Citizens & Northern Corp Trims Position in American Tower Co. (NYSE:AMT)

Citizens & Northern Corp reduced its holdings in American Tower Co. (NYSE:AMT) by 4.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,073 shares of the real estate investment trust’s stock after selling 432 shares during the quarter. Citizens & Northern Corp’s holdings in American Tower were worth $1,959,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of American Tower by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 60,930,583 shares of the real estate investment trust’s stock worth $10,020,034,000 after buying an additional 196,942 shares during the period. Wellington Management Group LLP raised its holdings in shares of American Tower by 5.6% in the 3rd quarter. Wellington Management Group LLP now owns 12,984,052 shares of the real estate investment trust’s stock worth $2,135,227,000 after purchasing an additional 691,934 shares during the period. Morgan Stanley lifted its stake in shares of American Tower by 3.7% in the 3rd quarter. Morgan Stanley now owns 7,269,957 shares of the real estate investment trust’s stock valued at $1,195,545,000 after purchasing an additional 258,030 shares in the last quarter. Akre Capital Management LLC grew its holdings in shares of American Tower by 0.5% during the 4th quarter. Akre Capital Management LLC now owns 6,804,599 shares of the real estate investment trust’s stock worth $1,468,977,000 after purchasing an additional 36,375 shares during the period. Finally, FMR LLC increased its position in American Tower by 2.1% during the 3rd quarter. FMR LLC now owns 6,628,436 shares of the real estate investment trust’s stock worth $1,090,046,000 after purchasing an additional 138,303 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the transaction, the director now directly owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the sale, the director now directly owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the transaction, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,264 shares of company stock valued at $3,458,757. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Morgan Stanley boosted their price objective on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Mizuho began coverage on American Tower in a research report on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price for the company. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Scotiabank decreased their price target on American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. reduced their target price on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, American Tower currently has an average rating of “Moderate Buy” and a consensus target price of $221.91.

American Tower Stock Down 2.2 %

NYSE AMT traded down $4.20 during trading hours on Thursday, reaching $187.14. 1,099,232 shares of the company traded hands, compared to its average volume of 2,424,094. The company has a 50 day moving average of $185.77 and a two-hundred day moving average of $196.15. The stock has a market capitalization of $87.39 billion, a PE ratio of 43.27, a PEG ratio of 1.39 and a beta of 0.71. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.39.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). American Tower had a return on equity of 18.45% and a net margin of 18.42%. The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same quarter last year, the business posted $2.54 earnings per share. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, equities analysts expect that American Tower Co. will post 9.96 earnings per share for the current year.

American Tower Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.46%. The ex-dividend date was Thursday, April 11th. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

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.