Phocas Financial Corp. Has $3.12 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Phocas Financial Corp. boosted its stake in shares of American Tower Co. (NYSE:AMT – Get Rating) by 2.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 14,705 shares of the real estate investment trust’s stock after buying an additional 311 shares during the period. Phocas Financial Corp.’s holdings in American Tower were worth $3,116,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of AMT. Roberts Wealth Advisors LLC bought a new stake in shares of American Tower during the fourth quarter worth $2,725,000. RB Capital Management LLC boosted its holdings in American Tower by 4.4% during the fourth quarter. RB Capital Management LLC now owns 8,076 shares of the real estate investment trust’s stock worth $1,711,000 after purchasing an additional 340 shares during the last quarter. American National Bank boosted its holdings in American Tower by 709.7% during the fourth quarter. American National Bank now owns 834 shares of the real estate investment trust’s stock worth $177,000 after purchasing an additional 731 shares during the last quarter. First Community Trust NA grew its position in American Tower by 174.8% in the fourth quarter. First Community Trust NA now owns 283 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 180 shares in the last quarter. Finally, Norway Savings Bank increased its stake in American Tower by 3.5% in the 4th quarter. Norway Savings Bank now owns 5,671 shares of the real estate investment trust’s stock valued at $1,201,000 after buying an additional 194 shares during the last quarter. Institutional investors own 89.65% of the company’s stock.

Insider Activity at American Tower

In other news, Director Samme L. Thompson sold 1,739 shares of the business’s stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $218.59, for a total value of $380,128.01. Following the completion of the transaction, the director now directly owns 22,099 shares in the company, valued at approximately $4,830,620.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other American Tower news, Director Raymond P. Dolan sold 1,619 shares of the firm’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $233.92, for a total value of $378,716.48. Following the sale, the director now owns 17,473 shares of the company’s stock, valued at approximately $4,087,284.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Samme L. Thompson sold 1,739 shares of American Tower stock in a transaction on Monday, February 6th. The shares were sold at an average price of $218.59, for a total value of $380,128.01. Following the completion of the transaction, the director now owns 22,099 shares in the company, valued at approximately $4,830,620.41. The disclosure for this sale can be found here. Insiders sold a total of 8,587 shares of company stock valued at $1,947,849 over the last quarter. 0.24% of the stock is owned by corporate insiders.

American Tower Stock Performance

NYSE:AMT traded down $3.70 during mid-day trading on Friday, hitting $201.35. 3,456,929 shares of the stock were exchanged, compared to its average volume of 2,081,971. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.54 and a current ratio of 0.54. The firm’s 50-day simple moving average is $212.26 and its 200 day simple moving average is $215.78. American Tower Co. has a fifty-two week low of $178.17 and a fifty-two week high of $282.47. The stock has a market capitalization of $93.76 billion, a price-to-earnings ratio of 52.44, a price-to-earnings-growth ratio of 2.11 and a beta of 0.56.

American Tower (NYSE:AMT – Get Rating) last posted its quarterly earnings data on Thursday, February 23rd. The real estate investment trust reported ($1.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.16 by ($3.63). The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.68 billion. American Tower had a net margin of 16.49% and a return on equity of 15.80%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.18 EPS. As a group, equities analysts anticipate that American Tower Co. will post 9.24 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, April 14th will be given a $1.56 dividend. This represents a $6.24 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Thursday, April 13th. American Tower’s payout ratio is currently 162.50%.

Analysts Set New Price Targets

AMT has been the topic of a number of recent research reports. Truist Financial lowered their target price on American Tower from $325.00 to $275.00 and set a “buy” rating on the stock in a research report on Friday, January 13th. UBS Group dropped their price objective on American Tower from $278.00 to $270.00 in a research note on Tuesday, December 13th. Royal Bank of Canada decreased their target price on shares of American Tower from $240.00 to $230.00 and set an “outperform” rating for the company in a research note on Monday, March 6th. StockNews.com began coverage on shares of American Tower in a report on Thursday. They set a “hold” rating on the stock. Finally, Raymond James cut their price target on shares of American Tower from $233.00 to $227.00 and set an “outperform” rating for the company in a research note on Friday, February 24th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $260.31.

About American Tower

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American Tower Corp. provides real estate investment services, and owns, operates, and develops multi-tenant real estate properties. It offers leasing of space on communications sites to wireless service providers, radio and television broadcast companies. It operates through the following segments: U.S.