American Tower Co. (NYSE:AMT) Position Lowered by GS Investments Inc.

GS Investments Inc. decreased its holdings in shares of American Tower Co. (NYSE:AMT) by 10.0% in the 4th quarter, Holdings Channel reports. The firm owned 4,557 shares of the real estate investment trust’s stock after selling 507 shares during the quarter. GS Investments Inc.’s holdings in American Tower were worth $836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of AMT. Roxbury Financial LLC bought a new stake in American Tower during the 4th quarter valued at $32,000. Legacy Investment Solutions LLC acquired a new stake in American Tower during the 3rd quarter valued at $34,000. Activest Wealth Management boosted its position in American Tower by 431.0% during the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 125 shares during the period. Bank of Jackson Hole Trust purchased a new position in American Tower during the fourth quarter valued at approximately $46,000. Finally, Versant Capital Management Inc raised its holdings in shares of American Tower by 113.9% during the fourth quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 139 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the company’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 transaction, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AMT. Mizuho decreased their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Scotiabank cut their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. Barclays lowered their price objective on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Wells Fargo & Company raised shares of American Tower from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $210.00 to $230.00 in a report on Monday. Finally, BMO Capital Markets boosted their price objective on shares of American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $228.79.

American Tower Price Performance

Shares of NYSE:AMT opened at $213.83 on Thursday. The firm has a market cap of $99.95 billion, a PE ratio of 90.22, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The firm’s fifty day moving average is $194.43 and its 200-day moving average is $205.60. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56.

American Tower (NYSE:AMT) last issued 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. The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the business posted $2.29 EPS. Sell-side analysts predict that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be issued a $1.70 dividend. The ex-dividend date is Friday, April 11th. This is a positive change from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a dividend yield of 3.18%. American Tower’s dividend payout ratio is currently 141.37%.

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.