American Tower Co. (NYSE:AMT) Holdings Reduced by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. reduced its stake in American Tower Co. (NYSE:AMT) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,495 shares of the real estate investment trust’s stock after selling 861 shares during the period. American Tower accounts for approximately 1.2% of Adell Harriman & Carpenter Inc.’s holdings, making the stock its 25th biggest position. Adell Harriman & Carpenter Inc.’s holdings in American Tower were worth $12,628,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cross Staff Investments Inc lifted its stake in American Tower by 5.1% during the fourth quarter. Cross Staff Investments Inc now owns 5,027 shares of the real estate investment trust’s stock valued at $1,085,000 after purchasing an additional 244 shares during the last quarter. Gateway Investment Advisers LLC lifted its position in shares of American Tower by 57.7% in the 4th quarter. Gateway Investment Advisers LLC now owns 35,751 shares of the real estate investment trust’s stock valued at $7,718,000 after acquiring an additional 13,074 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of American Tower by 0.5% in the 3rd quarter. Victory Capital Management Inc. now owns 177,288 shares of the real estate investment trust’s stock valued at $29,155,000 after acquiring an additional 806 shares in the last quarter. PDS Planning Inc lifted its position in shares of American Tower by 16.1% in the 3rd quarter. PDS Planning Inc now owns 1,821 shares of the real estate investment trust’s stock valued at $299,000 after acquiring an additional 253 shares in the last quarter. Finally, FAS Wealth Partners Inc. purchased a new stake in shares of American Tower in the 4th quarter valued at approximately $2,001,000. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Price Performance

NYSE AMT traded up $3.30 during trading on Monday, hitting $174.99. 2,104,859 shares of the company’s stock were exchanged, compared to its average volume of 2,418,707. The company has a market cap of $81.61 billion, a PE ratio of 53.99, a P/E/G ratio of 1.36 and a beta of 0.67. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.29. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $219.10. The stock’s 50 day moving average price is $190.29 and its two-hundred day moving average price is $194.42.

American Tower (NYSE:AMT) last announced 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 business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.74 billion. During the same quarter last year, the company posted $2.34 earnings per share. The company’s revenue was up 3.0% compared to the same quarter last year. Research analysts expect that American Tower Co. will post 9.94 EPS for the current year.

American Tower Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.70%. The ex-dividend date was Thursday, April 11th. American Tower’s dividend payout ratio (DPR) is presently 203.77%.

Insider Activity

In related news, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction dated 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 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 transaction of $962,584.84. Following the completion of the sale, the director now owns 18,545 shares in the company, valued at approximately $3,532,080.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 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 disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on AMT. JPMorgan Chase & Co. dropped their price objective on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. BMO Capital Markets lowered their target price on shares of 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 raised their target price on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Mizuho initiated coverage on shares of American Tower in a report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price target for the company. Finally, StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, American Tower has an average rating of “Moderate Buy” and a consensus target price of $217.36.

About American Tower

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.