Tributary Capital Management LLC Sells 120 Shares of American Tower Co. (NYSE:AMT)

Tributary Capital Management LLC lessened its holdings in shares of American Tower Co. (NYSE:AMT) by 4.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,305 shares of the real estate investment trust’s stock after selling 120 shares during the quarter. Tributary Capital Management LLC’s holdings in American Tower were worth $423,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC raised its stake in American Tower by 25.4% in the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after acquiring an additional 2,152,646 shares during the last quarter. Adelante Capital Management LLC raised its stake in shares of American Tower by 2,723.4% during the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock valued at $279,890,000 after buying an additional 1,160,890 shares during the last quarter. Pathway Financial Advisers LLC raised its stake in shares of American Tower by 23,224.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock valued at $231,941,000 after buying an additional 993,061 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of American Tower by 22,242.7% during the 3rd quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock valued at $1,811,330,000 after acquiring an additional 775,379 shares during the period. Finally, State Street Corp grew its position in shares of American Tower by 3.1% during the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock valued at $4,924,091,000 after acquiring an additional 635,726 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Activity

In other news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

American Tower Stock Performance

NYSE AMT opened at $185.17 on Friday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The company has a market capitalization of $86.53 billion, a PE ratio of 78.13, a P/E/G ratio of 1.24 and a beta of 0.84. The company has a fifty day moving average of $192.08 and a two-hundred day moving average of $211.04.

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

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be paid a $1.62 dividend. The ex-dividend date is Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.50%. American Tower’s dividend payout ratio is presently 273.42%.

Wall Street Analysts Forecast Growth

AMT has been the topic of several research analyst reports. The Goldman Sachs Group lowered their price objective on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Scotiabank reduced their price target on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research report on Thursday. Wells Fargo & Company reduced their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, BMO Capital Markets cut their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and a consensus target price of $226.42.

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.