First American Trust FSB Has $350,000 Stake in American Tower Co. (NYSE:AMT)

First American Trust FSB lowered its holdings in American Tower Co. (NYSE:AMT) by 93.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,908 shares of the real estate investment trust’s stock after selling 26,759 shares during the quarter. First American Trust FSB’s holdings in American Tower were worth $350,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Roxbury Financial LLC bought a new stake in shares of American Tower during the fourth quarter worth about $32,000. Legacy Investment Solutions LLC acquired a new position in American Tower during the 3rd quarter valued at about $34,000. Crowley Wealth Management Inc. bought a new stake in American Tower during the 4th quarter worth approximately $37,000. Bank of Jackson Hole Trust purchased a new stake in shares of American Tower in the fourth quarter worth approximately $46,000. Finally, Versant Capital Management Inc lifted its holdings in shares of American Tower by 113.9% in the fourth quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 139 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the 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 sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMT. Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Wells Fargo & Company upgraded shares of American Tower from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $210.00 to $230.00 in a report on Monday, March 17th. 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 report on Thursday, December 12th. Citigroup increased their price objective on shares of American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Finally, BMO Capital Markets boosted their target price on American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, American Tower has a consensus rating of “Buy” and a consensus price target of $229.43.

American Tower Stock Down 1.6 %

AMT stock opened at $209.44 on Wednesday. The stock has a fifty day moving average of $197.32 and a 200-day moving average of $204.91. 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 market capitalization of $97.90 billion, a price-to-earnings ratio of 88.37, a PEG ratio of 1.29 and a beta of 0.85. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

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

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be given a dividend of $1.70 per share. The ex-dividend date is Friday, April 11th. This represents a $6.80 annualized dividend and a dividend yield of 3.25%. This is an increase from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio is currently 141.37%.

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.