Ingalls & Snyder LLC Sells 130 Shares of American Tower Corp (NYSE:AMT)

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Ingalls & Snyder LLC reduced its stake in American Tower Corp (NYSE:AMT) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,862 shares of the real estate investment trust’s stock after selling 130 shares during the period. Ingalls & Snyder LLC’s holdings in American Tower were worth $2,037,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. IHT Wealth Management LLC grew its stake in shares of American Tower by 1.6% in the 3rd quarter. IHT Wealth Management LLC now owns 3,012 shares of the real estate investment trust’s stock worth $666,000 after buying an additional 48 shares in the last quarter. Biegel & Waller LLC grew its stake in shares of American Tower by 2.9% in the 3rd quarter. Biegel & Waller LLC now owns 1,718 shares of the real estate investment trust’s stock worth $380,000 after buying an additional 49 shares in the last quarter. BKD Wealth Advisors LLC grew its stake in shares of American Tower by 1.8% in the 3rd quarter. BKD Wealth Advisors LLC now owns 2,747 shares of the real estate investment trust’s stock worth $607,000 after buying an additional 49 shares in the last quarter. FinTrust Capital Advisors LLC grew its stake in shares of American Tower by 7.4% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 729 shares of the real estate investment trust’s stock worth $161,000 after buying an additional 50 shares in the last quarter. Finally, Accurate Investment Solutions Inc. grew its stake in shares of American Tower by 21.2% in the 4th quarter. Accurate Investment Solutions Inc. now owns 292 shares of the real estate investment trust’s stock worth $67,000 after buying an additional 51 shares in the last quarter. Institutional investors own 91.63% of the company’s stock.

A number of equities analysts have commented on the stock. KeyCorp lifted their price objective on shares of American Tower from $242.00 to $254.00 and gave the stock an “overweight” rating in a research note on Friday, January 10th. Goldman Sachs Group raised shares of American Tower from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $204.00 to $270.00 in a research note on Monday. ValuEngine cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Morgan Stanley reaffirmed a “hold” rating and set a $218.00 price target (up from $216.00) on shares of American Tower in a research note on Friday, November 22nd. Finally, Cowen lifted their price target on shares of American Tower from $238.00 to $260.00 and gave the stock an “in-line” rating in a research note on Friday, November 1st. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $224.36.

AMT stock opened at $235.38 on Thursday. American Tower Corp has a 12 month low of $162.83 and a 12 month high of $242.00. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 4.40. The company has a 50-day moving average price of $221.85 and a 200 day moving average price of $218.83. The stock has a market cap of $103.63 billion, a PE ratio of 29.46, a P/E/G ratio of 1.51 and a beta of 0.41.

American Tower (NYSE:AMT) last released its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.17. American Tower had a net margin of 20.58% and a return on equity of 27.12%. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the previous year, the company earned $1.85 EPS. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. Sell-side analysts forecast that American Tower Corp will post 7.64 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Friday, December 27th were paid a dividend of $1.01 per share. The ex-dividend date of this dividend was Thursday, December 26th. This is a boost from American Tower’s previous quarterly dividend of $0.95. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.72%. American Tower’s payout ratio is currently 50.56%.

In other American Tower news, EVP Olivier Puech sold 313 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $228.56, for a total value of $71,539.28. Following the completion of the sale, the executive vice president now directly owns 18,723 shares of the company’s stock, valued at approximately $4,279,328.88. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Samme L. Thompson sold 3,000 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $227.56, for a total transaction of $682,680.00. Following the completion of the sale, the director now directly owns 22,598 shares of the company’s stock, valued at $5,142,400.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,574 shares of company stock valued at $1,250,626. 0.75% of the stock is owned by corporate insiders.

American Tower Company 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 approximately 171,000 communications sites.

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Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corp (NYSE:AMT).

Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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