American Tower Co. (NYSE:AMT) Shares Sold by Davidson Trust Co.

Davidson Trust Co. cut its stake in American Tower Co. (NYSE:AMT) by 45.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 948 shares of the real estate investment trust’s stock after selling 779 shares during the period. Davidson Trust Co.’s holdings in American Tower were worth $205,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Gateway Investment Advisers LLC grew its holdings in American Tower by 57.7% during the 4th quarter. Gateway Investment Advisers LLC now owns 35,751 shares of the real estate investment trust’s stock valued at $7,718,000 after purchasing an additional 13,074 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of American Tower by 0.5% during the third quarter. Victory Capital Management Inc. now owns 177,288 shares of the real estate investment trust’s stock valued at $29,155,000 after acquiring an additional 806 shares in the last quarter. PDS Planning Inc increased its position in shares of American Tower by 16.1% during the third quarter. PDS Planning Inc now owns 1,821 shares of the real estate investment trust’s stock worth $299,000 after acquiring an additional 253 shares during the last quarter. FAS Wealth Partners Inc. acquired a new position in shares of American Tower in the fourth quarter worth about $2,001,000. Finally, DNB Asset Management AS boosted its holdings in American Tower by 23.0% in the fourth quarter. DNB Asset Management AS now owns 159,805 shares of the real estate investment trust’s stock valued at $34,499,000 after purchasing an additional 29,848 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Transactions at American Tower

In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction dated 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 owns 18,545 shares in the company, valued at approximately $3,532,080.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Pamela D. A. Reeve sold 5,054 shares of the firm’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 transaction, the director now owns 18,545 shares in the company, valued at $3,532,080.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

American Tower Stock Performance

AMT stock traded up $0.23 during midday trading on Friday, hitting $171.23. The stock had a trading volume of 1,039,479 shares, compared to its average volume of 2,401,154. The firm has a market capitalization of $79.85 billion, a price-to-earnings ratio of 53.77, a P/E/G ratio of 1.36 and a beta of 0.67. 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 stock has a 50-day simple moving average of $192.37 and a 200 day simple moving average of $193.43. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $219.10.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). American Tower had a return on equity of 12.80% and a net margin of 13.31%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.74 billion. During the same period in the previous year, the company posted $2.34 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, equities research analysts anticipate that American Tower Co. will post 9.94 earnings per share for the current year.

American Tower Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Thursday, April 11th. American Tower’s dividend payout ratio is currently 203.77%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Mizuho started coverage on shares of American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 price target for the company. BMO Capital Markets reduced their price objective on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. JPMorgan Chase & Co. decreased their price objective on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Finally, Morgan Stanley upped their target price 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. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and a consensus target price of $217.36.

American Tower 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.