Prudent Man Advisors LLC Sells 1,017 Shares of American Tower Co. (NYSE:AMT)

Prudent Man Advisors LLC decreased its position in shares of American Tower Co. (NYSE:AMT) by 20.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,920 shares of the real estate investment trust’s stock after selling 1,017 shares during the period. Prudent Man Advisors LLC’s holdings in American Tower were worth $719,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AMT. Hara Capital LLC bought a new position in shares of American Tower during the 3rd quarter valued at $31,000. Roxbury Financial LLC purchased a new stake in American Tower during the 4th quarter valued at about $32,000. Legacy Investment Solutions LLC bought a new position in American Tower during the 3rd quarter worth approximately $34,000. Activest Wealth Management increased its stake 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 worth $36,000 after purchasing an additional 125 shares during the period. Finally, Bank of Jackson Hole Trust bought a new stake in American Tower in the fourth quarter valued at approximately $46,000. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In other news, CFO Rodney M. Smith sold 16,567 shares of the 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is currently owned by corporate insiders.

American Tower Stock Performance

Shares of American Tower stock opened at $205.61 on Friday. The firm’s 50-day moving average is $187.09 and its 200 day moving average is $206.81. 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 market cap of $96.08 billion, a price-to-earnings ratio of 86.76, a PEG ratio of 1.29 and a beta of 0.84.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter in the previous year, the business earned $2.29 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. Sell-side analysts anticipate that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were given a dividend of $1.62 per share. The ex-dividend date was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.15%. American Tower’s dividend payout ratio (DPR) is 273.42%.

Wall Street Analyst Weigh In

Several brokerages recently commented on AMT. Scotiabank decreased their target price on shares of 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. JMP Securities began coverage on shares of American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 target price for the company. Morgan Stanley cut their target price on American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. Mizuho lowered their price target 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. Finally, Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $225.21.

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.