Vanderbilt University Trims Stake in American Tower Co. (NYSE:AMT)

Vanderbilt University cut its position in American Tower Co. (NYSE:AMTFree Report) by 23.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,143 shares of the real estate investment trust’s stock after selling 2,134 shares during the period. American Tower comprises 0.4% of Vanderbilt University’s portfolio, making the stock its 21st largest holding. Vanderbilt University’s holdings in American Tower were worth $1,542,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Personal Capital Advisors Corp raised its holdings in shares of American Tower by 1.7% in the 1st quarter. Personal Capital Advisors Corp now owns 2,510 shares of the real estate investment trust’s stock valued at $631,000 after purchasing an additional 43 shares in the last quarter. Lumature Wealth Partners LLC raised its position in American Tower by 40.3% during the first quarter. Lumature Wealth Partners LLC now owns 174 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 50 shares during the period. McIlrath & Eck LLC raised its position in shares of American Tower by 18.5% in the fourth quarter. McIlrath & Eck LLC now owns 333 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 52 shares during the last quarter. Golden State Equity Partners grew its holdings in shares of American Tower by 7.0% in the first quarter. Golden State Equity Partners now owns 806 shares of the real estate investment trust’s stock valued at $202,000 after purchasing an additional 53 shares during the period. Finally, GeoWealth Management LLC grew its holdings in shares of American Tower by 17.8% in the first quarter. GeoWealth Management LLC now owns 358 shares of the real estate investment trust’s stock valued at $73,000 after purchasing an additional 54 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMT has been the subject of several research analyst reports. BMO Capital Markets lowered their target price on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. JPMorgan Chase & Co. lowered their target price on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Barclays lifted their price objective on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. HSBC began coverage on American Tower in a research note on Thursday, December 14th. They set a “buy” rating and a $245.00 price target for the company. Finally, StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $215.90.

View Our Latest Research Report on AMT

American Tower Stock Down 0.6 %

Shares of AMT traded down $1.07 during midday trading on Wednesday, reaching $191.11. 642,441 shares of the stock were exchanged, compared to its average volume of 2,307,586. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. The firm has a 50 day simple moving average of $195.53 and a 200-day simple moving average of $192.61. The company has a market cap of $89.12 billion, a price-to-earnings ratio of 60.43, a P/E/G ratio of 1.34 and a beta of 0.67. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $219.10.

American Tower (NYSE:AMTGet Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing the consensus estimate of $2.10 by ($1.16). The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.74 billion. American Tower had a return on equity of 12.80% and a net margin of 13.31%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.34 earnings per share. Research analysts forecast that American Tower Co. will post 10.08 EPS for the current year.

American Tower Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend is Thursday, April 11th. American Tower’s dividend payout ratio is 213.84%.

Insiders Place Their Bets

In related news, Director Pamela D. A. Reeve sold 5,054 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the sale, the director now owns 18,545 shares in the company, valued at $3,532,080.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the completion of the transaction, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the sale, the director now directly owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

About American Tower

(Free Report)

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.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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