American Tower Co. (NYSE:AMT) Stock Holdings Lowered by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. lowered its position in shares of American Tower Co. (NYSE:AMT) by 1.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 87,052 shares of the real estate investment trust’s stock after selling 1,575 shares during the period. Pittenger & Anderson Inc.’s holdings in American Tower were worth $18,793,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of AMT. McClarren Financial Advisors Inc. bought a new position in American Tower in the 3rd quarter valued at about $27,000. Emerald Advisers LLC bought a new position in American Tower in the 3rd quarter valued at about $29,000. Thompson Investment Management Inc. bought a new position in American Tower in the 4th quarter valued at about $29,000. Brown Shipley& Co Ltd bought a new position in American Tower in the 3rd quarter valued at about $35,000. Finally, Valley National Advisers Inc. grew its position in American Tower by 200.0% in the 4th quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 118 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 11,510 shares of the 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 transaction, the chief financial officer now owns 62,969 shares in the company, valued at $12,953,352.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the transaction, the director now owns 18,545 shares in the company, valued at $3,532,080.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 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 owned by insiders.

American Tower Stock Down 0.2 %

Shares of NYSE AMT traded down $0.36 during mid-day trading on Friday, reaching $172.54. The company had a trading volume of 753,431 shares, compared to its average volume of 2,410,108. The stock has a fifty day moving average of $190.60 and a two-hundred day moving average of $193.90. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market capitalization of $80.46 billion, a price-to-earnings ratio of 54.39, a PEG ratio of 1.37 and a beta of 0.67. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $219.10.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). The company had revenue of $2.79 billion during 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%. American Tower’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the company earned $2.34 earnings per share. As a group, equities research analysts expect that American Tower Co. will post 9.94 EPS for the current year.

American Tower Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date is Thursday, April 11th. American Tower’s dividend payout ratio (DPR) is 203.77%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AMT shares. Mizuho started coverage on shares of American Tower in a report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price target for the company. BMO Capital Markets cut their price target on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Morgan Stanley upped their price target on shares of American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. JPMorgan Chase & Co. cut their price target on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Finally, StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $217.36.

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.