PDS Planning Inc Has $363,000 Holdings in American Tower Co. (NYSE:AMT)

PDS Planning Inc cut its holdings in American Tower Co. (NYSE:AMT) by 7.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,683 shares of the real estate investment trust’s stock after selling 138 shares during the period. PDS Planning Inc’s holdings in American Tower were worth $363,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. McClarren Financial Advisors Inc. acquired a new stake in American Tower during the third quarter worth about $27,000. Emerald Advisers LLC acquired a new stake in American Tower during the third quarter worth about $29,000. Thompson Investment Management Inc. acquired a new stake in American Tower during the fourth quarter worth about $29,000. Brown Shipley& Co Ltd acquired a new stake in American Tower during the third quarter worth about $35,000. Finally, Valley National Advisers Inc. grew its stake in American Tower by 200.0% during the fourth quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 118 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AMT. BMO Capital Markets reduced their price objective on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Mizuho initiated 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. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. JPMorgan Chase & Co. dropped their target price on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Finally, Barclays increased their target price on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $217.36.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the sale, the chief financial officer now owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total transaction of $962,584.84. Following the sale, the director now directly owns 18,545 shares in the company, valued at approximately $3,532,080.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

American Tower Trading Up 1.6 %

NYSE AMT traded up $2.69 during trading hours on Tuesday, reaching $174.99. The company’s stock had a trading volume of 876,724 shares, compared to its average volume of 2,407,965. The firm has a fifty day simple moving average of $191.52 and a 200-day simple moving average of $194.09. The stock has a market cap of $81.61 billion, a P/E ratio of 54.19, a P/E/G ratio of 1.35 and a beta of 0.67. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $219.10. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick ratio of 0.69.

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

American Tower Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.70%. The ex-dividend date is Thursday, April 11th. American Tower’s payout ratio is currently 203.77%.

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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.