Pettyjohn Wood & White Inc. Sells 106 Shares of American Tower Co. (NYSE:AMT)

Pettyjohn Wood & White Inc. cut its holdings in American Tower Co. (NYSE:AMT) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,217 shares of the real estate investment trust’s stock after selling 106 shares during the period. Pettyjohn Wood & White Inc.’s holdings in American Tower were worth $1,140,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Fortitude Family Office LLC raised its stake in shares of American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 78 shares during the period. Hara Capital LLC purchased a new position in American Tower during the 3rd quarter valued at about $31,000. Legacy Investment Solutions LLC purchased a new stake in American Tower during the third quarter worth $34,000. Activest Wealth Management lifted its stake in shares of American Tower by 431.0% during the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 125 shares during the last quarter. Finally, Roxbury Financial LLC purchased a new stake in shares of American Tower during the fourth quarter valued at about $32,000. 92.69% of the stock is owned by institutional investors.

Insider Buying and Selling at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale 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 company insiders.

American Tower Stock Performance

Shares of NYSE:AMT opened at $204.12 on Friday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The firm has a market capitalization of $95.38 billion, a PE ratio of 86.13, a P/E/G ratio of 1.29 and a beta of 0.84. The business has a 50-day moving average of $186.66 and a two-hundred day moving average of $206.94.

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

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.17%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio is presently 273.42%.

Analyst Ratings Changes

A number of research firms have recently weighed in on AMT. Barclays lowered their price objective on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Citizens Jmp raised American Tower to a “strong-buy” rating in a report on Monday, January 27th. Morgan Stanley dropped their price objective on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday. Mizuho decreased their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company reduced their price target on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $225.21.

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.