Cornell Pochily Investment Advisors Inc. Buys 311 Shares of American Tower Co. (NYSE:AMT)

Cornell Pochily Investment Advisors Inc. raised its stake in American Tower Co. (NYSE:AMT) by 7.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,663 shares of the real estate investment trust’s stock after purchasing an additional 311 shares during the period. Cornell Pochily Investment Advisors Inc.’s holdings in American Tower were worth $855,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Fortitude Family Office LLC increased its position in 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 valued at $25,000 after buying an additional 78 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in American Tower in the third quarter valued at approximately $30,000. Hara Capital LLC acquired a new position in shares of American Tower during the third quarter worth approximately $31,000. Legacy Investment Solutions LLC bought a new position in shares of American Tower in the 3rd quarter worth $34,000. Finally, Activest Wealth Management grew 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 purchasing an additional 125 shares during the period. 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 stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $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 is available at the SEC website. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AMT shares. The Goldman Sachs Group lowered their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Wells Fargo & Company lowered their target price on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday. Barclays cut their price target on American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Scotiabank lowered their price objective on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research note on Thursday. Finally, JMP Securities started coverage on American Tower in a research report on Monday. They set an “outperform” rating and a $225.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $226.31.

American Tower Trading Down 0.7 %

Shares of American Tower stock opened at $185.17 on Monday. The firm has a market cap of $86.53 billion, a PE ratio of 78.13, a P/E/G ratio of 1.24 and a beta of 0.84. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a fifty day moving average price of $192.08 and a 200-day moving average price of $211.24.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the prior year, the firm posted $2.58 EPS. The business’s revenue was down 10.5% on a year-over-year basis. Equities research analysts anticipate that American Tower Co. will post 10.15 EPS for the current year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is 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.