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

Private Trust Co. NA trimmed its position in American Tower Co. (NYSE:AMT) by 3.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 7,087 shares of the real estate investment trust’s stock after selling 228 shares during the period. Private Trust Co. NA’s holdings in American Tower were worth $1,300,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Hara Capital LLC bought a new position in American Tower in the 3rd quarter valued at $31,000. Legacy Investment Solutions LLC bought a new position in American Tower in the 3rd quarter valued at $34,000. Activest Wealth Management boosted its position in American Tower by 431.0% in the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 125 shares during the last quarter. Roxbury Financial LLC bought a new position in American Tower in the 4th quarter valued at $32,000. Finally, Hobbs Group Advisors LLC boosted its position in American Tower by 51.0% in the 3rd quarter. Hobbs Group Advisors LLC now owns 222 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 75 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated 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 sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. JMP Securities began coverage on American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price objective on the stock. Scotiabank cut their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research note on Thursday, January 23rd. Citizens Jmp raised American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Mizuho cut their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company cut their price target on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.21.

American Tower Stock Performance

Shares of American Tower stock opened at $205.61 on Friday. The company has a market capitalization of $96.08 billion, a PE ratio of 86.76, a PEG ratio of 1.29 and a beta of 0.84. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock’s fifty day simple moving average is $187.09 and its 200 day simple moving average is $206.81.

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 (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $2.51 billion. During the same quarter last year, the business posted $2.29 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, research analysts predict that American Tower Co. will post 10.14 EPS for the current year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend 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.