Grandfield & Dodd LLC Sells 128 Shares of American Tower Co. (NYSE:AMT)

Grandfield & Dodd LLC reduced its holdings in American Tower Co. (NYSE:AMT) by 6.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,831 shares of the real estate investment trust’s stock after selling 128 shares during the period. Grandfield & Dodd LLC’s holdings in American Tower were worth $395,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Gateway Investment Advisers LLC increased its position in American Tower by 57.7% during the fourth quarter. Gateway Investment Advisers LLC now owns 35,751 shares of the real estate investment trust’s stock worth $7,718,000 after acquiring an additional 13,074 shares during the period. Victory Capital Management Inc. increased its holdings in shares of American Tower by 0.5% during the 3rd quarter. Victory Capital Management Inc. now owns 177,288 shares of the real estate investment trust’s stock worth $29,155,000 after purchasing an additional 806 shares during the period. PDS Planning Inc raised 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 valued at $299,000 after buying an additional 253 shares during the last quarter. FAS Wealth Partners Inc. bought a new stake in shares of American Tower in the fourth quarter valued at about $2,001,000. Finally, DNB Asset Management AS grew its position in American Tower by 23.0% during the fourth quarter. DNB Asset Management AS now owns 159,805 shares of the real estate investment trust’s stock worth $34,499,000 after buying an additional 29,848 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Price Performance

NYSE:AMT opened at $171.30 on Friday. 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 market cap of $79.89 billion, a PE ratio of 53.87, a price-to-earnings-growth ratio of 1.35 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. The company’s 50-day moving average price is $191.91 and its two-hundred day moving average price is $193.74.

American Tower (NYSE:AMT) last announced its 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). American Tower had a return on equity of 12.80% and a net margin of 13.31%. The business 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 firm earned $2.34 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. On average, equities analysts anticipate that American Tower Co. will post 9.94 EPS for the current fiscal year.

American Tower Cuts Dividend

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

Insider Buying and Selling

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 other news, Director Pamela D. A. Reeve sold 5,054 shares of the company’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 transaction, the director now directly owns 18,545 shares in the company, valued at $3,532,080.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rodney M. Smith sold 11,510 shares of the firm’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 completion of the sale, 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. 0.24% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AMT shares. Mizuho started coverage on American Tower in a report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price target for the company. BMO Capital Markets reduced their target price on American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. JPMorgan Chase & Co. lowered their price target on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Barclays increased their price objective on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Finally, Morgan Stanley lifted 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 report on Monday, April 15th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and a consensus price target 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.