Oakworth Capital Inc. Acquires 120 Shares of American Tower Co. (NYSE:AMT)

Oakworth Capital Inc. grew its position in American Tower Co. (NYSE:AMT) by 157.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 196 shares of the real estate investment trust’s stock after acquiring an additional 120 shares during the period. Oakworth Capital Inc.’s holdings in American Tower were worth $42,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Personal Capital Advisors Corp raised its position in 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 worth $631,000 after purchasing an additional 43 shares during the last quarter. Lumature Wealth Partners LLC lifted its position in American Tower by 40.3% during the 1st quarter. Lumature Wealth Partners LLC now owns 174 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 50 shares in the last quarter. Alera Investment Advisors LLC lifted its position in American Tower by 1.3% during the 4th quarter. Alera Investment Advisors LLC now owns 4,105 shares of the real estate investment trust’s stock worth $886,000 after buying an additional 51 shares in the last quarter. McIlrath & Eck LLC lifted its position in American Tower by 18.5% during the 4th quarter. McIlrath & Eck LLC now owns 333 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 52 shares in the last quarter. Finally, Golden State Equity Partners raised its holdings in shares of American Tower by 7.0% in the 1st 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. Institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on AMT shares. Morgan Stanley upped their price target on shares of American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research note on Monday. JPMorgan Chase & Co. reduced their price target 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. BMO Capital Markets reduced their price target on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, Mizuho started coverage on shares of American Tower in a research report on Monday, April 8th. They set a “neutral” rating and a $205.00 price target on the stock. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $217.36.

Insider Activity

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

American Tower Stock Performance

Shares of AMT stock opened at $172.02 on Thursday. The firm’s 50-day simple moving average is $192.83 and its two-hundred day simple moving average is $193.58. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $219.10. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market cap of $80.22 billion, a price-to-earnings ratio of 54.09, a P/E/G ratio of 1.42 and a beta of 0.67.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($1.16). American Tower had a net margin of 13.31% and a return on equity of 12.80%. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same period last year, the firm earned $2.34 EPS. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities analysts forecast that American Tower Co. will post 10.06 earnings per share for the current year.

American Tower Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend is Thursday, April 11th. American Tower’s dividend payout ratio (DPR) 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.