American Tower Co. (NYSE:AMT) Stock Position Raised by Mitchell Mcleod Pugh & Williams Inc.

Mitchell Mcleod Pugh & Williams Inc. lifted its position in American Tower Co. (NYSE:AMT) by 4.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,833 shares of the real estate investment trust’s stock after buying an additional 224 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in American Tower were worth $886,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Stokes Capital Advisors LLC raised its holdings in shares of American Tower by 4.4% during the 4th quarter. Stokes Capital Advisors LLC now owns 19,886 shares of the real estate investment trust’s stock valued at $3,647,000 after purchasing an additional 832 shares in the last quarter. Sarasin & Partners LLP raised its holdings in American Tower by 4.2% during the fourth quarter. Sarasin & Partners LLP now owns 936,011 shares of the real estate investment trust’s stock valued at $171,674,000 after buying an additional 37,692 shares in the last quarter. LVW Advisors LLC raised its holdings in American Tower by 76.9% during the fourth quarter. LVW Advisors LLC now owns 2,745 shares of the real estate investment trust’s stock valued at $504,000 after buying an additional 1,193 shares in the last quarter. Grove Bank & Trust lifted its position in shares of American Tower by 4.8% in the fourth quarter. Grove Bank & Trust now owns 1,436 shares of the real estate investment trust’s stock worth $263,000 after buying an additional 66 shares during the last quarter. Finally, My Legacy Advisors LLC increased its holdings in shares of American Tower by 5.2% during the 4th quarter. My Legacy Advisors LLC now owns 3,026 shares of the real estate investment trust’s stock valued at $546,000 after acquiring an additional 149 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

AMT opened at $190.51 on Monday. The stock’s 50 day simple moving average is $192.86 and its 200-day simple moving average is $211.42. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a market cap of $89.02 billion, a PE ratio of 80.39, a P/E/G ratio of 1.16 and a beta of 0.84. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56.

American Tower (NYSE:AMT) last announced its quarterly earnings results 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). The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period last year, the firm earned $2.58 EPS. Sell-side analysts forecast that American Tower Co. will post 10.15 EPS for the current year.

American Tower Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have commented on the company. BMO Capital Markets lowered their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Barclays lowered their target price on shares of American Tower from $251.00 to $215.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Scotiabank cut their target price on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 30th. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Mizuho cut their price objective 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. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $230.67.

Insider Transactions at American Tower

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 sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is currently owned by insiders.

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.