American Tower Co. (NYSE:AMT) Stake Decreased by Simmons Bank

Simmons Bank lessened its holdings in shares of American Tower Co. (NYSE:AMT) by 8.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 14,638 shares of the real estate investment trust’s stock after selling 1,408 shares during the quarter. Simmons Bank’s holdings in American Tower were worth $2,685,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Fortitude Family Office LLC raised its holdings in American Tower by 269.0% during the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 78 shares in the last quarter. Hara Capital LLC bought a new stake in American Tower during the third quarter worth approximately $31,000. Legacy Investment Solutions LLC bought a new stake in American Tower during the third quarter worth approximately $34,000. Activest Wealth Management raised its holdings 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 worth $36,000 after purchasing an additional 125 shares in the last quarter. Finally, Roxbury Financial LLC bought a new stake in American Tower during the fourth quarter worth approximately $32,000. Institutional investors own 92.69% of the company’s stock.

American Tower Trading Down 1.5 %

NYSE AMT opened at $200.75 on Thursday. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market cap of $93.81 billion, a price-to-earnings ratio of 84.70, a PEG ratio of 1.29 and a beta of 0.84. The firm’s 50 day moving average price is $186.16 and its two-hundred day moving average price is $206.96.

American Tower (NYSE:AMT) last posted its quarterly earnings data 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. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same period in the previous year, the company posted $2.29 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities analysts anticipate that American Tower Co. will post 10.14 EPS for the current year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio is currently 273.42%.

Insider Activity

In other news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AMT shares. Morgan Stanley dropped their target price on American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a report on Monday. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Wells Fargo & Company decreased 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, January 23rd. The Goldman Sachs Group decreased their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Finally, BMO Capital Markets lifted their price target on shares of American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $225.21.

American Tower 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.