Anfield Capital Management LLC Sells 4,445 Shares of American Tower Co. (NYSE:AMT)

Anfield Capital Management LLC trimmed its position in American Tower Co. (NYSE:AMT) by 44.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,596 shares of the real estate investment trust’s stock after selling 4,445 shares during the quarter. Anfield Capital Management LLC’s holdings in American Tower were worth $1,208,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in AMT. McClarren Financial Advisors Inc. bought a new position in American Tower in the third quarter valued at approximately $27,000. Emerald Advisers LLC bought a new stake in shares of American Tower during the third quarter worth $29,000. Thompson Investment Management Inc. bought a new stake in shares of American Tower during the fourth quarter worth $29,000. Brown Shipley& Co Ltd bought a new stake in shares of American Tower during the third quarter worth $35,000. Finally, Valley National Advisers Inc. grew its stake in shares of 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 during the last quarter. 92.69% of the stock is owned by institutional investors.

American Tower Price Performance

AMT stock opened at $171.63 on Friday. The firm has a market cap of $80.04 billion, a price-to-earnings ratio of 53.97, a PEG ratio of 1.37 and a beta of 0.67. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $219.10. The company’s fifty day simple moving average is $190.29 and its 200 day simple moving average is $193.97.

American Tower (NYSE:AMT) last released its 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 net margin of 13.31% and a return on equity of 12.80%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.74 billion. During the same quarter in the previous year, the firm earned $2.34 EPS. American Tower’s quarterly revenue was up 3.0% on a year-over-year basis. On average, analysts expect that American Tower Co. will post 9.94 earnings per share for the current year.

American Tower Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were issued a dividend of $1.62 per share. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $6.48 annualized dividend and a dividend yield of 3.78%. American Tower’s dividend payout ratio is currently 203.77%.

Insider Activity

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. In related news, Director Pamela D. A. Reeve sold 5,054 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the sale, the director now 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 this hyperlink. Also, CFO Rodney M. Smith sold 11,510 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the completion of the sale, the chief financial officer now owns 62,969 shares in the company, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

AMT has been the topic of a number of research reports. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Morgan Stanley boosted their price objective on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Barclays boosted their price objective on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. 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. Finally, Mizuho began coverage on shares of American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and an average price target 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.