Washington Trust Advisors Inc. Sells 1,828 Shares of American Tower Co. (NYSE:AMT)

Washington Trust Advisors Inc. trimmed its holdings in American Tower Co. (NYSE:AMT) by 3.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,900 shares of the real estate investment trust’s stock after selling 1,828 shares during the quarter. Washington Trust Advisors Inc.’s holdings in American Tower were worth $10,253,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Rehmann Capital Advisory Group raised its holdings in shares of American Tower by 4.2% in the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock valued at $332,000 after buying an additional 58 shares during the last quarter. Precedent Wealth Partners LLC increased its position in American Tower by 4.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock worth $235,000 after purchasing an additional 58 shares during the period. Resonant Capital Advisors LLC increased its position in American Tower by 5.8% in the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock worth $206,000 after purchasing an additional 61 shares during the period. Calamos Wealth Management LLC increased its position in American Tower by 2.9% in the fourth quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust’s stock worth $398,000 after purchasing an additional 61 shares during the period. Finally, Sunburst Financial Group LLC increased its position in American Tower by 4.9% in the fourth quarter. Sunburst Financial Group LLC now owns 1,354 shares of the real estate investment trust’s stock worth $248,000 after purchasing an additional 63 shares during the period. 92.69% of the stock is owned by institutional investors.

Insider Buying and Selling at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was 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 in the company, valued at approximately $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 accessible through this link. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on AMT shares. Barclays lowered their price objective 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. Scotiabank lowered their price objective on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday, January 23rd. JMP Securities assumed coverage on American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price objective for the company. BMO Capital Markets boosted their target price on American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Finally, Mizuho decreased their target price 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 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.21.

American Tower Price Performance

Shares of AMT opened at $209.01 on Thursday. 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 50 day simple moving average of $188.53 and a 200 day simple moving average of $206.45. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The firm has a market capitalization of $97.67 billion, a PE ratio of 88.19, a P/E/G ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same period in the previous year, the firm earned $2.29 EPS. American Tower’s quarterly revenue was up 3.7% compared to the same quarter last year. Sell-side analysts predict that American Tower Co. will post 10.14 EPS for the current fiscal year.

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.