Capital Bank & Trust Co cut its position in American Tower Corp (NYSE:AMT) by 16.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 502,007 shares of the real estate investment trust’s stock after selling 96,084 shares during the period. American Tower accounts for approximately 1.5% of Capital Bank & Trust Co’s investment portfolio, making the stock its 18th biggest holding. Capital Bank & Trust Co owned about 0.11% of American Tower worth $115,371,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of AMT. Country Trust Bank grew its holdings in shares of American Tower by 289.3% in the fourth quarter. Country Trust Bank now owns 109 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 81 shares during the last quarter. CXI Advisors acquired a new position in American Tower during the fourth quarter worth $27,000. TI Trust Inc. purchased a new position in shares of American Tower in the fourth quarter valued at $34,000. C M Bidwell & Associates Ltd. purchased a new position in shares of American Tower in the fourth quarter valued at $34,000. Finally, IndexIQ Advisors LLC acquired a new position in shares of American Tower during the 4th quarter worth $35,000. 92.24% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE AMT traded up $17.50 during midday trading on Thursday, reaching $216.76. 772,088 shares of the stock were exchanged, compared to its average volume of 3,526,621. The company has a market capitalization of $84.27 billion, a P/E ratio of 51.24, a P/E/G ratio of 1.28 and a beta of 0.41. American Tower Corp has a 52-week low of $174.32 and a 52-week high of $258.62. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 5.03. The stock has a 50 day moving average price of $235.54 and a 200-day moving average price of $225.48.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.86 by ($0.60). American Tower had a net margin of 24.90% and a return on equity of 32.51%. The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same period in the previous year, the company posted $0.62 EPS. The business’s quarterly revenue was down 9.8% on a year-over-year basis. On average, analysts forecast that American Tower Corp will post 8.32 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 29th. Shareholders of record on Tuesday, April 14th will be issued a $1.08 dividend. The ex-dividend date of this dividend is Monday, April 13th. This is an increase from American Tower’s previous quarterly dividend of $1.01. This represents a $4.32 annualized dividend and a yield of 1.99%. American Tower’s payout ratio is 52.26%.

In other news, EVP Steven O. Vondran sold 1,261 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $229.68, for a total transaction of $289,626.48. Following the sale, the executive vice president now owns 28,705 shares in the company, valued at $6,592,964.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Samme L. Thompson sold 3,000 shares of American Tower stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $227.56, for a total value of $682,680.00. Following the completion of the sale, the director now directly owns 22,598 shares of the company’s stock, valued at approximately $5,142,400.88. The disclosure for this sale can be found here. Insiders sold a total of 10,144 shares of company stock valued at $2,332,308 over the last quarter. 0.75% of the stock is currently owned by insiders.

A number of equities research analysts recently commented on the stock. New Street Research raised shares of American Tower from a “neutral” rating to a “buy” rating in a research note on Thursday, March 12th. Raymond James raised shares of American Tower from a “market perform” rating to an “outperform” rating and set a $211.00 price target on the stock in a report on Thursday. KeyCorp increased their price target on shares of American Tower from $254.00 to $273.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Edward Jones upgraded shares of American Tower from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Citigroup raised shares of American Tower from a “neutral” rating to a “buy” rating and set a $280.00 price objective for the company in a research note on Thursday, March 5th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $237.31.

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 approximately 171,000 communications sites.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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