Bank of New York Mellon Corp Has $549.85 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Bank of New York Mellon Corp lifted its stake in American Tower Co. (NYSE:AMT) by 0.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,997,926 shares of the real estate investment trust’s stock after buying an additional 6,997 shares during the period. Bank of New York Mellon Corp’s holdings in American Tower were worth $549,850,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brown Financial Advisors raised its stake in shares of American Tower by 11.4% during the 4th quarter. Brown Financial Advisors now owns 2,290 shares of the real estate investment trust’s stock worth $420,000 after purchasing an additional 234 shares in the last quarter. Pine Valley Investments Ltd Liability Co increased its holdings in American Tower by 23.7% during the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 12,585 shares of the real estate investment trust’s stock worth $2,320,000 after buying an additional 2,412 shares during the last quarter. Pring Turner Capital Group Inc. raised its position in American Tower by 23.2% during the fourth quarter. Pring Turner Capital Group Inc. now owns 5,706 shares of the real estate investment trust’s stock worth $1,047,000 after acquiring an additional 1,073 shares in the last quarter. Skylands Capital LLC lifted its stake in American Tower by 45.7% in the fourth quarter. Skylands Capital LLC now owns 56,320 shares of the real estate investment trust’s stock valued at $10,330,000 after acquiring an additional 17,675 shares during the last quarter. Finally, RWC Asset Management LLP grew its position in shares of American Tower by 4.4% in the 4th quarter. RWC Asset Management LLP now owns 245,469 shares of the real estate investment trust’s stock valued at $45,021,000 after acquiring an additional 10,355 shares during the period. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

American Tower Trading Up 6.2 %

Shares of American Tower stock opened at $203.84 on Wednesday. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The stock has a market cap of $95.25 billion, a PE ratio of 86.01, a PEG ratio of 1.29 and a beta of 0.84. The firm has a 50-day moving average of $185.84 and a 200-day moving average of $207.01. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the previous year, the firm posted $2.29 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, sell-side analysts forecast that American Tower Co. will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.18%. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AMT shares. Mizuho dropped their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. BMO Capital Markets cut their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Barclays decreased their target price on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, The Goldman Sachs Group cut their price target on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $227.00.

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.