American Tower Co. (NYSE:AMT) Shares Sold by Moreno Evelyn V

Moreno Evelyn V lowered its stake in shares of American Tower Co. (NYSE:AMT) by 63.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,019 shares of the real estate investment trust’s stock after selling 15,684 shares during the quarter. Moreno Evelyn V’s holdings in American Tower were worth $1,947,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. SteelPeak Wealth LLC purchased a new position in American Tower during the 3rd quarter worth $344,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in American Tower in the 3rd quarter valued at about $508,000. Corient Private Wealth LLC lifted its position in American Tower by 4.9% during the 3rd quarter. Corient Private Wealth LLC now owns 335,537 shares of the real estate investment trust’s stock worth $55,201,000 after acquiring an additional 15,531 shares during the period. Signaturefd LLC grew its stake in shares of American Tower by 16.4% in the 3rd quarter. Signaturefd LLC now owns 7,752 shares of the real estate investment trust’s stock valued at $1,275,000 after purchasing an additional 1,095 shares during the last quarter. Finally, Syon Capital LLC purchased a new stake in shares of American Tower during the third quarter worth approximately $283,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Trading Down 1.6 %

NYSE AMT traded down $3.03 during mid-day trading on Thursday, reaching $188.31. 684,647 shares of the stock were exchanged, compared to its average volume of 2,420,148. The stock has a market capitalization of $87.94 billion, a PE ratio of 43.27, a PEG ratio of 1.39 and a beta of 0.71. The business’s fifty day simple moving average is $185.77 and its 200 day simple moving average is $196.15. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.85 and a current ratio of 0.85.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.47). American Tower had a net margin of 18.42% and a return on equity of 18.45%. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same period in the prior year, the firm earned $2.54 earnings per share. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. On average, research analysts anticipate that American Tower Co. will post 9.96 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.44%. The ex-dividend date was Thursday, April 11th. American Tower’s dividend payout ratio (DPR) is 146.61%.

Insider Activity

In related news, 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 sale, the chief financial officer now owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now directly 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 accessible through this link. Also, Director Robert D. Hormats sold 700 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total value of $128,450.00. Following the completion of the sale, the director now directly owns 7,332 shares in the company, valued at approximately $1,345,422. The disclosure for this sale can be found here. Insiders have sold 17,264 shares of company stock worth $3,458,757 over the last 90 days. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on AMT shares. Scotiabank cut their price objective on American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a research report on Wednesday, May 1st. 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 price objective for the company. Raymond James upgraded shares of American Tower from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $226.00 to $248.00 in a research report on Wednesday, May 1st. BMO Capital Markets decreased their price target on American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Finally, Barclays raised their price objective on American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $221.91.

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.