Foster & Motley Inc. Sells 3,418 Shares of American Tower Co. (NYSE:AMT)

Foster & Motley Inc. decreased its holdings in American Tower Co. (NYSE:AMT) by 62.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,040 shares of the real estate investment trust’s stock after selling 3,418 shares during the quarter. Foster & Motley Inc.’s holdings in American Tower were worth $440,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Gateway Investment Advisers LLC grew its position in American Tower by 57.7% during the fourth quarter. Gateway Investment Advisers LLC now owns 35,751 shares of the real estate investment trust’s stock worth $7,718,000 after buying an additional 13,074 shares in the last quarter. Victory Capital Management Inc. raised its stake in American Tower by 0.5% in the third quarter. Victory Capital Management Inc. now owns 177,288 shares of the real estate investment trust’s stock valued at $29,155,000 after purchasing an additional 806 shares in the last quarter. PDS Planning Inc lifted its position in American Tower by 16.1% during the third quarter. PDS Planning Inc now owns 1,821 shares of the real estate investment trust’s stock worth $299,000 after purchasing an additional 253 shares during the period. FAS Wealth Partners Inc. acquired a new stake in American Tower during the fourth quarter worth about $2,001,000. Finally, DNB Asset Management AS increased its holdings in American Tower by 23.0% in the 4th quarter. DNB Asset Management AS now owns 159,805 shares of the real estate investment trust’s stock valued at $34,499,000 after buying an additional 29,848 shares during the period. Institutional investors own 92.69% of the company’s stock.

American Tower Trading Down 0.5 %

Shares of AMT stock opened at $173.35 on Thursday. American Tower Co. has a 1-year low of $154.58 and a 1-year 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 stock has a market cap of $80.84 billion, a price-to-earnings ratio of 54.51, a PEG ratio of 1.38 and a beta of 0.67. The stock has a 50-day moving average of $190.93 and a 200-day moving average of $194.05.

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). American Tower had a return on equity of 12.80% and a net margin of 13.31%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the previous year, the business posted $2.34 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities research analysts forecast that American Tower Co. will post 9.94 earnings per share for the current year.

American Tower Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be given a dividend of $1.62 per share. The ex-dividend date is Thursday, April 11th. This represents a $6.48 annualized dividend and a dividend yield of 3.74%. American Tower’s payout ratio is 203.77%.

Insider Activity at American Tower

In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Rodney M. Smith sold 11,510 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the transaction, the chief financial officer now owns 62,969 shares in the company, valued at $12,953,352.99. The sale 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 company’s stock in a transaction that occurred 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 transaction, the director now directly owns 18,545 shares in the company, valued at $3,532,080.70. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Barclays upped their price target 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. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. lowered their price target on American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. BMO Capital Markets decreased their target price on American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Finally, Mizuho initiated coverage on American Tower in a research note on Monday, April 8th. They set a “neutral” rating and a $205.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.36.

American Tower 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.