American Tower Co. (NYSE:AMT) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC trimmed its holdings in American Tower Co. (NYSE:AMT) by 5.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,676,210 shares of the real estate investment trust’s stock after selling 101,795 shares during the period. CIBC Private Wealth Group LLC’s holdings in American Tower were worth $300,360,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of AMT. Glenview Trust co lifted its position in American Tower by 0.8% in the fourth quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust’s stock valued at $1,294,000 after purchasing an additional 54 shares during the period. Rehmann Capital Advisory Group boosted its stake in shares of American Tower by 4.2% in the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock valued at $332,000 after buying an additional 58 shares in the last quarter. Precedent Wealth Partners LLC grew its holdings in American Tower by 4.7% during the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock worth $235,000 after acquiring an additional 58 shares during the period. Resonant Capital Advisors LLC raised its position in American Tower by 5.8% in the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock worth $206,000 after acquiring an additional 61 shares in the last quarter. Finally, Calamos Wealth Management LLC lifted its holdings in American Tower by 2.9% in the fourth quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust’s stock valued at $398,000 after acquiring an additional 61 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 0.7 %

Shares of AMT opened at $215.52 on Friday. The stock’s fifty day simple moving average is $198.89 and its 200 day simple moving average is $204.58. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market capitalization of $100.74 billion, a P/E ratio of 90.94, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85.

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

American Tower Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be given a $1.70 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 annualized dividend and a dividend yield of 3.16%. This is a positive change from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio is presently 141.37%.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Morgan Stanley lowered their target price on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. JMP Securities initiated coverage on American Tower in a research note on Monday, January 27th. They set an “outperform” rating and a $225.00 price target on the stock. BMO Capital Markets raised their price objective on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Finally, Mizuho decreased their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, American Tower currently has a consensus rating of “Buy” and an average target price of $229.43.

About American Tower

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.