Raab & Moskowitz Asset Management LLC Reduces Stake in American Tower Co. (NYSE:AMT)

Raab & Moskowitz Asset Management LLC decreased its stake in shares of American Tower Co. (NYSE:AMT) by 14.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,416 shares of the real estate investment trust’s stock after selling 245 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in American Tower were worth $306,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Jennison Associates LLC increased its stake in American Tower by 41.0% in the 4th quarter. Jennison Associates LLC now owns 5,299,306 shares of the real estate investment trust’s stock worth $1,144,014,000 after acquiring an additional 1,541,029 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of American Tower by 2,329.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 1,329,779 shares of the real estate investment trust’s stock valued at $218,682,000 after purchasing an additional 1,275,052 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of American Tower by 16,195.9% during the 4th quarter. International Assets Investment Management LLC now owns 849,340 shares of the real estate investment trust’s stock valued at $1,833,560,000 after purchasing an additional 844,128 shares during the last quarter. Wellington Management Group LLP increased its position in shares of American Tower by 5.6% during the 3rd quarter. Wellington Management Group LLP now owns 12,984,052 shares of the real estate investment trust’s stock valued at $2,135,227,000 after purchasing an additional 691,934 shares during the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of American Tower by 22.9% during the 3rd quarter. Clearbridge Investments LLC now owns 3,255,988 shares of the real estate investment trust’s stock valued at $535,447,000 after purchasing an additional 607,199 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Rodney M. Smith sold 11,510 shares of the firm’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 completion of the transaction, the chief financial officer now owns 62,969 shares in the company, valued at approximately $12,953,352.99. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Rodney M. Smith sold 11,510 shares of the firm’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 completion of the transaction, the chief financial officer now owns 62,969 shares in the company, valued at approximately $12,953,352.99. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Pamela D. A. Reeve sold 5,054 shares of the firm’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 value of $962,584.84. Following the completion of the transaction, the director now owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

American Tower Trading Down 0.7 %

NYSE AMT traded down $1.21 on Friday, hitting $171.69. The company’s stock had a trading volume of 1,701,397 shares, compared to its average volume of 2,597,943. American Tower Co. has a 52-week low of $154.58 and a 52-week high of $219.10. 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’s 50-day simple moving average is $190.29 and its 200 day simple moving average is $193.97. The firm has a market cap of $80.07 billion, a P/E ratio of 53.97, a PEG ratio of 1.37 and a beta of 0.67.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share 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 analysts’ expectations of $2.74 billion. During the same quarter last year, the business posted $2.34 EPS. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. Research analysts predict that American Tower Co. will post 9.94 EPS for the current fiscal year.

American Tower Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend was Thursday, April 11th. American Tower’s dividend payout ratio (DPR) is currently 203.77%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AMT shares. Mizuho started coverage on American Tower in a research report on Monday, April 8th. They set a “neutral” rating and a $205.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Barclays increased their price objective on American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Morgan Stanley increased their price objective on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Finally, BMO Capital Markets dropped their target price on American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $217.36.

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.