NBW Capital LLC Sells 366 Shares of American Tower Co. (NYSE:AMT)

NBW Capital LLC reduced its holdings in American Tower Co. (NYSE:AMT) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,073 shares of the real estate investment trust’s stock after selling 366 shares during the quarter. American Tower comprises 1.6% of NBW Capital LLC’s investment portfolio, making the stock its 22nd largest position. NBW Capital LLC’s holdings in American Tower were worth $7,356,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Delta Financial Advisors LLC grew its holdings in shares of American Tower by 3.7% during the 4th quarter. Delta Financial Advisors LLC now owns 1,981 shares of the real estate investment trust’s stock worth $428,000 after acquiring an additional 70 shares during the period. Federated Hermes Inc. grew its stake in American Tower by 6.8% in the fourth quarter. Federated Hermes Inc. now owns 522,330 shares of the real estate investment trust’s stock worth $112,761,000 after purchasing an additional 33,477 shares during the period. Tufton Capital Management raised its holdings in American Tower by 3.1% in the fourth quarter. Tufton Capital Management now owns 2,010 shares of the real estate investment trust’s stock worth $434,000 after purchasing an additional 60 shares in the last quarter. Roman Butler Fullerton & Co. bought a new position in American Tower in the fourth quarter worth $224,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of American Tower by 75.2% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,023 shares of the real estate investment trust’s stock worth $222,000 after buying an additional 439 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at American Tower

In other news, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Pamela D. A. Reeve sold 5,054 shares of American Tower 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 in the company, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

American Tower Stock Performance

Shares of American Tower stock traded down $0.52 during trading on Thursday, hitting $171.50. 1,245,954 shares of the company’s stock traded hands, compared to its average volume of 2,405,704. The business has a 50-day simple moving average of $192.83 and a 200-day simple moving average of $193.58. 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 capitalization of $79.98 billion, a P/E ratio of 54.09, a PEG ratio of 1.42 and a beta of 0.67. American Tower Co. has a 1 year low of $154.58 and a 1 year high of $219.10.

American Tower (NYSE:AMT) last issued its 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). 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%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.34 EPS. As a group, analysts forecast that American Tower Co. will post 10.06 EPS for the current year.

American Tower Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be given a $1.62 dividend. The ex-dividend date is Thursday, April 11th. This represents a $6.48 annualized dividend and a yield of 3.78%. American Tower’s payout ratio is 203.77%.

Analysts Set New Price Targets

AMT has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their price target on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. BMO Capital Markets cut their price target on American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Barclays lifted 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. Finally, Mizuho assumed coverage on American Tower in a research report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price target for the company. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and an average 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.