Cobblestone Capital Advisors LLC NY Buys 13,531 Shares of American Tower Co. (NYSE:AMT)

Cobblestone Capital Advisors LLC NY boosted its stake in shares of American Tower Co. (NYSE:AMT) by 22.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 73,052 shares of the real estate investment trust’s stock after purchasing an additional 13,531 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in American Tower were worth $13,398,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Hara Capital LLC bought a new stake in shares of American Tower in the 3rd quarter worth $31,000. Roxbury Financial LLC purchased a new position in American Tower during the fourth quarter valued at $32,000. Legacy Investment Solutions LLC purchased a new position in American Tower during the third quarter valued at $34,000. Activest Wealth Management lifted its position in American Tower by 431.0% during the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 125 shares in the last quarter. Finally, Bank of Jackson Hole Trust bought a new stake in American Tower during the fourth quarter valued at about $46,000. Institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AMT shares. Morgan Stanley decreased their price target on American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Mizuho reduced their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Citigroup reduced their price objective on American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. Barclays dropped their target price on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, The Goldman Sachs Group lowered their price target on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $225.21.

American Tower Price Performance

NYSE AMT opened at $205.61 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. The stock’s fifty day moving average price is $187.09 and its 200 day moving average price is $206.81. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The company has a market cap of $96.08 billion, a price-to-earnings ratio of 86.76, a PEG ratio of 1.29 and a beta of 0.84.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same period in the prior year, the company posted $2.29 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, equities research analysts forecast that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio is presently 273.42%.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the 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 owns 62,792 shares in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

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.