American Tower Co. (NYSE:AMT) Shares Sold by Syntax Research Inc.

Syntax Research Inc. decreased its holdings in American Tower Co. (NYSE:AMT) by 1.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,391 shares of the real estate investment trust’s stock after selling 126 shares during the quarter. American Tower accounts for about 2.2% of Syntax Research Inc.’s holdings, making the stock its 14th largest holding. Syntax Research Inc.’s holdings in American Tower were worth $2,675,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. McClarren Financial Advisors Inc. acquired a new position in shares of American Tower during the third quarter valued at approximately $27,000. Emerald Advisers LLC acquired a new position in shares of American Tower during the third quarter valued at approximately $29,000. Thompson Investment Management Inc. acquired a new position in shares of American Tower during the fourth quarter valued at approximately $29,000. Pinnacle Holdings LLC acquired a new position in shares of American Tower during the first quarter valued at approximately $29,000. Finally, Eagle Bay Advisors LLC purchased a new stake in shares of American Tower in the second quarter valued at approximately $30,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Down 1.1 %

Shares of AMT traded down $1.99 during midday trading on Monday, hitting $177.21. 679,203 shares of the stock were exchanged, compared to its average volume of 2,371,152. American Tower Co. has a 52-week low of $154.58 and a 52-week high of $219.10. The stock has a fifty day simple moving average of $193.88 and a 200 day simple moving average of $193.57. The firm has a market cap of $82.64 billion, a P/E ratio of 55.75, a P/E/G ratio of 1.24 and a beta of 0.67. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing the consensus estimate of $2.10 by ($1.16). The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.74 billion. American Tower had a return on equity of 12.80% and a net margin of 13.31%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.34 earnings per share. On average, research analysts anticipate that American Tower Co. will post 10.05 EPS for the current fiscal year.

American Tower Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Thursday, April 11th. American Tower’s dividend payout ratio is presently 203.77%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AMT shares. BMO Capital Markets dropped their price target on American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. Morgan Stanley upped their price target on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research report on Monday. Mizuho started coverage on American Tower in a research report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price target for the company. JPMorgan Chase & Co. dropped their price target on American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. Finally, Barclays upped their price target on American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average target price of $217.36.

Insider Transactions at American Tower

In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the sale, the chief financial officer now owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the company’s stock in a transaction dated 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 directly owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the sale, the chief financial officer now owns 62,969 shares in the company, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

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.