Tranquility Partners LLC Sells 3,188 Shares of American Tower Co. (NYSE:AMT)

Tranquility Partners LLC decreased its stake in shares of American Tower Co. (NYSE:AMT) by 60.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,089 shares of the real estate investment trust’s stock after selling 3,188 shares during the period. Tranquility Partners LLC’s holdings in American Tower were worth $451,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Gateway Investment Advisers LLC lifted its position in American Tower by 57.7% during the 4th quarter. Gateway Investment Advisers LLC now owns 35,751 shares of the real estate investment trust’s stock valued at $7,718,000 after acquiring an additional 13,074 shares during the period. Victory Capital Management Inc. lifted its position in American Tower by 0.5% during the 3rd quarter. Victory Capital Management Inc. now owns 177,288 shares of the real estate investment trust’s stock valued at $29,155,000 after acquiring an additional 806 shares during the period. PDS Planning Inc lifted its position in American Tower by 16.1% during the 3rd quarter. PDS Planning Inc now owns 1,821 shares of the real estate investment trust’s stock valued at $299,000 after acquiring an additional 253 shares during the period. FAS Wealth Partners Inc. purchased a new position in American Tower in the fourth quarter worth about $2,001,000. Finally, DNB Asset Management AS raised its holdings in American Tower by 23.0% in the fourth quarter. DNB Asset Management AS now owns 159,805 shares of the real estate investment trust’s stock worth $34,499,000 after buying an additional 29,848 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the transaction, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the sale, the director now 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 Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the completion of the sale, the chief financial officer now directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on AMT shares. Morgan Stanley lifted their target price on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a report on Monday. BMO Capital Markets reduced their target price on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Barclays increased their target price on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Mizuho assumed coverage on shares of American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price on the stock. Finally, StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.36.

American Tower Stock Down 0.1 %

American Tower stock traded down $0.11 during midday trading on Thursday, hitting $171.91. 167,057 shares of the company’s stock were exchanged, compared to its average volume of 2,390,997. 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 Co. has a 12 month low of $154.58 and a 12 month high of $219.10. The firm has a 50-day moving average of $192.83 and a two-hundred day moving average of $193.58. The company has a market cap of $80.17 billion, a PE ratio of 54.09, a P/E/G ratio of 1.42 and a beta of 0.67.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). American Tower had a net margin of 13.31% and a return on equity of 12.80%. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the prior year, the business posted $2.34 earnings per share. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, analysts expect that American Tower Co. will post 10.06 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Thursday, April 11th. American Tower’s dividend payout ratio is currently 203.77%.

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.