First American Trust FSB Has $350,000 Stock Holdings in American Tower Co. (NYSE:AMT)

First American Trust FSB decreased its stake in shares of American Tower Co. (NYSE:AMT) by 93.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,908 shares of the real estate investment trust’s stock after selling 26,759 shares during the quarter. First American Trust FSB’s holdings in American Tower were worth $350,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMT. Roxbury Financial LLC bought a new stake in American Tower during the fourth quarter worth $32,000. Legacy Investment Solutions LLC acquired a new position in shares of American Tower in the third quarter valued at approximately $34,000. Crowley Wealth Management Inc. bought a new position in American Tower during the 4th quarter worth $37,000. Bank of Jackson Hole Trust acquired a new stake in American Tower in the 4th quarter worth about $46,000. Finally, Versant Capital Management Inc boosted 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 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 Analyst Weigh In

Several research firms recently weighed in on AMT. Mizuho cut their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Barclays upped their price objective on American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Morgan Stanley decreased their target price on American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. Scotiabank dropped 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 report on Thursday, January 23rd. Finally, JMP Securities initiated coverage on shares of American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, American Tower has a consensus rating of “Buy” and an average price target of $229.43.

American Tower Stock Performance

Shares of AMT stock opened at $209.44 on Wednesday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The business’s 50 day simple moving average is $197.32 and its 200 day simple moving average is $204.91. The stock has a market capitalization of $97.90 billion, a PE ratio of 88.37, a PEG ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.83. The business had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.29 earnings per share. As a group, research analysts forecast that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.25%. This is a boost from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. American Tower’s dividend payout ratio is presently 141.37%.

Insider Activity

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by company insiders.

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.