Davidson Trust Co. Sells 779 Shares of American Tower Co. (NYSE:AMT)

Davidson Trust Co. lessened its holdings in American Tower Co. (NYSE:AMT) by 45.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 948 shares of the real estate investment trust’s stock after selling 779 shares during the period. Davidson Trust Co.’s holdings in American Tower were worth $205,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Fidelis Capital Partners LLC grew its position in American Tower by 29.9% during the fourth quarter. Fidelis Capital Partners LLC now owns 3,285 shares of the real estate investment trust’s stock valued at $709,000 after buying an additional 757 shares during the period. Western Wealth Management LLC grew its position in shares of American Tower by 27.6% during the 4th quarter. Western Wealth Management LLC now owns 8,316 shares of the real estate investment trust’s stock valued at $1,795,000 after acquiring an additional 1,801 shares during the period. Obermeyer Wood Investment Counsel Lllp purchased a new stake in shares of American Tower during the 4th quarter worth approximately $248,000. Tilt Investment Management Holdings PBC bought a new stake in shares of American Tower in the 4th quarter worth approximately $407,000. Finally, Cambridge Trust Co. lifted its stake in American Tower by 28.8% in the fourth quarter. Cambridge Trust Co. now owns 86,915 shares of the real estate investment trust’s stock valued at $18,763,000 after purchasing an additional 19,450 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Insider Transactions at American Tower

In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the firm’s 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 $12,953,352.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Pamela D. A. Reeve sold 5,054 shares of the company’s 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 completion of the sale, the director now owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction on 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 completion of the transaction, 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. 0.24% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

American Tower Price Performance

NYSE:AMT traded up $0.23 during trading hours on Friday, hitting $171.23. The stock had a trading volume of 1,039,479 shares, compared to its average volume of 2,401,154. The firm has a market capitalization of $79.85 billion, a price-to-earnings ratio of 53.77, a P/E/G ratio of 1.36 and a beta of 0.67. American Tower Co. has a one year low of $154.58 and a one year high of $219.10. The company has a 50 day simple moving average of $192.37 and a two-hundred day simple moving average of $193.43. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick 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 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($1.16). American Tower had a net margin of 13.31% and a return on equity of 12.80%. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the previous year, the business earned $2.34 EPS. The business’s revenue was up 3.0% on a year-over-year basis. Research analysts forecast that American Tower Co. will post 9.94 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend is Thursday, April 11th. American Tower’s dividend payout ratio is currently 203.77%.

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.