Channing Global Advisors LLC Has $2.23 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Channing Global Advisors LLC lifted its stake in shares of American Tower Co. (NYSE:AMT) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,324 shares of the real estate investment trust’s stock after purchasing an additional 139 shares during the period. American Tower makes up about 1.7% of Channing Global Advisors LLC’s holdings, making the stock its 18th biggest position. Channing Global Advisors LLC’s holdings in American Tower were worth $2,229,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. McClarren Financial Advisors Inc. purchased a new position in shares of American Tower during the third quarter valued at $27,000. Emerald Advisers LLC purchased a new position in shares of American Tower during the third quarter valued at $29,000. Thompson Investment Management Inc. purchased a new position in shares of American Tower during the fourth quarter valued at $29,000. Brown Shipley& Co Ltd purchased a new position in shares of American Tower during the third quarter valued at $35,000. Finally, Valley National Advisers Inc. grew its holdings in shares of American Tower by 200.0% during the fourth quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 118 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Stock Performance

American Tower stock traded down $0.21 during trading hours on Friday, hitting $172.69. The stock had a trading volume of 496,931 shares, compared to its average volume of 2,407,378. The company has a 50-day moving average of $190.60 and a two-hundred day moving average of $193.90. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. The company has a market cap of $80.53 billion, a PE ratio of 54.39, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $219.10.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.74 billion. American Tower had a return on equity of 12.80% and a net margin of 13.31%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company earned $2.34 earnings per share. On average, equities research analysts anticipate that American Tower Co. will post 9.94 EPS for the current fiscal year.

American Tower Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Thursday, April 11th. American Tower’s payout ratio is presently 203.77%.

Insider Buying and Selling

In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the sale, the director now owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total transaction of $962,584.84. Following the completion of the sale, the director now owns 18,545 shares in the company, valued at $3,532,080.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was 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 owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Morgan Stanley lifted their price target on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Mizuho assumed coverage on American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price on the stock. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. BMO Capital Markets lowered their target price on American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Finally, Barclays upped their price target on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $217.36.

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.