American Tower Co. (NYSE:AMT) Shares Sold by Bard Financial Services Inc.

Bard Financial Services Inc. cut its stake in American Tower Co. (NYSE:AMT) by 4.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,775 shares of the real estate investment trust’s stock after selling 125 shares during the period. Bard Financial Services Inc.’s holdings in American Tower were worth $509,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of AMT. Nordea Investment Management AB grew its holdings in shares of American Tower by 28.5% during the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock valued at $260,743,000 after buying an additional 314,769 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of American Tower by 4.4% in the fourth quarter. GAMMA Investing LLC now owns 7,173 shares of the real estate investment trust’s stock valued at $1,316,000 after purchasing an additional 302 shares during the period. Versant Capital Management Inc raised its stake in shares of American Tower by 113.9% in the fourth quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 139 shares during the last quarter. First Financial Bank Trust Division lifted its holdings in shares of American Tower by 4.6% during the fourth quarter. First Financial Bank Trust Division now owns 10,344 shares of the real estate investment trust’s stock worth $1,897,000 after purchasing an additional 458 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new stake in American Tower in the third quarter valued at approximately $30,435,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

AMT traded down $0.92 during trading on Monday, hitting $181.64. The company’s stock had a trading volume of 985,719 shares, compared to its average volume of 1,956,822. 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 firm has a market capitalization of $84.88 billion, a price-to-earnings ratio of 76.64, a P/E/G ratio of 1.31 and a beta of 0.84. The business’s fifty day simple moving average is $198.67 and its 200 day simple moving average is $212.49. 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 quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower’s revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.58 EPS. On average, equities research analysts forecast that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio is presently 273.42%.

Wall Street Analysts Forecast Growth

AMT has been the subject of a number of recent research reports. The Goldman Sachs Group reduced their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. BMO Capital Markets decreased their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Wells Fargo & Company cut American Tower from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $245.00 to $230.00 in a report on Thursday, October 10th. Finally, Scotiabank dropped their target price on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.08.

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.