US Bancorp DE Sells 50,701 Shares of American Tower Co. (NYSE:AMT)

US Bancorp DE lessened its stake in American Tower Co. (NYSE:AMT) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,096,154 shares of the real estate investment trust’s stock after selling 50,701 shares during the quarter. US Bancorp DE owned approximately 0.23% of American Tower worth $201,047,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Fisher Asset Management LLC lifted its holdings in American Tower by 0.7% during the fourth quarter. Fisher Asset Management LLC now owns 1,742,997 shares of the real estate investment trust’s stock worth $319,683,000 after acquiring an additional 11,427 shares during the period. Cobblestone Capital Advisors LLC NY lifted its holdings in American Tower by 22.7% during the fourth quarter. Cobblestone Capital Advisors LLC NY now owns 73,052 shares of the real estate investment trust’s stock worth $13,398,000 after acquiring an additional 13,531 shares during the period. SVB Wealth LLC bought a new stake in American Tower during the fourth quarter worth $1,800,000. Yelin Lapidot Holdings Management Ltd. lifted its holdings in American Tower by 84.3% during the fourth quarter. Yelin Lapidot Holdings Management Ltd. now owns 2,046 shares of the real estate investment trust’s stock worth $375,000 after acquiring an additional 936 shares during the period. Finally, Linscomb Wealth Inc. lifted its holdings in American Tower by 1.0% during the fourth quarter. Linscomb Wealth Inc. now owns 51,761 shares of the real estate investment trust’s stock worth $9,493,000 after acquiring an additional 498 shares during the period. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is owned by company insiders.

American Tower Price Performance

Shares of NYSE AMT opened at $205.61 on Friday. The stock has a market cap of $96.08 billion, a PE ratio of 86.76, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. 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 debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a fifty day moving average of $187.09 and a 200-day moving average of $206.81.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.83. The company had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.29 earnings per share. Equities research analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.15%. The ex-dividend date was Friday, December 27th. American Tower’s payout ratio is 273.42%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AMT. Mizuho dropped their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research note on Monday, January 27th. BMO Capital Markets boosted their target price on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday. Morgan Stanley lowered their target price on American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. Finally, Wells Fargo & Company lowered their target price on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and a consensus target price of $225.21.

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.