John G Ullman & Associates Inc. Sells 3,591 Shares of American Tower Co. (NYSE:AMT)

John G Ullman & Associates Inc. decreased its holdings in shares of American Tower Co. (NYSE:AMT) by 7.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,280 shares of the real estate investment trust’s stock after selling 3,591 shares during the period. American Tower comprises approximately 1.2% of John G Ullman & Associates Inc.’s holdings, making the stock its 18th largest position. John G Ullman & Associates Inc.’s holdings in American Tower were worth $8,488,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Hara Capital LLC bought a new position in American Tower in the 3rd quarter worth $31,000. Roxbury Financial LLC bought a new position in American Tower in the 4th quarter worth $32,000. Legacy Investment Solutions LLC bought a new position in American Tower in the 3rd quarter worth $34,000. Activest Wealth Management boosted 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 worth $36,000 after buying an additional 125 shares during the period. Finally, Bank of Jackson Hole Trust bought a new position in American Tower in the 4th quarter worth $46,000. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 0.8 %

Shares of NYSE AMT opened at $205.61 on Friday. The firm’s 50-day moving average price is $187.09 and its 200-day moving average price is $206.69. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a market capitalization of $96.08 billion, a price-to-earnings ratio of 86.76, a P/E/G ratio of 1.29 and a beta of 0.84. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.83. The firm had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.29 EPS. On average, equities research analysts anticipate that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio (DPR) is currently 134.72%.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 16,567 shares of the 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 sale, 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 document filed with the SEC, which is available through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on AMT shares. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Barclays dropped their target price on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Scotiabank dropped their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. The Goldman Sachs Group dropped their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Finally, Morgan Stanley dropped their price objective on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. 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’s stock. According to data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and an average price target 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.