Adell Harriman & Carpenter Inc. Has $12.63 Million Holdings in American Tower Co. (NYSE:AMT)

Adell Harriman & Carpenter Inc. decreased its stake in shares of American Tower Co. (NYSE:AMT) by 1.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 58,495 shares of the real estate investment trust’s stock after selling 861 shares during the period. American Tower makes up 1.2% of Adell Harriman & Carpenter Inc.’s holdings, making the stock its 25th largest position. Adell Harriman & Carpenter Inc.’s holdings in American Tower were worth $12,628,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of American Tower by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 60,930,583 shares of the real estate investment trust’s stock worth $10,020,034,000 after acquiring an additional 196,942 shares during the period. Wellington Management Group LLP increased its stake in shares of American Tower by 5.6% in the 3rd quarter. Wellington Management Group LLP now owns 12,984,052 shares of the real estate investment trust’s stock valued at $2,135,227,000 after buying an additional 691,934 shares during the period. Morgan Stanley increased its stake in shares of American Tower by 3.7% in the 3rd quarter. Morgan Stanley now owns 7,269,957 shares of the real estate investment trust’s stock valued at $1,195,545,000 after buying an additional 258,030 shares during the period. FMR LLC boosted its position in shares of American Tower by 2.1% in the 3rd quarter. FMR LLC now owns 6,628,436 shares of the real estate investment trust’s stock worth $1,090,046,000 after purchasing an additional 138,303 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of American Tower by 1.0% in the 3rd quarter. Invesco Ltd. now owns 5,711,667 shares of the real estate investment trust’s stock worth $939,284,000 after purchasing an additional 56,598 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of recent research reports. Mizuho started coverage on American Tower in a research report on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Barclays raised their target price on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, Morgan Stanley raised their target price on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and an average target price of $217.36.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction dated 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 $12,953,352.99. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $3,532,080.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction that occurred 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 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. 0.18% of the stock is owned by insiders.

American Tower Trading Up 1.9 %

NYSE AMT traded up $3.30 during trading on Monday, hitting $174.99. 2,104,859 shares of the company’s stock traded hands, compared to its average volume of 2,418,707. The stock has a fifty day moving average of $190.29 and a two-hundred day moving average of $194.42. 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 Co. has a 12-month low of $154.58 and a 12-month high of $219.10. The firm has a market cap of $81.61 billion, a P/E ratio of 53.99, a PEG ratio of 1.36 and a beta of 0.67.

American Tower (NYSE:AMT) last issued its quarterly earnings data 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 the consensus estimate of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the company posted $2.34 earnings per share. As a group, sell-side 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 was paid on Friday, April 26th. Investors of record on Friday, April 12th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend was Thursday, April 11th. American Tower’s 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.