American Tower Co. (NYSE:AMT) Stake Trimmed by Israel Discount Bank of New York

Israel Discount Bank of New York lowered its stake in American Tower Co. (NYSE:AMT) by 5.1% during the fourth quarter, HoldingsChannel reports. The firm owned 2,758 shares of the real estate investment trust’s stock after selling 147 shares during the period. Israel Discount Bank of New York’s holdings in American Tower were worth $595,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Thompson Investment Management Inc. purchased a new position in American Tower during the 4th quarter valued at about $29,000. McClarren Financial Advisors Inc. purchased a new position in American Tower during the 3rd quarter valued at about $27,000. Emerald Advisers LLC acquired a new stake in shares of American Tower during the 3rd quarter valued at about $29,000. Valley National Advisers Inc. lifted its holdings in shares of American Tower by 200.0% during 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 during the last quarter. Finally, Oakworth Capital Inc. lifted its holdings in shares of American Tower by 157.9% during the 4th quarter. Oakworth Capital Inc. now owns 196 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Activity

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 stock was sold at an average price of $190.46, for a total transaction of $962,584.84. Following the transaction, the director now owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other American Tower news, 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 value of $2,367,722.10. Following the transaction, the chief financial officer now 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 Securities & Exchange Commission, which is available at this link. Also, Director Pamela D. A. Reeve sold 5,054 shares of the 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 in the company, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

American Tower Price Performance

Shares of AMT stock traded up $2.53 during trading hours on Monday, hitting $174.22. 1,482,410 shares of the company’s stock were exchanged, compared to its average volume of 2,409,506. The stock’s 50-day moving average is $190.29 and its 200-day moving average is $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. The stock has a market cap of $81.25 billion, a price-to-earnings ratio of 53.99, a price-to-earnings-growth ratio of 1.36 and a beta of 0.67. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $219.10.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) 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 firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same period last year, the company earned $2.34 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. As a group, research analysts forecast that American Tower Co. will post 9.94 EPS for the current year.

American Tower Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.72%. The ex-dividend date was Thursday, April 11th. American Tower’s dividend payout ratio (DPR) is presently 203.77%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their price target on American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Mizuho began coverage on American Tower in a report on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price for the company. Barclays boosted their target price on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Morgan Stanley upped their price target on American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Finally, BMO Capital Markets cut their price target on American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $217.36.

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.