American Tower Co. (NYSE:AMT) Shares Sold by UMB Bank n.a.

UMB Bank n.a. trimmed its holdings in shares of American Tower Co. (NYSE:AMT – Get Rating) by 68.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,895 shares of the real estate investment trust’s stock after selling 35,133 shares during the quarter. UMB Bank n.a.’s holdings in American Tower were worth $3,368,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Gries Financial LLC increased its position in shares of American Tower by 34.5% during the fourth quarter. Gries Financial LLC now owns 11,265 shares of the real estate investment trust’s stock worth $2,387,000 after acquiring an additional 2,890 shares during the last quarter. Coldstream Capital Management Inc. purchased a new stake in shares of American Tower during the fourth quarter worth about $4,940,000. Gradient Investments LLC increased its position in shares of American Tower by 16.5% during the fourth quarter. Gradient Investments LLC now owns 68,882 shares of the real estate investment trust’s stock worth $14,593,000 after acquiring an additional 9,747 shares during the last quarter. CWA Asset Management Group LLC increased its position in shares of American Tower by 81.9% during the fourth quarter. CWA Asset Management Group LLC now owns 20,194 shares of the real estate investment trust’s stock worth $4,278,000 after acquiring an additional 9,091 shares during the last quarter. Finally, Value Partners Investments Inc. increased its position in shares of American Tower by 12.5% during the fourth quarter. Value Partners Investments Inc. now owns 4,041 shares of the real estate investment trust’s stock worth $856,000 after acquiring an additional 448 shares during the last quarter. 89.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of analyst reports. Raymond James dropped their target price on American Tower from $233.00 to $227.00 and set an “outperform” rating on the stock in a research report on Friday, February 24th. Morgan Stanley boosted their price objective on American Tower from $219.00 to $224.00 and gave the company an “equal weight” rating in a report on Monday, January 23rd. Royal Bank of Canada lowered their price objective on American Tower from $240.00 to $230.00 and set an “outperform” rating for the company in a report on Monday, March 6th. Credit Suisse Group lowered their price objective on American Tower from $251.00 to $244.00 and set an “outperform” rating for the company in a report on Friday, February 24th. Finally, Truist Financial lowered their price objective on American Tower from $325.00 to $275.00 and set a “buy” rating for the company in a report on Friday, January 13th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $260.31.

American Tower Stock Performance

Shares of AMT stock opened at $201.35 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 2.75. The business has a 50 day moving average of $212.26 and a two-hundred day moving average of $215.51. American Tower Co. has a 52 week low of $178.17 and a 52 week high of $282.47. The company has a market cap of $93.76 billion, a P/E ratio of 52.44, a PEG ratio of 2.17 and a beta of 0.56.

American Tower (NYSE:AMT – Get Rating) last issued its quarterly earnings data on Thursday, February 23rd. The real estate investment trust reported ($1.47) earnings per share (EPS) for the quarter, missing the consensus estimate of $2.16 by ($3.63). The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.68 billion. American Tower had a return on equity of 15.80% and a net margin of 16.49%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.18 earnings per share. As a group, analysts anticipate that American Tower Co. will post 9.24 EPS for the current year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, April 14th will be given a dividend of $1.56 per share. The ex-dividend date is Thursday, April 13th. This represents a $6.24 annualized dividend and a dividend yield of 3.10%. American Tower’s dividend payout ratio is presently 162.50%.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 2,035 shares of the business’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $220.85, for a total transaction of $449,429.75. Following the completion of the transaction, the chief financial officer now directly owns 48,645 shares in the company, valued at $10,743,248.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Rodney M. Smith sold 2,035 shares of the business’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $220.85, for a total transaction of $449,429.75. Following the completion of the transaction, the chief financial officer now directly owns 48,645 shares in the company, valued at $10,743,248.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Raymond P. Dolan sold 1,619 shares of the business’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $233.92, for a total value of $378,716.48. Following the transaction, the director now owns 17,473 shares of the company’s stock, valued at $4,087,284.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,587 shares of company stock worth $1,947,849. Company insiders own 0.24% of the company’s stock.

American Tower Company Profile

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American Tower Corp. provides real estate investment services, and owns, operates, and develops multi-tenant real estate properties. It offers leasing of space on communications sites to wireless service providers, radio and television broadcast companies. It operates through the following segments: U.S.