Dorsey & Whitney Trust CO LLC Sells 144 Shares of American Tower Co. (NYSE:AMT)

Dorsey & Whitney Trust CO LLC decreased its holdings in shares of American Tower Co. (NYSE:AMT) by 1.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 8,058 shares of the real estate investment trust’s stock after selling 144 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in American Tower were worth $1,478,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Roxbury Financial LLC acquired a new position in shares of American Tower in the 4th quarter valued at $32,000. Legacy Investment Solutions LLC acquired a new position in shares of American Tower in the 3rd quarter valued at $34,000. Activest Wealth Management grew its holdings in shares of American Tower by 431.0% in the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 125 shares during the period. Bank of Jackson Hole Trust acquired a new position in shares of American Tower in the 4th quarter valued at $46,000. Finally, Versant Capital Management Inc grew its holdings in shares of American Tower by 113.9% in the 4th quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 139 shares during the period. Institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AMT shares. Wells Fargo & Company decreased their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. BMO Capital Markets upped their target price on shares of American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Mizuho reduced their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. JMP Securities began coverage on shares of American Tower in a research note on Monday, January 27th. They issued an “outperform” rating and a $225.00 target price for the company. Finally, Scotiabank reduced 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 research note on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and an average price target of $225.21.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.18% of the stock is currently owned by company insiders.

American Tower Stock Up 2.7 %

Shares of AMT stock opened at $212.49 on Friday. The firm’s 50-day moving average is $189.60 and its 200-day moving average is $206.30. 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 $99.29 billion, a price-to-earnings ratio of 89.66, a PEG ratio of 1.29 and a beta of 0.85. American Tower Co. has a 52-week low of $170.46 and a 52-week 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 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 company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the prior year, the business earned $2.29 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. Sell-side analysts predict that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be given a $1.70 dividend. This is an increase from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. This represents a $6.80 annualized dividend and a dividend yield of 3.20%. American Tower’s dividend payout ratio is presently 134.72%.

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.