UMB Bank n.a. Decreases Stock Position in American Tower Co. (NYSE:AMT)

UMB Bank n.a. decreased its position in shares of American Tower Co. (NYSE:AMT) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,880 shares of the real estate investment trust’s stock after selling 208 shares during the period. UMB Bank n.a.’s holdings in American Tower were worth $1,445,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Fortitude Family Office LLC grew its stake in shares of American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 78 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in American Tower in the third quarter worth about $30,000. Hara Capital LLC bought a new stake in American Tower during the third quarter worth approximately $31,000. Legacy Investment Solutions LLC purchased a new stake in American Tower during the third quarter valued at approximately $34,000. Finally, Activest Wealth Management lifted its stake in shares of 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 purchasing an additional 125 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Insider Transactions at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. The trade was 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. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AMT. BMO Capital Markets reduced their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Scotiabank dropped their target price on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 30th. Mizuho decreased their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. The Goldman Sachs Group cut their price objective on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Finally, Barclays lowered their target price on shares of American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $230.67.

American Tower Stock Down 0.2 %

AMT opened at $189.94 on Wednesday. The company has a market cap of $88.76 billion, a PE ratio of 80.14, a price-to-earnings-growth ratio of 1.28 and a beta of 0.84. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a 50-day moving average price of $192.75 and a 200 day moving average price of $211.51. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.58 EPS. Sell-side analysts expect that American Tower Co. will post 10.15 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

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.