American Tower Co. (NYSE:AMT) Shares Sold by New Hampshire Trust

New Hampshire Trust decreased its holdings in shares of American Tower Co. (NYSE:AMT) by 14.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,749 shares of the real estate investment trust’s stock after selling 1,536 shares during the quarter. New Hampshire Trust’s holdings in American Tower were worth $1,605,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Fortitude Family Office LLC boosted its stake in American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 78 shares during the last quarter. Fairscale Capital LLC acquired a new position in shares of American Tower during the 2nd quarter valued at about $27,000. Northwest Investment Counselors LLC purchased a new position in shares of American Tower during the 3rd quarter worth about $30,000. Hara Capital LLC acquired a new stake in shares of American Tower in the third quarter worth approximately $31,000. Finally, Legacy Investment Solutions LLC purchased a new stake in American Tower in the third quarter valued at approximately $34,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 0.2 %

NYSE AMT opened at $190.51 on Tuesday. The stock has a market cap of $89.02 billion, a PE ratio of 80.39, a P/E/G ratio of 1.28 and a beta of 0.84. The business has a 50 day moving average price of $192.86 and a two-hundred day moving average price of $211.54. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.58 earnings per share. As a group, sell-side analysts predict that American Tower Co. will post 10.15 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s dividend payout ratio is currently 273.42%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group cut their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Wells Fargo & Company lowered American Tower from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. BMO Capital Markets reduced their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Mizuho dropped their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, Barclays reduced their price objective on American Tower from $251.00 to $215.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $230.67.

Insider Buying and Selling at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the company’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 value of $3,000,283.70. Following the transaction, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.18% of the stock is owned by insiders.

American Tower 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.