Crews Bank & Trust Takes Position in American Tower Co. (NYSE:AMT)

Crews Bank & Trust purchased a new position in shares of American Tower Co. (NYSE:AMT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,059 shares of the real estate investment trust’s stock, valued at approximately $1,478,000.

Other large investors also recently bought and sold shares of the company. Fortitude Family Office LLC lifted its stake 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 shares of American Tower in the third quarter worth approximately $30,000. Hara Capital LLC purchased a new stake in shares of American Tower during the third quarter worth approximately $31,000. Legacy Investment Solutions LLC acquired a new position in American Tower in the 3rd quarter valued at $34,000. Finally, Activest Wealth Management lifted its holdings 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 in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMT has been the topic of several analyst reports. The Goldman Sachs Group decreased their price target on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. BMO Capital Markets lowered their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Wells Fargo & Company cut their price objective on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Finally, Mizuho dropped their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $226.23.

American Tower Stock Performance

Shares of AMT stock opened at $186.13 on Thursday. The stock has a 50 day simple moving average of $191.66 and a 200-day simple moving average of $210.97. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The company has a market cap of $86.98 billion, a price-to-earnings ratio of 78.54, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last issued 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 company had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period last year, the business posted $2.58 earnings per share. On average, equities analysts forecast that American Tower Co. will post 10.15 EPS for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.48%. The ex-dividend date is Friday, December 27th. American Tower’s payout ratio is 273.42%.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm’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 transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.18% of the stock is owned by insiders.

About American Tower

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.