FineMark National Bank & Trust Lowers Stock Position in American Tower Co. (NYSE:AMT)

FineMark National Bank & Trust decreased its position in American Tower Co. (NYSE:AMT) by 6.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,925 shares of the real estate investment trust’s stock after selling 1,416 shares during the period. FineMark National Bank & Trust’s holdings in American Tower were worth $4,021,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in American Tower in the 3rd quarter worth $34,000. Roxbury Financial LLC acquired a new stake in shares of American Tower in the fourth quarter valued at about $32,000. Crowley Wealth Management Inc. acquired a new position in shares of American Tower during the 4th quarter worth about $37,000. Hobbs Group Advisors LLC lifted its stake in American Tower by 51.0% in the 3rd quarter. Hobbs Group Advisors LLC now owns 222 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 75 shares in the last quarter. Finally, Larson Financial Group LLC boosted its holdings in American Tower by 49.3% in the 3rd quarter. Larson Financial Group LLC now owns 227 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 75 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Down 1.6 %

Shares of American Tower stock opened at $209.44 on Wednesday. The stock has a 50 day moving average of $197.32 and a 200 day moving average of $204.91. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market capitalization of $97.90 billion, a price-to-earnings ratio of 88.37, a PEG ratio of 1.29 and a beta of 0.85. 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 released its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same period in the prior year, the business posted $2.29 EPS. The company’s revenue was up 3.7% compared to the same quarter last year. As a group, research analysts predict that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be issued a $1.70 dividend. This is a positive change from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Friday, April 11th. American Tower’s dividend payout ratio is currently 141.37%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AMT shares. Citigroup raised their target price on American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Barclays raised their price objective on American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Scotiabank dropped their target price on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. JMP Securities initiated coverage on shares of American Tower in a research note on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target on the stock. Finally, Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $229.43.

Insider Buying and Selling

In other American Tower 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 transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is currently owned by corporate insiders.

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.