First United Bank & Trust Has $116,000 Stake in American Tower Co. (NYSE:AMT)

First United Bank & Trust lessened its position in shares of American Tower Co. (NYSE:AMT) by 65.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 635 shares of the real estate investment trust’s stock after selling 1,217 shares during the period. First United Bank & Trust’s holdings in American Tower were worth $116,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in AMT. CX Institutional boosted its stake in American Tower by 2.9% in the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock worth $450,000 after buying an additional 54 shares in the last quarter. Palumbo Wealth Management LLC lifted its holdings in shares of American Tower by 1.6% in the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock worth $864,000 after acquiring an additional 57 shares during the last quarter. Rehmann Capital Advisory Group boosted its stake in shares of American Tower by 4.2% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock valued at $332,000 after purchasing an additional 58 shares in the last quarter. Sivia Capital Partners LLC raised its position in American Tower by 5.3% in the 3rd quarter. Sivia Capital Partners LLC now owns 1,179 shares of the real estate investment trust’s stock worth $274,000 after purchasing an additional 59 shares during the period. Finally, Fullcircle Wealth LLC lifted its stake in American Tower by 1.2% in the third quarter. Fullcircle Wealth LLC now owns 5,053 shares of the real estate investment trust’s stock worth $1,123,000 after purchasing an additional 61 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

American Tower Price Performance

Shares of AMT stock opened at $190.51 on Tuesday. The business’s fifty day moving average is $192.86 and its 200 day moving average is $211.54. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a market cap of $89.02 billion, a price-to-earnings ratio of 80.39, a PEG ratio of 1.28 and a beta of 0.84. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the prior year, the company earned $2.58 earnings per share. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. Research analysts expect that American Tower Co. will post 10.15 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be paid a dividend of $1.62 per share. The ex-dividend date is Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.40%. American Tower’s dividend payout ratio is 273.42%.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AMT shares. Scotiabank decreased their price target on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, October 30th. Barclays lowered their price target on shares of American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a report on Monday, January 13th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Mizuho lowered their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lifted their price objective on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $230.67.

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.