American Tower Co. (NYSE:AMT) Shares Sold by Keybank National Association OH

Keybank National Association OH decreased its position in American Tower Co. (NYSE:AMT) by 5.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 87,570 shares of the real estate investment trust’s stock after selling 5,216 shares during the period. Keybank National Association OH’s holdings in American Tower were worth $16,061,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in AMT. Jag Capital Management LLC grew its stake in American Tower by 1.1% in the 4th quarter. Jag Capital Management LLC now owns 10,561 shares of the real estate investment trust’s stock valued at $1,937,000 after acquiring an additional 112 shares during the last quarter. SWS Partners grew its position in shares of American Tower by 14.6% in the fourth quarter. SWS Partners now owns 9,113 shares of the real estate investment trust’s stock valued at $1,686,000 after purchasing an additional 1,162 shares during the last quarter. Torray Investment Partners LLC grew its position in shares of American Tower by 16.0% in the fourth quarter. Torray Investment Partners LLC now owns 48,923 shares of the real estate investment trust’s stock valued at $8,973,000 after purchasing an additional 6,752 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in shares of American Tower by 91.9% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 28,302 shares of the real estate investment trust’s stock worth $5,149,000 after purchasing an additional 13,550 shares in the last quarter. Finally, Alta Capital Management LLC raised its position in shares of American Tower by 6.3% during the 4th quarter. Alta Capital Management LLC now owns 20,438 shares of the real estate investment trust’s stock worth $3,749,000 after purchasing an additional 1,220 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

AMT has been the subject of several recent research reports. Mizuho dropped their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Scotiabank dropped their price objective on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday, January 23rd. The Goldman Sachs Group reduced their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Finally, JMP Securities started coverage on shares of American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price objective for the company. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $225.21.

American Tower Stock Down 1.1 %

Shares of AMT opened at $207.21 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market cap of $96.83 billion, a PE ratio of 87.43, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. The company’s fifty day moving average is $188.05 and its two-hundred day moving average is $206.43. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56.

American Tower (NYSE:AMT) last posted its quarterly earnings results 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. The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.29 earnings per share. Analysts forecast that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were given a dividend of $1.62 per share. The ex-dividend date was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.13%. American Tower’s dividend payout ratio (DPR) is 134.72%.

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.