First National Trust Co Reduces Stake in American Tower Co. (NYSE:AMT)

First National Trust Co lessened its stake in shares of American Tower Co. (NYSE:AMT) by 1.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,444 shares of the real estate investment trust’s stock after selling 205 shares during the quarter. First National Trust Co’s holdings in American Tower were worth $2,255,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Cross Staff Investments Inc increased its holdings in American Tower by 5.1% during the 4th quarter. Cross Staff Investments Inc now owns 5,027 shares of the real estate investment trust’s stock worth $1,085,000 after acquiring an additional 244 shares during the period. Gateway Investment Advisers LLC raised its position in shares of American Tower by 57.7% in the fourth quarter. Gateway Investment Advisers LLC now owns 35,751 shares of the real estate investment trust’s stock worth $7,718,000 after buying an additional 13,074 shares in the last quarter. Anchor Capital Advisors LLC boosted its stake in American Tower by 38.1% during the fourth quarter. Anchor Capital Advisors LLC now owns 76,625 shares of the real estate investment trust’s stock valued at $16,542,000 after buying an additional 21,139 shares during the period. Victory Capital Management Inc. grew its position in American Tower by 0.5% during the third quarter. Victory Capital Management Inc. now owns 177,288 shares of the real estate investment trust’s stock worth $29,155,000 after buying an additional 806 shares in the last quarter. Finally, FAS Wealth Partners Inc. bought a new position in American Tower in the 4th quarter worth about $2,001,000. 92.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at American Tower

In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total transaction of $962,584.84. Following the completion of the transaction, the director now owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the sale, the director now owns 18,545 shares in the company, valued at $3,532,080.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Rodney M. Smith sold 11,510 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the completion of the transaction, the chief financial officer now owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

American Tower Trading Up 1.2 %

Shares of NYSE AMT traded up $2.10 during midday trading on Friday, reaching $181.74. The company had a trading volume of 3,130,327 shares, compared to its average volume of 2,879,452. The stock has a market cap of $84.75 billion, a PE ratio of 41.12, a price-to-earnings-growth ratio of 1.42 and a beta of 0.71. American Tower Co. has a one year low of $154.58 and a one year high of $219.10. The firm’s fifty day moving average price is $189.15 and its 200-day moving average price is $194.39. The company has a quick ratio of 0.69, a current ratio of 0.85 and a debt-to-equity ratio of 3.39.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.47). American Tower had a net margin of 18.42% and a return on equity of 18.45%. The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter in the previous year, the firm posted $2.54 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities research analysts anticipate that American Tower Co. will post 9.96 earnings per share for the current year.

American Tower Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend was Thursday, April 11th. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Scotiabank cut their price objective on American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a report on Wednesday. Morgan Stanley increased their price target on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. BMO Capital Markets dropped their price objective on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday. Barclays increased their target price on American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Finally, Raymond James raised American Tower from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $226.00 to $248.00 in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and a consensus target price of $221.91.

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.