Pinion Investment Advisors LLC Decreases Position in American Tower Co. (NYSE:AMT)

Pinion Investment Advisors LLC lowered its position in American Tower Co. (NYSE:AMT) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,817 shares of the real estate investment trust’s stock after selling 83 shares during the quarter. Pinion Investment Advisors LLC’s holdings in American Tower were worth $333,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Balentine LLC acquired a new stake in shares of American Tower in the third quarter valued at approximately $586,000. Nordea Investment Management AB grew its holdings in American Tower by 28.5% during the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock valued at $260,743,000 after buying an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in American Tower during the third quarter worth $1,156,000. TigerOak Management L.L.C. acquired a new position in shares of American Tower in the fourth quarter worth $1,102,000. Finally, Brookstone Capital Management lifted its position in shares of American Tower by 29.0% in the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock valued at $1,629,000 after acquiring an additional 1,995 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is owned by company insiders.

American Tower Trading Up 2.0 %

NYSE AMT opened at $209.63 on Tuesday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company’s 50 day moving average price is $187.60 and its 200 day moving average price is $206.52. The firm has a market capitalization of $97.96 billion, a price-to-earnings ratio of 88.45, a PEG ratio of 1.29 and a beta of 0.84.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $2.51 billion. During the same quarter in the previous year, the business posted $2.29 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts predict that American Tower Co. will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.09%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 134.72%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AMT. Mizuho cut their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company cut their price objective on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Finally, JMP Securities started coverage on American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective on the stock. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, American Tower has a consensus rating of “Moderate Buy” and an average price target 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.