Benjamin Edwards Inc. Decreases Holdings in American Tower Co. (NYSE:AMT)

Benjamin Edwards Inc. trimmed its position in American Tower Co. (NYSE:AMT) by 1.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,928 shares of the real estate investment trust’s stock after selling 95 shares during the period. Benjamin Edwards Inc.’s holdings in American Tower were worth $1,064,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Alera Investment Advisors LLC lifted its position in shares of American Tower by 1.3% in the 4th quarter. Alera Investment Advisors LLC now owns 4,105 shares of the real estate investment trust’s stock worth $886,000 after purchasing an additional 51 shares during the period. First Business Financial Services Inc. grew its holdings in shares of American Tower by 1.3% during the 3rd quarter. First Business Financial Services Inc. now owns 4,290 shares of the real estate investment trust’s stock worth $705,000 after acquiring an additional 55 shares during the period. Northcape Wealth Management LLC raised its position in shares of American Tower by 0.5% in the 3rd quarter. Northcape Wealth Management LLC now owns 10,521 shares of the real estate investment trust’s stock worth $1,730,000 after acquiring an additional 56 shares in the last quarter. Augustine Asset Management Inc. lifted its stake in shares of American Tower by 0.8% in the 4th quarter. Augustine Asset Management Inc. now owns 7,092 shares of the real estate investment trust’s stock valued at $1,531,000 after purchasing an additional 56 shares during the period. Finally, McIlrath & Eck LLC boosted its position in shares of American Tower by 13.9% during the fourth quarter. McIlrath & Eck LLC now owns 459 shares of the real estate investment trust’s stock valued at $99,000 after purchasing an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

Shares of American Tower stock traded up $2.12 during mid-day trading on Friday, reaching $181.76. 3,130,325 shares of the stock traded hands, compared to its average volume of 2,469,077. The company has a quick ratio of 0.69, a current ratio of 0.85 and a debt-to-equity ratio of 3.39. The business has a 50-day moving average of $189.32 and a 200 day moving average of $194.30. The stock has a market capitalization of $84.76 billion, a PE ratio of 41.12, a PEG ratio of 1.40 and a beta of 0.71. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $219.10.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). American Tower had a net margin of 18.42% and a return on equity of 18.45%. The firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter in the previous year, the business posted $2.54 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, analysts predict that American Tower Co. will post 9.94 EPS for the current 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. The ex-dividend date was Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a yield of 3.57%. American Tower’s payout ratio is 146.61%.

Insider Transactions at American Tower

In other American Tower news, 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 completion of the sale, the director now directly owns 18,545 shares in the company, valued at approximately $3,532,080.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction 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 sale, the chief financial officer now owns 62,969 shares in the company, valued at $12,953,352.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the director now directly owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AMT shares. BMO Capital Markets decreased their price objective on American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday. Morgan Stanley upped 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. Scotiabank reduced their price objective on American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a research report on Wednesday. Mizuho started coverage on shares of American Tower in a report on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price for the company. Finally, JPMorgan Chase & Co. cut their target price on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $221.91.

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.