BBR Partners LLC Sells 910 Shares of American Tower Co. (NYSE:AMT)

BBR Partners LLC trimmed its holdings in American Tower Co. (NYSE:AMT) by 15.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,052 shares of the real estate investment trust’s stock after selling 910 shares during the period. BBR Partners LLC’s holdings in American Tower were worth $927,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in AMT. Harbor Capital Advisors Inc. bought a new position in shares of American Tower in the third quarter valued at $139,000. Catalyst Capital Advisors LLC bought a new position in shares of American Tower in the third quarter valued at $84,000. Catalina Capital Group LLC raised its holdings in shares of American Tower by 6.7% in the third quarter. Catalina Capital Group LLC now owns 1,440 shares of the real estate investment trust’s stock valued at $335,000 after purchasing an additional 91 shares during the last quarter. Radnor Capital Management LLC raised its holdings in shares of American Tower by 31.6% in the third quarter. Radnor Capital Management LLC now owns 3,308 shares of the real estate investment trust’s stock valued at $769,000 after purchasing an additional 795 shares during the last quarter. Finally, Harvest Portfolios Group Inc. raised its holdings in shares of American Tower by 114.8% in the third quarter. Harvest Portfolios Group Inc. now owns 7,491 shares of the real estate investment trust’s stock valued at $1,742,000 after purchasing an additional 4,004 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

American Tower Price Performance

AMT opened at $206.89 on Friday. The company has a market capitalization of $96.68 billion, a price-to-earnings ratio of 87.29, a PEG ratio of 1.29 and a beta of 0.85. 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 firm has a 50-day moving average price of $188.99 and a 200-day moving average price of $206.45. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56.

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

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be paid a $1.70 dividend. This is an increase from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a dividend yield of 3.29%. American Tower’s dividend payout ratio (DPR) is presently 134.72%.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm’s 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 transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Citigroup lowered their target price on shares of American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a report on Friday, February 14th. Scotiabank lowered their target price on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. JMP Securities assumed coverage on shares of American Tower in a report on Monday, January 27th. They issued an “outperform” rating and a $225.00 target price for the company. The Goldman Sachs Group lowered their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Finally, Morgan Stanley lowered their target price on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $225.21.

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.