Pittenger & Anderson Inc. Sells 1,575 Shares of American Tower Co. (NYSE:AMT)

Pittenger & Anderson Inc. decreased its position in American Tower Co. (NYSE:AMT) by 1.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 87,052 shares of the real estate investment trust’s stock after selling 1,575 shares during the period. Pittenger & Anderson Inc.’s holdings in American Tower were worth $18,793,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Gateway Investment Advisers LLC increased its position in shares of 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 worth $7,718,000 after purchasing an additional 13,074 shares during the last quarter. Victory Capital Management Inc. increased its position 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 last quarter. PDS Planning Inc increased its position in shares of American Tower by 16.1% during the 3rd quarter. PDS Planning Inc now owns 1,821 shares of the real estate investment trust’s stock worth $299,000 after purchasing an additional 253 shares during the last quarter. FAS Wealth Partners Inc. acquired a new position in shares of American Tower during the 4th quarter worth approximately $2,001,000. Finally, DNB Asset Management AS increased its position in shares of American Tower by 23.0% during the 4th quarter. DNB Asset Management AS now owns 159,805 shares of the real estate investment trust’s stock worth $34,499,000 after purchasing an additional 29,848 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Activity

In related news, CFO Rodney M. Smith sold 11,510 shares of the company’s stock in a transaction 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 sale, the chief financial officer now directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Rodney M. Smith sold 11,510 shares of the company’s stock in a transaction 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 sale, the chief financial officer now directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Pamela D. A. Reeve sold 5,054 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the sale, the director now owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Barclays boosted their target price on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. BMO Capital Markets decreased their target price on American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Finally, Morgan Stanley boosted their target price on American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.36.

American Tower Price Performance

Shares of NYSE:AMT traded down $0.36 during trading on Friday, reaching $172.54. 753,431 shares of the company traded hands, compared to its average volume of 2,410,108. The company’s 50 day moving average is $190.60 and its two-hundred day moving average is $193.90. The firm has a market capitalization of $80.46 billion, a PE ratio of 54.39, a PEG ratio of 1.37 and a beta of 0.67. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $219.10.

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

American Tower Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be given a dividend of $1.62 per share. The ex-dividend date is Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.76%. American Tower’s payout ratio is 203.77%.

About American Tower

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.