Consolidated Portfolio Review Corp Sells 106 Shares of American Tower Co. (NYSE:AMT)

Consolidated Portfolio Review Corp decreased its holdings in American Tower Co. (NYSE:AMT) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,307 shares of the real estate investment trust’s stock after selling 106 shares during the period. Consolidated Portfolio Review Corp’s holdings in American Tower were worth $714,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. McClarren Financial Advisors Inc. bought a new stake in shares of American Tower in the 3rd quarter worth $27,000. Emerald Advisers LLC bought a new stake in shares of American Tower in the 3rd quarter worth $29,000. Thompson Investment Management Inc. bought a new stake in shares of American Tower in the 4th quarter worth $29,000. Pinnacle Holdings LLC bought a new stake in shares of American Tower in the 1st quarter worth $29,000. Finally, Eagle Bay Advisors LLC bought a new stake in shares of American Tower in the second quarter worth $30,000. Institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their price objective on American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Barclays lifted their target price on American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Mizuho assumed coverage on American Tower in a research report on Monday, April 8th. They set a “neutral” rating and a $205.00 target price on the stock. BMO Capital Markets lowered their target price on American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Finally, StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $214.91.

Insiders Place Their Bets

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

American Tower Price Performance

Shares of NYSE:AMT traded up $0.56 during mid-day trading on Friday, reaching $179.20. The stock had a trading volume of 3,839,228 shares, compared to its average volume of 2,317,435. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.29. The company has a market cap of $83.57 billion, a P/E ratio of 56.35, a price-to-earnings-growth ratio of 1.24 and a beta of 0.67. American Tower Co. has a 1 year low of $154.58 and a 1 year high of $219.10. The business’s 50 day moving average price is $193.88 and its 200 day moving average price is $193.33.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.74 billion. American Tower had a return on equity of 12.80% and a net margin of 13.31%. American Tower’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.34 earnings per share. Research analysts expect that American Tower Co. will post 10.05 EPS for the current fiscal year.

American Tower Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be given a $1.62 dividend. The ex-dividend date is Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.62%. American Tower’s dividend payout ratio is currently 203.77%.

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.