American Tower Co. (NYSE:AMT) Shares Sold by Hoylecohen LLC

Hoylecohen LLC lowered its stake in shares of American Tower Co. (NYSE:AMT) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,709 shares of the real estate investment trust’s stock after selling 379 shares during the period. Hoylecohen LLC’s holdings in American Tower were worth $5,550,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thompson Investment Management Inc. acquired a new position in shares of American Tower in the 4th quarter valued at $29,000. Private Wealth Management Group LLC purchased a new stake in shares of American Tower in the 4th quarter valued at $31,000. Brown Shipley& Co Ltd purchased a new stake in shares of American Tower in the 3rd quarter valued at $35,000. Valley National Advisers Inc. raised its holdings in shares of American Tower by 200.0% in the 4th quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 118 shares during the period. Finally, Oakworth Capital Inc. raised its holdings in shares of American Tower by 157.9% in the 4th quarter. Oakworth Capital Inc. now owns 196 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 120 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Down 0.4 %

NYSE AMT traded down $0.69 on Friday, hitting $185.91. 1,257,930 shares of the stock traded hands, compared to its average volume of 2,419,830. The stock has a 50-day moving average of $185.52 and a 200 day moving average of $196.09. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $219.10. The company has a market capitalization of $86.82 billion, a P/E ratio of 42.20, a price-to-earnings-growth ratio of 1.37 and a beta of 0.71. 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 issued its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.79 billion. American Tower had a return on equity of 18.45% and a net margin of 18.42%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company earned $2.54 earnings per share. As a group, analysts expect that American Tower Co. will post 9.96 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 14th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $6.48 annualized dividend and a yield of 3.49%. American Tower’s dividend payout ratio (DPR) is currently 146.61%.

Insider Activity

In other news, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction that occurred on 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 owns 18,545 shares in the company, valued at $3,532,080.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Robert D. Hormats sold 700 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $183.50, for a total value of $128,450.00. Following the completion of the transaction, the director now owns 7,332 shares in the company, valued at approximately $1,345,422. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total transaction of $962,584.84. Following the sale, the director now directly owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,264 shares of company stock valued at $3,458,757. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Barclays boosted their price objective on American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. BMO Capital Markets cut their price target on American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Scotiabank cut their price target on American Tower from $243.00 to $223.00 and set a “sector outperform” rating on the stock in a report on Wednesday, May 1st. Finally, Morgan Stanley upped their price target on American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.91.

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.