares of American Tower in a research note on Monday, January 27th. They set an “outperform” rating and a $225.00 target price for the company. Morgan Stanley reduced their price target on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Finally, Mizuho cut their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, American Tower presently has an average rating of “Moderate Buy” and an average target price of $225.21.

American Tower Company 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.